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
Preparing Forms 1099-NEC can be difficult, but we are here to help simplify things!
Sounds like you are good and ready to complete and file your 1099-NEC 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-NEC – TY2020
Form 1099-NEC is used specifically to report payments to non-employees. A non-employee is defined as a person or business who is not employed by your company, such as independent contractors, freelancers, or outsourcing companies.
Continue reading Who Receives a Form 1099-NEC?