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What’s the Difference in Capital Gains Taxes?

Posted in Tax News on February 24, 2013

Capital Assets Capital assets are generally those held for investment.  Stocks, bonds and mutual funds are some examples. If there is a gain on the sale of these assets, a capital gains tax is due.

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4 Reasons to File Form 1099

Posted in Tax News on June 5, 2012

1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous.  This form needs to be issued to all unincorporated vendors.  An unincorporated business is one that is a sole proprietorship, partnership…

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It’s 1099-Reporting Time Again…

Posted in Tax News on December 29, 2011

January 31st is the deadline to furnish Form 1099- Misc. to recipients. The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient. This category includes payments made…

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