Remove bookkeeping software Remove business tax Remove Legal Remove tax preparation
article thumbnail

Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

(Law firms and attorneys have so many specialized 1099 issues, they get their own blog post.) (**) There’s a lot of confusion over Venmo and PayPal, because there are personal-use “Friends & Family” versions as well as business versions of both platforms. The IRS is now planning a phase-in of $5,000 for tax year 2024.

article thumbnail

Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

(Law firms and attorneys have so many specialized 1099 issues, they get their own blog post.) (**) There’s a lot of confusion over Venmo and PayPal, because there are personal-use “Friends & Family” versions as well as business versions of both platforms. The IRS is now planning a phase-in of $5,000 for tax year 2024.

article thumbnail

The Best Online Accounting Software for Small Businesses

xendoo

Wave is owned by the tax preparation company H&R Block and offers online financial software designed with entrepreneurs in mind. Sole proprietors love the price tag – they offer accounting software, invoicing, and receipt scanning for free. We also keep you IRS compliant and take care of your tax returns.