Creditors, Borrowers, and Cancellation of Debt Software
Cancellation of debt can come from a variety of sources: for-profit creditors, family members, federal agencies, financial institutions, and healthcare providers, just to name a few. The specific rules for how that debt cancellation gets counted as a write-off for the creditor and as income for the taxpayer depends on the nature, source, and size […]
Record Keeping and Records Management Software
Record keeping software is on the to-do lists for many new businesses as well as companies and accounting departments that are looking to upgrade their system or otherwise increase the effectiveness and efficiency of their record keeping. Not sure where to start? QuickBooks and Wave Accounting are two of the big players for record keeping […]
Choosing between W-2 and 1099 Forms for Worker Compensation
In a lot of ways, you’re not allowed to simply choose all willy-nilly whether you classify and pay workers as employees or independent contractors. But by familiarizing themselves with the rules from the beginning, many business owners can create a productivity strategy that best makes use of their workforce options. Learn more about the parameters […]
Online EIN Generation and Payer/Employer Software Solutions
Your employer identification number, or EIN, is a nine-digit identification code used by the IRS to identify employers for the purposes of tax reporting and other forms filing requirements. As such, this is one of the first things new employers must do. Some businesses need to do this practically from day one. Low-budget start-up companies […]
Find Employer 1099 Form Software and Service Support
A lot of the information out there for filing 1099 forms is geared toward employees and recipients, but knowing how to file an employer 1099 form is far from given, even for owners who already know a thing or two about 1099 business filings. In addition to providing powerful, intuitive software support, Advanced Micro Solutions […]
How to Get an Employer Identification Number and Filing Software
An employer identification number is used by the IRS to identify businesses for the purposes of tax filing and other applicable reporting requirements. Many sole proprietors do not need an EIN unless they hire employees or meet some other qualifying criteria. If you know that you’re going to need one of these nine-digit identification numbers, […]
Why Payroll Check Writing Software is More Important than Ever
It used to be that payroll check writing software was this huge business expense to cover the cost of a system that was so complicated that only payroll firms bothered. Today, these types of data management technologies and automated payroll systems are relatively inexpensive and easy-to-use. And there’s no better example of this evolution than […]
Find Paycheck Software Features for Your Business
New software features and information technology is empowering payroll service companies to take on more and more business clients without sacrificing their quality of service. At the same time, many business clients are themselves looking to leverage these software features into an internal payroll and tax accounting solution. AMS is proud to be leading the […]
Seasonal Workers
What defines a Seasonal Worker? There are times when a business needs to hire workers on a seasonal or part-time basis. For example, some businesses may need seasonal help for farming, lawn care, roofing, sporting events, holidays, and commercial fishing or harvest seasons. There are certain tax withholding rules that apply to these types of […]
What is a 1042-S?
Understanding Form 1042-S According to the IRS, form 1042-S is used to report amounts paid to foreign persons, and to report amounts withheld under Chapter 3 of the Internal Revenue Code or to report distributions of effectively connected income by a publicly traded partnership or nominee. The form is not used to report anything that […]