Do you own the home you are living in and it is your primary residence? If so, have you filed/confirmed your Homestead Exemption to reduce your property taxes? A homestead …
How to (legally) lower your taxable income
In the final months of the year, there are only a few options left to you to lower your taxable income and reduce your tax bill. This is the #1 topic for financial planners assisting their clients.
Collecting W-9s is a Pain. But…It’s the LAW
The W-9 is critically important for businesses to collect from anyone to whom they will make payments for services. The W-9 is required in order to issue Form 1099-NEC, a new form required by the IRS for the 2020 tax year.
Acupuncture for Health
Next Step Enterprises celebrates our favorite acupuncturist and client, Izumi ‘Zoe’ Schutz, owner of Morning Quail Acupuncture. Zoe helps the Next Step team stay healthy by treating our tennis elbow and Austin allergies.
NEW for the 2020 Tax Year: Form 1099-NEC
The IRS changes Form 1099 for 2020 Tax Year!
For the 2020 Tax Year, the IRS is requiring a new form, the 1099-NEC to report nonemployee compensation. The 1099-NEC is a whole form dedicated to BOX 7 (nonemployee compensation) formerly on the Form 1099-MISC.
Zach Savage Homes: Award-Winning Builder
Meet our New-ish Client Our first meeting with Zach was at his offices off Shoal Creek in a shared conference room. The first impression we had of Zach is that …
In this world nothing can be said to be certain, except death and taxes.
Benjamin Franklin
Can I Use Digital Copies of Receipts?
I frequently get asked the question, do I have to keep the original copies of receipts and invoices as backup for expense deductions taken on my income tax returns in …