What to do if you receive an IRS letter or notice

Did you hear the old joke about the taxpayer who called his accountant all stressed out because he just got a letter from the IRS? “I got an IRS letter!  What the heck do they want now?” the taxpayer screams. “I’m not sure” his accountant replies.  “Tell me exactly what the letter says.” “I don’t […]

Is it OK to Pay Workers as 1099 Contractors?

Small business owners are always searching for ways to lower their taxes. One of the most common tactics is to classify workers as 1099 contractors, rather than as W-2 employees. When done within IRS guidelines, classifying a worker as an independent contractor will save your business a significant amount of money in payroll taxes and employee-related […]