PABS
At the end of the financial or fiscal year, you gather income, expenses, assets, and liabilities and record them in a standard set of financial statements. Once organized and reconciled, these year-end financial statements help you better understand your business’s financial position. While these statements are essential all year round, they never matter more than […]
Count down to the new year has begun. Now is the time to review your financial journey, where you are and where you are heading to, wrap up pending tasks to accomplish goals for 2023 and plan what you want to accomplish in 2024. Year-end accounting plan looks a little different for everyone. It’s a […]
Accounting firms, regardless of their size, frequently encounter limitations in terms of available resources, time, and expertise. The seasonal nature of tax work, coupled with strict deadlines, can easily overwhelm internal teams. Tax regulations are in a constant state of flux, requiring ongoing training and staying updated with the latest changes. Additionally, meeting the diverse […]
Countdown to Christmas has already begun. It’s that time of the year, which is meant to be more relaxing, enjoyable, and full of pleasant surprises, but where does the other strange feeling come from? Aaahhh, yes! Tax season 2023 is approaching. Peak season pressure of meeting strict deadlines isn’t new for accounting firms. No one […]
What is Tax Form 1099? Form 1099 is used in the United States to prepare and file for information to report various income types other than wages and salaries. The form is also used to report independent contractors’ payments, rental income, income from interest and dividends, sales proceeds, and other miscellaneous income. How to file […]
Form 1099 is an information return to report incomes, wages, and salaries to filing for a tax return. The form is used to mention payments, including rental income, income from dividends, and interest. There are multiple variants, out of which 1099-NEC (Non-Employee Compensation) is important for an independent contractor. What is a 1099-NEC tax form? […]
