Net Income Formula: How to Calculate, Analyze and Actually Use It
Sarah runs an online store selling home décor products. At the end of the year, she checks her business bank account, $180,000 sitting there. She assumes it was a great year. Then her accountant sends over the profit and loss statement. Net income: $11,000. She stares at the screen for a long time. Where did […]
1099-NEC vs 1099-MISC: Key Differences, Deadlines, and When Each Form Applies
Every January, the same question surfaces for business owners, bookkeepers, and accountants alike: which form goes to which payee – the 1099-NEC vs the 1099-MISC? By that point the W-9s are scattered across email threads, the contractor’s address may have changed, and the deadline is two weeks out. This article breaks down exactly which form […]