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Category Archives: Accounting
IRS Rules Regarding 1099’s
Below are the IRS 1099-Misc. rules regarding paying someone for services they provide. File Form 1099-MISC for each person to whom you have paid during the year: At least $10 in royalties or broker payments in lieu of...
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Is Financial literacy Needed in Today’s Economy
According to Investopedia, financial literacy is the knowledge and application of various financial skills. These may include creating a budget, understanding how credit works, and saving for retirement. Financial literacy includes understanding...
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Independent Contractors (Uber or Lyft) Accounting Tips
The challenge we see in our practice is that Independent Contractors do not take the time to keep good accounting records. Keeping good records is the fuel to your business when it comes to taxes. Fundera magazine, the small business resource...
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Tax Tips for Federal Withholdings | W-4
The most common reason why you may not received a tax refund when filing your taxes is because your withholding is wrong. This applies to most W-2 filers only. Getting your withholding right enables you to receive a refund. Below is what the IRS...
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Accountant | Tax Preparer for Uber or Lyft Drivers
We came across this post on uberpeople.net and commented on it. The questions asked is below. Discussion Starter · #1 · Oct 3, 2018 Any clues on how to find the best recordkeeping, tax filing advice? Key word...
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What is Schedule C (Form 1040) – Uber, Lyft and Taxi...
If you earned $600 or (someone pay you $600) or more, you were not an employee of a company or the person that paid you the $600, you are consider Self-Employed or an Independent Contractor for IRS tax filing. You will have to file Form Schedule...
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