Quick Guide to 1099-Misc

Guide to 1099-misc A 1099-misc is an income reporting form for businesses. The most common use you will see is business owners using it to report to the IRS if they paid someone to do contract services for their business.  This is called Box 7 “Non-employee...

What taxes do I pay as a Sole Proprietor?

Income Tax, Sales Tax, State Tax, Quarterly Tax? Talk about confusing Often times it is the “simple” questions that can feel the most confusing when it comes to taxes. Today I'm sharing with you the very basics of what and how taxes are paid as a sole...

Employee Versus Contractor

Hiring a team is a big and important step as business owner. Making sure that you are classifying your team properly is even more important. The trend right now in online business in particular is to only use contractors and avoid the “complications” of...

How to Take Control of Your Profit

  Income (or Revenue) is how much money you receive. Profit is how much money you have left after expenses. Profit = Revenue – Expenses What if my profits are dismal? One of my favorite business books is Profit First by Mike Michalowicz. He is a serial...

Tax Tip – Understanding the 1099-Misc

If you are in business, you will most likely come across a form 1099 misc at some point. Here are some quick tips and info on how to handle this form.Receiving a 1099-MiscIf you work in a direct sales type of business, this is the form your company is going to send...

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