For small business owners, hiring an independent contractor has many advantages. From access to specialized project skills to reduced onboarding time, it’s a strategic way to increase your efficiency and productivity — without adding to your headcount. Like every worker, they’re compensated. And any independent contractor earning $600 or more should typically receive a 1099 form […]
Archives for November 2024
The Tax Implications of International Investments
There are numerous benefits to investing overseas — from diversification to the potential for more growth opportunities. But as a U.S. taxpayer, if you’re making foreign investments, Uncle Sam still wants his share of the profits. Keep in mind, different types of investments may require different tax treatments. Get up to speed with the taxation […]
Beat the Clock: Critical Year-end Tax Tasks for Your Small Business
As the calendar year winds down, small business owners have an opportunity to make strategic moves that can significantly impact their tax situation. Taking the time now to review your tax strategy can lead to substantial savings and help you start the new year on a solid financial foundation. Read on for potential tax-saving moves: […]
Countdown to Tax Savings: Year-end Reminders for Individuals
As the year winds down, there’s an important deadline looming: the end of the tax year. The good news is you still have time to strategize and potentially reduce your tax burden before the New Year. Here are a few possibilities to get you started: Check your tax withholding It you had unexpected income or […]