business

As a small business owner, you are required to issue a Form W-2 Wage and Tax Statement to all of your 2021 employees and a Form 1099 to all of your independent contractors by January 31, 2022. You should verify employees’ information for their W-2s. This includes names, addresses, and Social Security or individual taxpayer identification numbers. Indicate to PPG Partners or your payroll service provider — whoever prepares your W-2s — any changes or incorrect information as soon as possible. Form 1099 is used to report amounts paid to independent contractors. If you hired independent

Following the federal income tax treatment of business-related meal and entertainment expenses has been a rollercoaster ride in recent years. Here we will get you up to speed on the current deductions (or lack thereof) available for your business. 100% deduction: Business-related food and beverages provided by restaurants in 2021-2022 The CAA, the 2020 COVID-19 relief bill, included this temporary change. The “provided by” language means both sit-down meals and take-out. This does leave some unanswered questions, such as whether this includes airport lounges or bars that serve food. The IRS