Government & Policy

Home/Government & Policy

What You Need to Know About Counterfeit Currency

By |2021-02-09T07:10:34-06:00January 29th, 2021|Categories: Better Guidance, Government & Policy, Smarter Decisions|Tags: , , , , , , |

You assume the cash you receive for your sale on Facebook marketplace or the bills you pull out to pay for your lunch is worth the amount printed on the face of the bill. But with $82.1M of counterfeit currency estimated to be passed in fiscal year 2018, it is not guaranteed that you can deposit [...]

Form 1099-MISC & 1099-NEC – Changes and Best Practices

By |2021-01-18T20:05:51-06:00December 30th, 2020|Categories: Accounting, Business, Communication, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , , , , , , |

Every year, businesses must issue 1099s to individuals and partnerships for payments issued of $600 or more for items such as rent, other income, contract labor, and payments to attorneys. Starting January 2020, payments for non-employee compensation, box 7 of 1099-MISC, will now be issued on the new form 1099-NEC box 1. Determining who must receive [...]

Why Do I Have to Pay Income Taxes?

By |2021-01-17T19:47:00-06:00December 30th, 2020|Categories: Better Guidance, Communication, Consulting, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , , , , , , |

Why do I have to pay taxes?  Such a small, interesting question that opens the door for a barrage of follow-up.  What are taxes? How are they used? Do we need those things?  Are there better ways to pay for them?  If you know the answers to these questions, then you might have a bright future [...]

What COVID-19 means for your IRS Payments

By |2021-01-17T19:49:01-06:00September 4th, 2020|Categories: Accounting, Better Guidance, Business, Communication, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , , |

You know when you go on vacation or are over the road for extended periods, and you come home, and the mailbox is SO full you can barely open it. Well, with the global pandemic going on with COVID -19, the IRS has tons of mail. No, they weren’t on vacation, but due to the pandemic, [...]

How Big is my Stimulus Check Supposed to be?

By |2021-01-18T20:06:03-06:00July 21st, 2020|Categories: Business, Consulting, Government & Policy, Smarter Decisions|Tags: , , , , , , , , , , , , , |

The first round of the 2020 economic impact payment is a refundable tax credit on your 2020 tax return that has been issued in advance by the federal government based on the adjusted gross income reported on your 2019 or 2018 tax returns.  Each qualifying adult will receive $1,200 and $500 for each qualifying child.  The [...]

Why Your Business Needs an Internal Audit

By |2020-12-30T07:17:29-06:00August 23rd, 2018|Categories: Accounting, Audit, Business, Consulting, Government & Policy|Tags: , , , , , , , , |

When talking about internal audit, the first thing people think of is a Fortune 500 public corporation having a specific department within the company that periodically perform audits for everything departments do to ensure that the underline operations comply with industry standards government regulation. An internal audit is not something only larger companies need. What is [...]

Understanding IRS Collection and Scammers

By |2020-12-30T07:46:41-06:00August 16th, 2018|Categories: Accounting, Consulting, Government & Policy, Tax|Tags: , , , , , , |

Last year, CNBC reported that in the three years prior, 1.2 million individuals received phone calls from people purporting to be the IRS, demanding immediate payment… or else! More than 6,000 of these individuals fell victim to the scheme, sending a combined $36.5 million to scammers. The fact that so many perceive the IRS to be [...]

Self-Employed Health Insurance Deduction

By |2020-12-30T08:32:25-06:00July 26th, 2018|Categories: Better Guidance, Business, Government & Policy, Smarter Decisions, Tax|Tags: , , , , , |

As a small business owner, you have to pay for everything. You do not have the benefits of working for a corporation where health insurance, retirement savings, or other fringe benefits are provided free of charge. However, there are perks to being your own boss. You can set your own hours, you can decide what type [...]

Go to Top