Form 1099-K, Payment Card and Third-Party Network Transactions is an IRS information return used to report transactions made via payment settlement entities. If a business accepts payments via credit card, debit card and third-party payment networks like PayPal, they will receive a Form 1099-K for … [Read more...] about Form 1099-K – Big Changes for 2022
Accounting
Fraud in the Workplace in a Post-Pandemic Environment
The impacts of the COVID-19 pandemic have created hardships for consumers and businesses across the globe. The worldwide economy experienced significant losses in nearly all sectors and impacted virtually every household. Numerous businesses shut down, or were forced to temporarily close due to … [Read more...] about Fraud in the Workplace in a Post-Pandemic Environment
Annual Payroll Tax and Form 1099 Update
Payroll Tax Update NYS Paid Sick Leave: New York’s paid sick leave law requires employers to provide up to 56 hours (7 days) of paid sick leave to employees, in addition to New York State provisions providing up to 14 hours of emergency sick time due to Covid-19. This requirement is based on the … [Read more...] about Annual Payroll Tax and Form 1099 Update
Tools, Tips and Tidbits for 2022
By Jenny Willis, Supervising Senior Accountant Tax Year 2022 Key Amounts Standard Deduction - Married filing jointly — $25,900 - Married filing separately — $12,950 - Head of household — $19,400 - Single — $12,950 Child Tax Credit (fully refundable) - Children ages 5 and under: … [Read more...] about Tools, Tips and Tidbits for 2022
Special Edition of our Quarterly Small Business Newsletter
Read our new quarterly small business newsletter here for key information and updates you won't want to miss, plus our annual 1099/Payroll update AND a fun Holiday puzzle for those who enjoy a little challenge every now and then. As always, feel free to contact your Tronconi Segarra & Associates … [Read more...] about Special Edition of our Quarterly Small Business Newsletter
Document Retention Policies for Businesses
Setting a document retention policy for a business is no simple task because, generally, there are no specific rules. In many cases, retention policies are based on years of “best practices.” What does come into play is where there is an applicable statute of limitations, a legal requirement … [Read more...] about Document Retention Policies for Businesses