McCullough & Associates Blog

Jan 02, 2013

US Tax Code Changes that May Affect You

With the passing of the Affordable Care Act in July of 2012, a number of modifications were brought about to US tax codes. Many of these changes could potentially affect you and your business. Listed below are the most prominent changes:

  • Starting in 2014, U.S. citizens and legal residents are required to obtain minimum health care coverage for themselves and their dependents. This…

Sep 04, 2012

Form 1099-MISC

Are you required to file a 1099?  Form 1099-MISC is used to report payments to a non-employee for services rendered.  This form should only be filed when payments are made in the course of trade or business by corporations, LLCs, sole proprietors, and farmers.  One exception to this rule is rental businesses, which are not required to file a 1099.  If you have used the services of an LLC, you will…