Education

All the Form 1099 Federal Tax Deadlines You Need to Know for Calendar Year 2010

The deadlines for sending 1099’s to contractors and the IRS can get a little confusing. Use this post to mark your calendars and never worry about 1099 deadlines again! And, of course, never forget that Outright has you covered when it comes to collecting form W-9 from contractors and filing your 1099’s on time.
February 1, [...]

Posted by: Jennifer Escalona, February 5, 2010

Comments: 0

Common 1099 Mistakes – Frequently Asked Questions

1099’s were due to contractors on February 1st and are due to the IRS by March 1st when paper filing and March 31st when e-filing. We’ve mined our team of experts at the Outright Community to find the most common 1099-related mistakes and how you can prevent them. (Or, oops, rectify them!)
It’s February 3rd. What [...]

Posted by: Jennifer Escalona, February 3, 2010

Who Can be a Dependent?

You might be surprised the lengths that the IRS has gone to in order to define what a dependent is.  Most of the varied rules have been adopted, because some taxpayer somewhere tried to claim a dependent that the service decided was not appropriate.  While they don’t list the specific facts that gave rise to [...]

Posted by: Wray Rives, January 20, 2010

What expense category would be best?

From Bill:
"What expense category would be best for software and hosted software services like MS Office and Freshbooks, for example?"
Our response:
"As a matter of fact, we wrote a guest blog post about this not too long ago, based on examples just like these:
http://www.business-opportunities.biz/2009/03/10/top-9-confusing-business-deductions/
The short answer is, for MS Office, put it under "Depreciation" - why?  [...]

Posted by: admin, April 18, 2009

How do I handle depreciation for my computer purchase?

Another great support question recently came in, this time from Alexia at ARRRT!
From Alexia:
"How do I deal with equipment and depreciation on [Outright]? I bought a new computer at the beginning of the year."
Our response:
You have a two ways you can deal with equipment and depreciation:
1. Unless you plan to spend more than $250,000 on [...]

Posted by: admin, April 3, 2009

Fill out your “Profit & Loss from Business” tax form with a click

Your “Profit of Loss from Business” tax form, otherwise known as Schedule C, can now be filled out and generated right from within Bootstrap.  In addition to helping you with estimated taxes, we now provide and end of year tax view, complete with a preview of your Schedule C.  Once you’ve got all of your business finances [...]

Posted by: admin, January 22, 2009

Comments: 1