8. Worker Classifications – There are several incentives for employers to classify workers as independent contractors instead of employees. Mainly, an employer isn’t responsible for payroll taxes or fringe benefits for outside contractors. This has been an on-going issue for decades, but now the IRS intends to tighten up compliance of the rules.
Debra Moore, CPA, Owner
P.O. Box 751
Bedford, VA 24523
moorebookkeeping at msn. com
Tired of searching for someone qualified and reliable to do your bookkeeping?
Does your business lack accurate and timely financial information?
Let us help!
Timely & Informative
- 12 Things You Need to Know About Financial Statements
- Bullet Journal
- Changes to 2018 Taxes
- New 20 percent deduction for passthrough businesses Many owners of sole proprietorships, partnerships, trusts and S corporations can deduct up to 20 percent of their qualified business income.
- When To Expect Your W-2, 1099 & More Tax Forms In 2017 (And What To Do If They’re Missing)
Check Your CreditEveryone should check their credit report at least annually. Go to this free, secure site to check it. To assure that your credit file is disclosed only to you, the nationwide consumer credit reporting companies will authenticate your identity utilizing the personal identification information you provide on this site, including, but not limited to, your Social Security number, and then require that you answer certain questions. For your protection, if your identity cannot be authenticated for online delivery of your credit report, you will receive further instructions on how to request your report for delivery by the U.S. Postal Service. Failure to authenticate for online delivery of your annual credit report is not an indicator of fraudulent activity or identity theft.