Year-End Reporting Requirements

Posted by Sue Tuson on October 25, 2016

Sue Tuson

As we approach the end of 2016, following are items you should consider with regard to year-end reporting for your business. Forms 1099 Businesses often make payments to individuals and unincorporated businesses, such as partnerships, LLCs and sole-proprietorships that are not considered wages and therefore not subject to income, Social Security or Medicare tax withholding. These payments are required to be reported on various forms, depending on the character of the payment. Following is a summary of the most common forms: Form 1099-MISC (Miscellaneous Income) This form relates to services rendered that do not constitute wages reportable on Form W-2, …

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India Withholding Taxes

Posted by Sue Tuson on April 26, 2016

US companies doing business with Indian entities may be subject to withholding taxes at the time the customer makes the payment. Generally, withholding occurs on …

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Repair Regulations

Posted by Sue Tuson on September 12, 2013

The IRS has attempted to clarify what was once a very ‘grey area’ for taxpayers by issuing T.D. 9564. These temporary regulations have given businesses …

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Suzanne Tuson, CPA, MST


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