Entertainment expenses are no longer deductible. You’ll have to decide whether you prefer that your employee entertain clients. But you’ll have to reimburse the employee without being able to write it off. If, for example, your employee entertains clients at a concert or sports event, the p...
A 1099 (NEC or MISC) states how much you were paid as a nonemployee worker such as an independent contractor (consultant, freelance worker, gig worker, etc.) Usually federal, state, and FICA taxes are not withheld on a 1099, so are not generally reported on a 1099 form. ...
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Start A Business. A business is one of the best ways to shield your income from more taxes. You can either incorporate as an LLC, S-Corp, or simply be a Sole Proprietor (no incorporating necessary, just be a consultant and file a schedule C). Every business person can start a Self-E...