If your business needs to issue a 1099 Form to a contractor or vendor, it is time to get a W-9 Form on file for each entity.  The W-9 gathers the information needed to document 1099 eligibility, the taxpayer ID number, and a current mailing address. The 1099 form must be submitted to the taxpayer by [...]

John Vandenhoff continues his exploration of

If you lend money to a friend, expect to lose the friend and the money. And in North Carolina, if you help a friend buy a house, you could also be committing a class 3 misdemeanor.

The Patient Protection and Affordable Care Act (i.e., the Health Care Reform Law or the Health Insurance Reform Law) was passed March 23, 2010. It included a number of tax credits to small employers to defray the costs of providing additional insurance coverage. The Internal Revenue Service issued rules Monday regarding these tax credits. The [...]

In honor of Tax Day, here is a list of 10 arguments against paying taxes from one of my favorite sites, Mental Floss. See the article for more information and entertainment.

All corporations (C-corporations and S-corporations) are required by North Carolina law to hold annual meetings of Shareholders and Directors. While corporations are always at risk for not holding these meetings in the event of an Internal Revenue Service audit or civil lawsuit, this year the IRS is focusing on small- and medium-sized businesses to audit [...]