Business. Money. Life.
Now that you have gone through the year with employees who have filled out a Form W-4 and Form I-9 and/or a subcontractor who has filled out a Form W-9, it is time to put those forms to work. If you have employees, you have the information you need from the W-4 and I-9 which […]
1099 Your Subcontractors When hiring a subcontractor to do a job for you, you will need to issue them a 1099 for all services over $600. Some people hire a construction contractor, plumber, landscaper, and electricians. All of these professionals should be issued a 1099-Misc for services completed and paid. Each new contractor must fill out […]
Sometimes it can be difficult to know what forms are needed when hiring a new person for your business. You must use either one of two forms, a W-4 or a W-9, depending on whether you are hiring a new employee or an independent contractor. If you are hiring a new employee, you must have […]
What is the Purpose of Form W-9 When your business uses the services of a vendor hired as an independent contractor or freelancer and the individual is paid more than $600 in labor and services or $5,000 in direct sales in a year, the Internal Revenue Service (IRS) requires you to report these payments. The […]
A common question among S-Corp shareholders is “how much does my business pay me?” In order to figure reasonable compensation there are multiple factors to take into consideration. Some of them are: What is your experience and training What are your duties and responsibilities How much time and effort do you put in What are […]
You just hired a new employee! Finding the right person to join your team can be a challenging process. As we explored in our previous article, Investing in the right people, taking the extra time to find an employee who will fit your team culture and ethos is critical to any business and even more important […]