e-filing Archives

Affordability Safe Harbors

Determining the affordability of the health coverage offered to your full-time employees and their dependents can be a bit complex. To put it simply, provided coverage is considered affordable if the premium constitutes less than 9.5% (adjusted annually) of the household income of an eligible employee for the plan year.

Since household income can be difficult to determine, due to factors such as spousal or secondary income, the IRS offers three safe harbor options to assist in determining affordability: Continue reading Affordability Safe Harbors

Gathering Information to Prepare Forms 1099-MISC

Preparing Forms 1099-MISC can be difficult, but we are here to help simplify things!

Before you prepare your Forms 1099-MISC, you will need to gather the tax information for the business or payer and recipient or payee, as well as the amounts paid to the recipient. Continue reading Gathering Information to Prepare Forms 1099-MISC

Common Errors for Form 1099-MISC

Preparing Forms 1099-MISC can be difficult, but we are here to help simplify things! We have compiled this list to help ensure that you don’t make these common errors for Form 1099-MISC.

So, you:

Determined who must receive a Form 1099-MISC;
Collected your business taxpayer information;
Sent for and retrieved your payee information through a completed W-9 form;
And finalized and collected the payment amounts from your accounting system.

Sounds like you are good and ready to complete and file your 1099-MISC forms.

However, before you press that print or e-file button, take a moment to review your information and forms for accuracy in order to avoid potential penalties or other problems. Continue reading Common Errors for Form 1099-MISC