Avoid These Costly Mistakes

Make sure you’re company is in compliance in filing all necessary forms for 2020. They are:

  • IRS form 1099 – for all your independent contractors
  • IRS form W-2 – for your employees
  • Any other payments such as rents, interest expense, etc. that would require a form 1099
  • What forms are you missing?

What you don’t want to do is wait until the last minute to file them only to realize you don’t have your numbers in. Now you’re at risk of not filing on time and subject to heavy penalties and fines from the IRS! This year, you want to make sure you’re not scrambling at the last minute, you get everything filed on time, and you avoid any late fees and fines. So make sure your accounting is updated and closed out in the next few weeks so you can move forward, file your forms, and file your income taxes. Do you need support in getting your books?