Category Tax

Unemployment is Taxable: Everything Tucson Residents Need to Know

Did you know that unemployment compensation is taxable? If you received unemployment benefits this year, then it is reportable on your 2020 Federal income tax return. This includes special unemployment compensation granted under the CARES Act earlier this year. To…

Marissa Ha
August 27, 2020

Nexus Sales Tax: Info for Phoenix Business Owners

Have you ever heard of Economic Nexus or Nexus Sales Tax? Nexus Sales Tax is the requirement for businesses to collect sales tax in states they are selling to. If you are an online business based out of Phoenix, keep…

Marissa Ha
August 26, 2020

executive order to delay payroll tax in arizona

COVID-19 News, Tax

Executive Order to Delay Federal Payroll Tax

On Saturday, August 8, President Trump signed an executive order to help Americans get back on their feet and stimulate the economy. Part of this executive order will delay Federal payroll tax. The constitutionality of this order is expected to…

Rebecca De La Paz
August 13, 2020

COVID-19 News, Tax, time and money savers

Mid-Year Tax Planning Tips for Tucson Small Businesses

Are you ready for some Mid-year tax planning? It’s important to have your taxes in mind at all parts of the year, but the mid-point is a great time to evaluate everything and see how you’re doing. Mid-year tax planning…

Marissa Ha
August 12, 2020

IRS, Tax

IRS Form 1099-NEC Regulations in 2020

The IRS has, for years, used the 1099-MISC for all payments made to non-employees. When you file taxes in 2021, this will be different. The IRS form 1099-NEC will be the new way to report non-employee compensation for payments made…

Rebecca De La Paz
February 19, 2020

2019 End of Year Tax Checklist for Money Saving

The end of the year can definitely creep up quickly! That’s why we’ve made this 2019 end of year tax checklist to aid you in your end-of-year close-out. You can download this post as a PDF checklist by clicking here.…

Rebecca De La Paz
October 25, 2019

What You Need to Know About Estimated Tax Payments

Anyone whose taxes are not sufficiently withheld, or anyone who has income that is not subject to withholding taxes are liable to make estimated tax payments. A payment made towards your taxes from an estimate you have made about your…

Rebecca De La Paz
March 11, 2019

1099, Accounting, Blog, Business Advice, Cashflow, Cloud accounting, Featured Slider, Monthly GAB, new business owner, Tax, tax refund, taxes, The Tax GAB

6 Critical Tax Procedures You’re Forgetting

In the beginning process, there are a lot of parts of business ownership that can be easily forgotten. Don’t let taxes be one of those forgotten elements! Here are SIX important tax procedures to keep in mind as you start…

Rebecca De La Paz
February 5, 2019

1099, Accounting, Billing, Blog, Business Advice, Income, IRS, Monthly GAB, new business owner, New employees, Our Services, Small Business GAB, Starting a new business, Startups, Tax, tax refund, taxes, The Tax GAB, time to hire

Independent Contractors and Employees: How They’re Different

As your business grows over time you will probably want to expand and hire people for different roles. Luckily, there are many options available for companies who need to find talented workers. As an employer, there are two main types…

Rebecca De La Paz
December 3, 2018

1099, Accounting, Billing, Business Advice, Financial, Income, IRS, new business owner, Our Services, Tax, taxes

How to Fill out a 1099

In a previous post, we discussed who gets a 1099, and now you need to know how to fill out a 1099. Documents like this can be intimidating at first glance, but when you break them down it is quite…

Rebecca De La Paz
October 8, 2018