How To

IRS FORM 1099

An IRS Form 1099-MISC is used to report payments to certain recipients during the year. A Form 1096, a transmittal form, is the cover page for the 1099s that you will submit to the IRS (unless you file electronically). This form totals all payments on your 1099s. IRS Form 1099 Guidelines: Determine who is an …

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How to Complete a W-3

Completing a W-3 is an essential task for small businesses with employees. See the following step-by-step instructions for completing and filing a W-3. A W-3 form is a summary of your W-2 forms. The W-3 and copy A of all W-2s must be mailed to the Social Security Administration no later than the end of …

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Business Records Management

Tips on Managing your Biz Receipts Business records management is an essential part of running your small business; however, it has always been an area of entrepreneurship that many small business owners struggle with. Personally I put keeping track of my business receipts in the same category as a trip to the dentist… you don’t necessarily like it, …

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How to do a Bank Reconciliation

A bank reconciliation is an important process that every small business owner should perform to ensure that their financial records and their bank statement are correct and corresponding. Cash on the balance sheet illustrates a company’s ability to pay debts and fund operations, but how do you know the account balance is accurate? Bank reconciliations …

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