Reporting Non-Employee Compensation – Form 1099-NEC
If you operate as an independent contractor or freelancer or hire them in your firm, you must be familiar with Form 1099-NEC. Businesses use this form to report payments made to non-employees who provided a service during the tax year, such as freelancers, independent contractors, and sole proprietors. what is form 1099-NEC? Form 1099-NEC is […]
Outsourcing Your Bookkeeping? You Must Read This!
You’ve started a business, made some purchases, and logged sales; now comes the task of documenting everything. We don’t blame you if you cringe at the prospect of keeping track of all your transactions, but if you outsource bookkeeping, you won’t have to. Now comes the million-dollar question: who will you hire to do it […]
Annual Budgeting Guide for Startups
As the end of the year approaches, it’s time to start thinking about next year’s budget. However, you may be unsure where to start if you’ve never created a business budget before or if your company has grown significantly more complicated since last year. We’ve compiled a quick guide to creating an annual budget to […]
Everything You Need to Know About DBA vs. LLC
You’re crushing it as a solopreneur and are ready to take your firm to the next level by operating under an official business name. When a sole proprietor wishes to professionalize their brand, they have two options: a DBA or an LLC. But which one is the best? There is no one-size-fits-all approach when it […]
The Most Comprehensive Guide To General Partnerships
LLC stands for “limited liability company,” is a type of business that acts like a corporation at the state level but doesn’t have to pay corporate taxes. According to the IRS, as a LLC, your business can pay income tax like a partnership or sole proprietorship. Here, we’ll explain what a general partnership is, if […]
How Much Does It Cost To Start A Business?
You have an excellent idea for a new business and want to make it happen. But before you take the plunge, you should know how much money you’ll need to start. If you know your business costs ahead of time, you can plan and avoid problems with cash flow. Some small business owners and entrepreneurs […]
How to Apply for a Business License
There is a lot to manage when you own a business. In addition to keeping track of your business’s finances, handling customer service, and selling your main product or service, many city, county, and state governments require companies to get a business license. Many new business owners may not know which licenses are required for […]
Is a Registered Agent Required For Your Company?
You’re filling out the documentation for your limited liability company (LLC) or corporation with confidence until you’re asked to name a registered agent. Perplexed? You are not alone! Why Do I Need A Registered Agent? Many small business owners need a registered agent to meet the legal requirements for their business entity. Every state in […]
An Inside Look At Counticks’s Bookkeeping Services
The Countick is a bookkeeping service that is available online. Some might think we’re a website where you can click a button and “the internet” will balance your books. We’d be in Elon Musk territory if we could do that! But the truth is: we’re a group of real people crammed into one big (incredible) […]
Accounting Diary Entries: Definition, Examples, and Instructions
Every transaction that your company conducts necessitates the creation of journal entries. They collect transactions and convert them into data. You and your bookkeeper or accountant can use that data to generate financial reports and file taxes. Here’s all you need to know about this crucial bookkeeping-building component. What it is, why it’s necessary, and […]