Professional Small Business Services Inc

For businesses that did not or will not receive the PPP funds (Paycheck Protection Program), you may still be eligible for the Employee Retention Credit up to $5,000 per employee. https://www.irs.gov//faqs-employee-retention-credit-under-

https://www.forbes.com//sba-issues-ppp-loan-forgiveness-/

We come across returns without the information of the person who prepared the tax returns quite frequently. So, BEWARE! California Tax Education Council will increase awareness via television, radio, social media and outdoor advertising against Ghost Tax Preparers. These are individuals who prepare tax returns for a fee, but does not disclose the preparer's information, as required by state law. The standard procedure is to purchase a tax preparation program (TurboTax, H&R... Deluxe, TaxAct, etc.) and set up office in their home, table at a strip mall or in a store front. In the state of California, you must be registered with them and bonded if you are charging a fee! https://www.prnewswire.com//statewide-campaign-focuses-on-

We are #1 bookkeeping company and Runners-Up on tax firm. We have a great team!

Update: Independent contractor or employee https://www.nfib.com//whos-an-independent-contractor-whos/

California small business scorecard Septmeber 2019: https://www.nfib.com//californias-small-business-scoreca/

Time to vote! We're under "tax firm" and "bookkeeping"

Planning on hiring someone? We're getting clients who are receiving notices from the Social Security Administration indicating that employee's name and Social Security are not matching. I recommend you verify their work eligibilty by visiting the Social Security Administration. https://www.ssa.gov/employer/ssnvs_handbk.htm

Whether you receive Form 1099-Misc or not, you must report your income. Poor record keeping will not protect you from an audit; on the other hand, good record keeping will prevent someone from overstating your income. https://www.forbes.com//irs-forms-1099-are-coming-pay-at/

When someone defaults on a loan or credit card, or settles for a lesser amount than the loan debt, the institution will forward a Form 1099-C to the individual. That amount on Form 1099-C becomes taxable to the recipient and it must be reported on the tax returns. https://www.forbes.com//do-not-ignore-irs-form-1099-c-it/