by VentureStreet  Join Our Network
Small Businesses, More NEW Reporting Rules

Last week, there was a very interesting article in USA Today. I would like to take this opportunity to share this new reporting rule for all small business owners. IRS mandated all Small Business Owners to issue 1099-Miscellaneous not only for those hired Independent Contractors and LLC companies but to ALL VENDORS. IRS expects to make up the billion gap budget deficit by having this new tax law in effect. Therefore, I strongly advice to all Small Business Owners to keep your bookkeeping records intack and accurately so that it will be less headache when filing your annual tax returns. Furthermore, by having accurately bookkeeping records, it will save you trouble to be audited and to be penalized in the near future.

This will be in effect for new tax law requirement in 2012. Below, please find the link of USA today.

Need an accountant or CPA? We can match you to a professional in your local area.
Find and Accountant or CPA
Other articles you may like:
How Are You Advising People About Tax Reform?
Regardless of absolutes, CPAs must keep clients informed about potential changes related...

3 Steps to Gaining Control of Your Business Finances
Create a system to gain control of your finances in three easy steps. If you follow...


It's not what you earn, it's what you get to keep!
Using the tax code in your favor, to reduce your tax burden.

Invoice Financing - Purchase Order Financing
Have you overlooked Invoice Financing as a tool to keep your business finances liquid?...

Be the first to find this article helpful.
Need an accountant or CPA? We can match you to a professional in your local area.
About the Author

Marita Rosado, Rosado Accounting Services
469 Seventh Avenue, 4th Floor
New York, NY 10018

Contact Author: request info

If you would like to re-print this article, please contact the author.
Other articles you may like:
5 Things to Consider when Starting a New (Small) Business
Get some tips and advice on the 5 things to consider when starting a new (small) business.

Tax Tips: How to Record Your Mileage for the Year
Provides tips on how to record mileage for the year. This will eventually save the...

Payroll Solutions - We Are Payroll Made Easy
We can provide a cost effective solution for any employee size business.

Why Businesses for Sale Don't Sell
The five main reasons businesses do not sell.

Preparing Your Business for Sale
A quick overview for a business owner who may be considering selling their business.

Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.

Home   |   Articles & Videos   |   Affiliates   |   Networking Groups   |   Search by Category

Terms of Use   |   Privacy   |   About Us   |   Contact Us   |   Member Login

©2003-2020 - VentureStreet, LLC

Join Our Business Network