π¨ NEWS UPDATE: 1099 Reporting Deadlines π¨
Business owners, don't let the calendar catch you off guard! The deadline to send out Form 1099-NEC to your contractors and file with the IRS is arriving quickly.
π The Date: Monday, February 2, 2026 (Note: The usual Jan 31 deadline is pushed back this year because it falls on a Saturday!)
Who needs one? Generally, anyone you paid $600+ for services who is not a W-2 employee.
Pro-Tip: Ensure you have a completed Form W-9 on file for every vendor to make your reporting process seamless. Penalties for late filing apply per form, so double-check those records this week!
#TaxAlert #BusinessNews #1099Deadline #Entrepreneurship #TaxYear2025
π¨ Final 2025 Tax Bill webinar π¨
Thursday, Aug 28 | 4 PM ET | https://t.co/iJbkLDvM68
Bonus depreciation β’ SALT cap β’ R&D expensing β’ Estate tax changes
Last chance to hear it live. #TaxReform#TaxPlanning#REITaxCPA#FixIRSTax#OB3TaxBill
Big tax changes for 2025! π Join our webinar on the One Big Beautiful Bill Act (OBBBA) to learn about:
β 100% bonus depreciation β Expanded Section 179 expensing β More for real estate, construction, & business
https://t.co/AumRLyAYaP
#TaxReform #OBBBA #RealEstate #Construction #BusinessOwners #CRE #TaxStrategy #OpportunityZones
π¨ Update: The Fifth Circuit has reinstated a nationwide injunction against the Corporate Transparency Act, suspending all filing deadlines. Companies are not required to submit beneficial ownership reports for now. Stay tuned for more updates! #CorporateTransparencyAct #LegalUpdate
π¨ The Corporate Transparency Act is back! π’
New compliance deadlines for Beneficial Ownership Reporting are set for January 13, 2025. Don't risk penaltiesβmake sure your business is ready!
π https://t.co/4gy5MSe6Xx
#CorporateTransparencyAct#BOI#FinCEN#Compliance #BusinessUpdates
π’ Business Owners: Are you ready to save on your 2024 taxes?
Here are key strategies to explore before year-end:
βοΈ Defer income or accelerate expenses
βοΈ Maximize Section 179 and bonus depreciation
βοΈ Fund a retirement plan for 2024 deductions
βοΈ Write off uncollectible debts
Tax planning is criticalβact now to make the most of these opportunities! πΌ
π https://t.co/ig81p9aqNU
#TaxPlanning #BusinessTips #SmallBusiness #YearEndTaxMoves