What does Secure Act 2.0 of 2022 mean for my business?
The Secure Act 2.0 was part of the omnibus government funding bill passed at the end of 2022. There are many provisions of this act that are intended to encourage Americans to save more for retirement, but it also means that every business has compliance requirements to begin considering. There are two and a half…
1099’s on Venmo and PayPal – what is the big deal?
Most businesses know that Form 1099 NEC (non-employee compensation) is required for services over $600. However, in 2021 the American Rescue Plan Act included a provision to require Form 1099-K for all funds transfers on sites like Venmo, PayPal, eBay, and Etsy. Form 1099-K had previously only been used for significant amounts of credit card…
What to do in light of the banking collapses?
By now you have probably heard of the bank collapse of Silicon Valley Bank and the subsequent shut down of an additional California bank. Moody’s Investors Service has put six other US banks on review for potential downgrades. What do you need to do as a consumer? For most consumers, the answer is don’t panic!…
