From the July, 2019

Should my 1099 income be reported to me personally or to my business?

If you receive income reported on Form 1099-MISC, then you’ll want to report that income under your “EIN” or tax ID number, not your social security number. If you end up with a 1099 […]

My state doesn’t have a state income tax. Am I still required to file a tax return for my business?

In some cases, yes. Some states that don’t have an income tax, still require that your business file a tax return. Texas for example, has no state income tax, but still requires businesses to […]

What are “Adjusting Journal Entries,” sometimes called “General Journal Entries” or “General Journal Adjustments”?

A company’s financial records are intended to track all transactions and provide company management with the ability to manage the business. The tax return information on the other hand is strictly used for tax […]