What You Need to Know about the New 1099 NEC
In mid-2019, the IRS debuted a new version of the 1099 NEC form. The new 1099 NEC is designed to eventually replace Box 7 on the 1099-MISC, which asks for reporting nonemployee compensation, and Box 9, which is used to report direct sales of $5,000 or more. The IRS’s goal in doing this is to […]
Texas Unemployment Insurance for Employers Made Easy with AMS
As in all states, Texas business owners need to pay an unemployment tax, a sum filed and paid by employers to fund unemployment programs across the state. In this state, the Texas unemployment insurance for employers tax rate is the sum of a few components. Generally, your effective tax rate is multiplied by your taxable […]
Tennessee Business Registration is Easy with AMS Software Support
Going through Tennessee business registration is easier than ever, but it is still a very involved process. New business owners have a plethora of forms to complete, regardless of your entity’s designation, and the government website does not make it any easier. To make it simpler, we’ll walk you through some of the most important […]
Important Changes for 2019 and 2020 Filing Forms
Tax tables, forms, and filing regulations are subject to change each year. If you’re responsible for business taxes, payroll, or other financial operations, you’ll need to reacquaint yourself with the tax code prior to every filing season. For those preparing to file business and employer tax documentation for the upcoming year, here are a few […]
How to Prepare for the 2019 Form 1099 Filing Season
If you’re gearing up for the upcoming 1099 filing season, you probably understand the nuances of this common form. If you’re a payroll specialist, you know that 1099s are sent to all vendors who received more than $600 in payment during the calendar year. If you’re a small business owner, you probably know that you’ll […]
The Gig Economy is Creating a Diverse Selection of 1099 Vendors
The future of work looks a lot different now than it did 20 years ago. The share of the U.S. workforce participating in the “gig economy,” or contractor work, rose from 10.1% in 2005 to 15.8% in 2015. Researchers estimate that the number of Americans working on-demand jobs could reach 9.2 million by 2021. This […]
Figuring Out South Carolina New Business Registration
There’s no way around it: Starting a small business is scary. No matter your industry or financial security, it can be both physically and emotionally difficult to start the process. That said, South Carolina makes the process surprisingly simple. When you start your South Carolina new business registration, you’ll need to make sure that your […]
File Rhode Island Quarterly Tax and Wage Report
If you run a small business in the Ocean State, you’ve probably come across Rhode Island TX-17, also known as the Rhode Island Quarterly Tax and Wage Report. This one-page form looks intimidating, but it is actually quite simple. To complete it, you need to enter the total wages you’ve paid during the quarter. Using […]
How to Register a Business in Rhode Island
It’s an exciting time to start a small business, especially in Rhode Island. The state makes the process as simple as possible, offering a step-by-step guide for completing forms and encountering speedbumps. But what about other, non-state related items on your to-do list? You might not realize it, but if you’re about to register a […]
Understanding the Rhode Island Supplemental Wage Listing
If you own a small business, you’ve likely heard this term before, but what does it actually encompass? Supplemental wages are compensation paid in addition to an employee’s regular wages. This includes payments like bonuses, commissions, overtime pay, accumulated sick leave pay, severance, awards, prizes, back pay, and retroactive pay. The way you withhold on […]