Taxes

Business Law: Federal and State Income Taxes (size reduced)

Business Tax Liability

Do You Understand Business Tax Liability?  It is important to understand business tax liability specially Federal & State Income Taxes for “Self-Employment”.  A self-employed person earns a living by working for himself. But in a corporation, the self-employed person becomes both an owner & an employee. Federal And State Tax Federal income taxes are collected …

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1099 and W-2 Differences

Do you know what is 1099 and W-2 and their difference in businesses? Many employers refer to independent contractors as “1099” and employees as “W-2” workers after the IRS forms used for reporting purposes. However, simply providing a worker a 1099 Form doesn’t make them an independent contractor. The classification must always be made on …

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