Catherine Belliveau, Author at Funeral Home Consulting

February 15, 2017

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Catherine Belliveau on February 15, 2017

Depreciation & your 2016 tax bill: What to consider before filing

We’re already more than a month into 2017, so it’s too late to do any tax planning before filing 2016 returns, right? Not so. Now is the time to sit down with your accountant and consider depreciation and your 2016 tax bill. New Year’s Day has come and gone. We are rolling along in 2017 and coming upon tax season. Most businesses work to complete tax planning before year-end, when you can make deci¬sions about bonuses and expenditures that need to take place before December 31. For most business owners, tax planning ends there, but there are still decisions to be made now that can have a huge effect on your tax bill. Depreciation is a vague, nebulous concept to many. You know that it shows up as an expense on the profit and loss statement and that it will […]

January 27, 2017

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Catherine Belliveau on January 27, 2017

It’s 1099 time!

As Director of Accounting Services at The Foresight Companies, I’m reminding you that your 1099’s are due on Tuesday, January 31st. It’s January and many business owners are using this month to try and forget that taxes will need to be done soon. But as you immerse yourself in denial, have you forgotten that 1099’s have to be issued? 1099’s are like the neglected middle child of taxes. People have some vague idea that they exist but they aren’t sure what needs to be done for them. Let’s go through the Who, What, When, Where and Why of 1099’s. 1. Who has to file 1099’s? All businesses that pay for services to unincorporated service providers must provide a 1099 to vendors that were paid more than $600 during the year. 2. What are the requirements for 1099’s? There is […]