Careful! An incorrect 1099 that overstates your income is a problem that can lead to a painful tax audit. What can cause errors? One huge cause of incorrect 1099s is a misunderstanding of what 1099 income really is. Another cause of problems is correcting your 1099 the wrong way. But don’t worry. We’ll clear up the confusion when you read our brand new article titled Tax … [Read more...]
Independent Contractor
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Get your independent contractor’s tax status right
Do you work with independent contractors? If you do, it’s vitally important to get their tax status right from day one. Why? Because if you get the contractor’s status wrong, and they are considered by the IRS to be “employees,” you could suffer major penalties. That’s why it’s so important to read my latest article titled Tax Tips: Tax Lawyer Is an Employee, Not an … [Read more...]