College saving accounts, also known as 529 plans, offer numerous benefits for families looking to save for their children's education. Here are some of the top advantages: Tax advantages Contributions to 529 plans are made with after-tax dollars, but the money grows tax-free. …
taxes
1099s
What is the purpose of a 1099? The purpose of a 1099 is to capture the income businesses pay to contractors, individuals & other businesses, for services during the course of a calendar year. 1099s must be delivered to individuals who need one each year by January 31st. 1099-NEC is for …
End of the Year Bonuses
It's that time of the year when company bosses start discussing End of the Year or Holiday bonuses. The IRS is very black-and-white about these types of bonuses. In this article, I'm going to break it down between employees and contractors.Employee BonusesGifts - The IRS has ruled that …
