COMMONLY ASKED QUESTIONS ABOUT BUSINESS TAXES
How do I handle taxes?
Your tax accountant files your federal, state, and local taxes. They need accurate data from your bookkeeper or CFO to do their job well. As your business grows, having a CFO ensures your finances are organized and ready for tax time, including filing things like 1099s.
Help! What do I do when the IRS is sending me letters?
Don’t panic. IRS letters are often requests for information. Start by calling the IRS and documenting the conversation, including the name of the person you talk to. If the issue is more complex, your tax accountant can work with your CFO to handle it.
What is a “1099” and why do I need them?
A 1099 is a form you file with the IRS to report payments over $600 to vendors or contractors. To file a 1099, you’ll need a W-9 form from each vendor. This process can be tricky without the right system in place, but we can help ensure you’re compliant.