Hello world, and welcome to tax preparation season! Form 1099 variations, Balance Sheets that won’t balance, and unpaid client bills, oh my! With so many unchecked boxes remaining on your year-end tax preparation list(s), and so little time to check them off, accounting frenzy is afoot. Unsurprisingly, daily tasks, project work to meet or beat upcoming deadlines, and more 2022-year planning tend to be the priorities at this time. If accountants are not Superwomen and Supermen, leveraging their superpowers to churn out incredible accounting work, then how can they manage to get all of these things done in so little time? And, more importantly, with their noses to the grindstone, will the quality and accuracy of their work suffer?
We all know that accountants are busy people in busy professions, and during busy times of the year “busy” is more of an understatement. As a company dedicated to QuickBooks training and performing QuickBooks services for our many happy clients, with a team of Allstar, certified ProAdvisor consultants with strong accounting backgrounds, we know and understand what “busy” truly means for accountants. And we definitely know how “busy” can affect work quality and accuracy. The last thing any business wants are penalties imposed by the IRS for any mistakes or oversights! So it’s important to prepare and execute year-end taxes correctly.
Diving a little deeper into the weeds of year-end taxes, a lot of the technical questions we receive have to do with Form 1099. Form 1099 work can become quite tricky, and a lot of accountants can struggle with choosing the correct Form 1099 variant to file. 1099s are a complex component of the tax preparation and filing process, with 20 Form 1099 variants, and it is essential to report everything correctly to avoid an IRS Tax Audit. Correct reporting will also help to mitigate potential IRS Tax Audits of your employees, which can cause great stress and negatively affect work performance.
Our solution? Read on to learn more about how we can help!