OSYB Blog: Number Crunch!
News and Views from OutSource Your Books, LLC
2016 Filing Year-End 1099’s (Updated)
December 26, 2016 by Ed Becker
December Tips for Small Businesses All businesses are required to give a Form 1099 to any non-employee service provider that the business paid for services provided during the calendar year. The deadline to issue 1099’s is January 31, so now is the time to make sure you have all W-9’s completed with current addresses and tax payer […]
Bookkeeping Year End Checklist
January 7, 2013 by Ed Becker
The year has come and gone and now is time to get information to your CPA for tax return purposes. In reality, a small business should be performing all of its essential accounting functions during the year and on a day-to-day basis. Let’s face the facts: small business owners get sucked into daily fires and it’s […]
How Long Should I Keep My Records?
December 10, 2012 by Ed Becker
As a follow up to my post on How Long Should I Keep My Accounting Records?, I am still receiving many questions on this topic. This post will hopefully clarify some of your questions and provide more insight for our clients and followers. Here are some sample examples and timelines for record retention. Each person’s situation […]
Do Small Businesses Pay Taxes When Bartering?
July 6, 2012 by Ed Becker
As cash flow gets tighter and tighter many small business owners look to the oldest form of commerce, the exchange of goods and services in lieu of cash. The fair market value of property or services received through barter is considered taxable income and the IRS wants to know about this and requires you to […]
Watch Out – They are Coming After You! (1099 Warning)
December 20, 2011 by Ed Becker
1099 Classifications — States and the Federal Government are Cracking Down States and the Federal Government are hiring agents to go after employers who are not abiding by employee classification laws. Why? Because with huge budget deficits, pinging small businesses with penalties can bring in revenue for struggling states. Both the New York State Department […]
Get Ready for Year End – 1099 time!
December 6, 2011 by Ed Becker
December Small Business Bookkeeping Tip All businesses are required to give a Form 1099 to any service provider that the business paid for services provided during the calendar year. The deadline to issue 1099’s is January 31, so now is the time to make sure you have all W-9’s completed with current addresses and tax […]
