AccountantsWorld Daily News | IRS Takes Non-Employee Compensation Out of 1099-MISC: (CPA Practice Advisor) - New Form 1099-NEC The 1099-NEC is used strictly for reporting independent contractor payments of $600 or more in the course of your trade or business. You will still be required to use the 1099-MISC for such items as royalties, rent, and healthcare payments. |
| | PPP Loan Forgiveness: What CPAs Should be Doing Now (JofA) - So what should CPAs be doing now? The wise course is to begin preparing the forgiveness application and stay on top of documentation requirements but also be patient with the process as substantial areas are settled. To help you explain the current situation to business owners and leaders, letâs take a look at a collection of PPP questions, key facts, and best practices.
| The Best Hidden Features of iOS 14 (PC Mag) - A new OS for your iPhone is here, and with it comes a slew of under-the-hood tweaks and tricks for power users, from better ways to organize your chats to accessibility features that are useful for everyone.
| Why Tweaks to the Fed's Small-Biz Lending Program Won't Fix It (Inc.) - The Federal Reserve offered changes to its Main Street Lending Program, but borrowers are still likely to balk.
| Lessons From Tax Season: Home Run or Rain Delay? (Accounting Today) - Tax season is a lot like baseball season, and both have been for the record books this year. We started 2020 with hopes of a solid season after a rebuilding year following the Tax Cuts and Jobs Act. Instead, this season threw us more curveballs, changeups, game delays and empty seats than any season in history.
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| | | The next great opportunity for accounting firms: offering Client Accounting Services (CAS). When you master the basics, CAS can grow your accounting profits by 50% or more. Learn the 5 keys to building a profitable CAS practice in our free CAS guide. DOWNLOAD NOW
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