NSAC Happenings and Latest News - Page 16
Form 1099: Shaping the Tax Reporting Landscape for More Than a Century
For more than 100 years, the evolution of Form 1099 has required organizations to repeatedly adjust their tax reporting and compliance strategies in order to allow the Internal Revenue Service to cross-check reported payments with an individual and entity’s tax return. In 1918, five years after the 16th amendment gave Congress the “power to lay and collect taxes on incomes,” businesses were required for the first time to use ...
Read MoreTCA Spring 2022 Small Business Forum: Are DAOs the New Coops?
Originally published in The Cooperative Accountant, Spring 2022 Issue There has been extensive media coverage surrounding Bitcoin but DAOs (Decentralized Autonomous Organizations) are utilizing the same blockchain technology to revolutionize organizational structure. DAOs have garnered a large amount of capital and attention in the last year. In August 2021, BitDAO raised $365 million, $230 million of which was secured within 20 ...
Read MoreDon’t Hire a Former Employee Before Asking These Questions
Many employees are on the move, looking for that next opportunity. Perhaps they want a bigger challenge, more money, or believe they need to leave their current company to advance their career. But what if they leave your company and realize the new opportunity wasn’t as great as they thought, or they left years ago, gained new skills, and now want to come back? Should you hire them? Rehiring a former employee, known as a boomerang, may ...
Read MoreNavigating the Complexities of Use Tax
The transaction tax landscape is rife with tricky and complex regulations, and when use tax comes into the equation, it gets even more confusing. But understanding how and when the use tax applies is critical to staying compliant. Imagine that a railroad company purchases tracks and wooden ties from a manufacturer in Oregon. They spread that track out over a half-dozen states, linking their rail cars all the way to Texas. Where do they pay the ...
Read More7 Tips for Using Zoom Better
BASIC TIPS Use headphones to avoid audio collisions Unfortunately, you can't monitor your own audio levels and quality in a virtual meeting. You are dependent on others to tell you when your audio isn't working well. This can cause what I call "audio collisions," when multiple people talk over each other because they are unable to hear others when they are talking. The best way to limit audio issues is to use headphones! Find comfortable ...
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