Tax

Answering: How do I handle 1099s for my contractors? Estimated reading time: 10 min read Yes, you need to file a 1099-NEC for every contractor you pay $600 or more during the calendar year, with all forms due to the IRS by January 31st. The process works best when you...

Answering: How do I prepare for tax season without panicking? Estimated reading time: 10 min read Yes, you can absolutely prepare for tax season without panicking, and the secret is simpler than most Austin business owners expect: one monthly habit that takes 30...

Answering: What financial records should law firms keep in Texas? Estimated reading time: 10 min read Texas law firms must keep trust account records for at least five years and operating records for seven years to maintain State Bar compliance and IRS audit...

Answering: Do I Need to Collect Sales Tax as a Texas Contractor? Estimated reading time: 11 min read For most repair and remodel work in Texas, you do not collect sales tax from your customers because you pay the tax when you buy materials at your supplier, making you...