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Business Topics

Self Employed? Independent Contractor??

It is critical that business owners correctly determine whether the individuals providing services are employees or independent contractors.

Please see IRS – SELF EMPLOYED CENTER for additional clarifying information.

Determining Whether the Individuals Providing Services are Employees or Independent Contractors

Generally, you must withhold income taxes, withhold and pay Social Security and Medicare taxes, and pay unemployment tax on wages paid to an employee. You do not generally have to withhold or pay any taxes on payments to independent contractors.

Before you can determine how to treat payments you make for services, you must first know the business relationship that exists between you and the person performing the services. The person performing the services may be –

In determining whether the person providing service is an employee or an independent contractor, all information that provides evidence of the degree of control and independence must be considered.

More information available here

Business Topics

GBC Kentucky – Washington County Tax, Accounting, & Life Insurance Store #29

GBC Kentucky – Washington County Tax, Accounting, & Life Insurance Store #29 919 KY-433, Mackville, KY 40040 (502) 627-0557

https://maps.app.goo.gl/FTwjpFBckSMyrE8y8

Business Topics

Coming Soon…

A #2020 Update

Dear On The Fly Designs community,

An Update:

We Miss Y’all! FR

Please know, that you can count on us to maintain your privacy, practice & operate with integrity, commitment, & passion, and ALWAYS – do the NEXT RIGHT THING, for all of our clients.

WHATEVER you need help with, reach out. If we are unable to assist, help or do it, I have many Partners that can.

What vision can we help you give flight to, does your Vision have WINGS?

As always, we will continue to provide unique products and services for both your professional and personal lives!

We are re-launching in order to give you a bird’s eye view of your business! We are joining my GBC TAX Pros Business and On The Fly Designs to become, On The Fly with GBC so that we are able to guide you from A-Z with your business. No matter the need, we’ve got you covered!

Look for DIY’s and How -To videos, podcasts, additional services, etc

Business Topics

How to Start a Business – Miss Efficiency Article

https://missefficiency.com.au/tips-for-new-business-success/?utm_campaign=meetedgar&utm_medium=social&utm_source=meetedgar.com

Business Topics

Free Consultation Available!

GBC Tax Pros & More…

Call me for a free consultation! 502.627.0557

Let us help you get in, where you fit in!!

Business Topics

Are you eligible for retroactive unemployment benefits?

This article from the penny hoarder may help clarify.

https://www.thepennyhoarder.com/make-money/career/retroactive-unemployment-benefits/

Business Topics

Executive Orders – The $400 boost

What do the president’s executive orders mean to you? There’s a good article from The Penny Hoarder, link below

https://www.thepennyhoarder.com/make-money/career/executive-order-unemployment/

Business Topics, IRS - Tax Tips, Record Keeping

Good Record Keeping = Good Business

 

Taking care of business: An #IRS tip can help you understand the ins and outs of good recordkeeping: https://go.usa.gov/xfvU9IRS Record Keeping
Business Topics, IRS - Tax Tips, Tax

IRS – Limits On Charitable Contributions

Greater deductions by businesses for contributions of food inventory for the care of the ill, needy or infants are now allowed. Businesses that contribute food in 2020 may deduct up to 25 percent of their net or taxable income. https://go.usa.gov/xfQZs#COVIDreliefIRS#IRS