Public speaking and networking can be extremely stressful events at any stage of your career. Not to say that a green accountant fresh out of college has it any worse, but they may lack a few of the key factors that can make it just a little easier. For example, new accountants lack the knowledge, experience, [...]
Every year, businesses must issue 1099 forms to individuals and partnerships for payments issued of $600 or more for items such as rent, other income, contract labor, and payments to attorneys. Starting January 2020, payments for non-employee compensation, box 7 of 1099-MISC, will now be issued on the new form 1099-NEC box 1. Determining who must [...]
Why do I have to pay taxes? Such a small, interesting question opens the door for a barrage of follow-ups. What are taxes? How are they used? Do we need those things? Are there better ways to pay for them? If you know the answers to these questions, you might have a bright future in politics. [...]
You have your business idea, the concepts laid out, and you’ve registered your business. It's official. You’re getting set up for opening day, but then you start to think of all the different outcomes your business could take: Will it be profitable? If I have projections, will they be accurate? How will I know how well [...]
Some of us dream about the day we get to retire. After all of those long, hard years of labor, you can finally hang up the laces for good, and life will be wonderful, right? A lot of individuals do not plan financially for that day. You should start planning for retirement right away. In fact, [...]
If you are like me, as a student, you dreamed of the day when you were a working professional instead of a poor college student trying to balance homework, friends, and a job. However, when graduation day arrives, many students tend to feel more anxious about the future than prepared. A 2018 survey found that only [...]
It is not uncommon to hear about individuals with "side hustles" or secondary income sources.  Almost half of working Americans have a gig outside their primary job with the average side hustle bringing in $1,100 a month. While many people are quick to jump on the opportunity to earn more money, just as many fail to properly [...]
An entrepreneur/businessperson is a person who sets up a business or businesses. The term "businessperson" may refer to a founder, owner, or majority shareholder of a commercial enterprise, or it can characterize a high-level executive who does the everyday running and management of a company even if that executive is not the owner. - Â From Wikipedia, [...]
You know when you go on vacation or are over the road for extended periods, and you come home, and the mailbox is SO full you can barely open it? Well, with the global pandemic going on with COVID -19, the IRS has tons of mail. No, they weren’t on vacation, but due to the pandemic, [...]
Got assets and need cash? As a Senior Analyst for Abacus CPAs, I have seen this all too often. Business owners, like you, get the short end of the deal. You spend a ton of money to build, buy, and add on to facilities for your business, and at the end of the year, you still [...]
