Avoid IRS penalties! Learn how to file an IRS Federal estimated tax form (1040-ES): Alright! Your small business is getting off the ground and starting to make some money now. Along with that jubilant observation comes the sobering thought of paying taxes on that hard-earned income. Impatient Uncle Sam doesn’t like waiting till April 15th …
IRS Federal Estimated Tax Form 1040-ES – Tips On Filling Out Read More »
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 …
Report and submit your federal payroll taxes with IRS Form 941, if you are a small business with paid employees. See what this form is used for and when you should submit your 941s. Form 941 is used to report to the IRS: number of employees total wages paid during the quarter withholdings and total payroll …
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 …
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, …