Good Financial Reads: End of the Year Tax To-Dos

End of the Year Tax To-Dos

When Do I Need to Issue a 1099? [Video]

by Michelle Smalenberger, Financial Design Studio, Inc

When do I need to issue a 1099 is a very common question by business owners.  A 1099 states the payment you’ve made throughout the year to non-employees.  It is a tax document that tells the IRS what you paid to the individual.  This includes individuals such as contractors or subcontractors. A 1099 is simply a summary of payments.  Once your total payments to an individual get over a certain threshold the IRS requires you to issue a 1099.  Once it is over $600 for the year you need to issue a 1099.  So, this is the dollar amount to answer the question of when do I need to issue a 1099?

[Watch the Video]

 

Be Proactive: Tax Analysis [Video]

by Robert Stoll, Financial Design Studio, Inc

One question we hear a lot from those who are self-employed and doing some type of payroll is: “How do I balance my taxes and save for the future?” For this let’s discuss your tax analysis…

[Watch the Video

 

Schedule Your Tax Return [Video]

by Michelle Smalenberger, Financial Design Studio, Inc

Have you ever thought to schedule your tax return?  Let me explain what I am talking about and the advantages to this.  We know that once January 1st comes we start getting tax documents in the mail.  But after these documents have all arrived people often procrastinate and time just slips by until suddenly April 15th is here!  April 15th is the deadline to have your tax return filed and your payments made, if you owe money. 

[Watch the Video

 

12 Tax Things to Do Before 12/31 [Video]

by Michelle Smalenberger, Financial Design Studio, Inc

Here are 12 Tax Things to do before 12/31.  As we approach the end of the year what should you be thinking about?  This is the second most common time people start to think about their finances.  It could be because you are spending more money due to Christmas shopping. So you pay attention to how much is available to spend.  It could also be that the year is mostly behind you so now you know what total income and deductible items are.  Here is a helpful list to guide you through year-end, tax efficiently.

[Watch the Video


Following along with the blogs of financial advisors is a great way to access valuable, educational information about finance — and it doesn’t cost you a thing! Our financial planners love to share their knowledge and help everyone regardless of age or assets.

Good Financial Reads: Student Loan Forgiveness in a Bear Market Good Financial Reads: Student Loan Forgiveness in a Bear Market
Does Socially Responsible Investing, ESG, and Impact Investing Really Make a Difference? Does Socially Responsible Investing, ESG, and Impact Investing Really Make a Difference?
Good Financial Reads: Finding Balance With Spending and Saving Good Financial Reads: Finding Balance With Spending and Saving
Managing Interest Rate Risk In Your Bond Investments Managing Interest Rate Risk In Your Bond Investments
Good Financial Reads: Let's Talk About Legacy Planning Good Financial Reads: Let's Talk About Legacy Planning

Subscribe to Email Updates