Small Businesses at Risk with Zelle Loophole for 1099-K Rule
Small businesses that use the payment platform Zelle may still be responsible for reporting 1099-K income to the IRS. This is despite Zelle representatives saying that the new tax rule does not apply to their service and that they will not be issuing 1099-K forms to its customers.
Source: Fox Business.com
Cash May Be the Best Holiday Gift for Employees
Small business owners trying to find the perfect holiday gift for their staff should consider a cash gift. Cash allows the recipient to choose how to use it and avoids the awkwardness of giving something that doesn’t fit with an employee’s lifestyle.
Source: Motley Fool.com
U.S. Treasury Announces $1.5 Billion in funds to Boost Small Businesses
The U.S. Treasury will distribute $1.5 billion in funding to seven states to promote small business growth. Through the State Small Business Credit Initiative, the funds will go to Florida, Georgia, Illinois, Louisiana, North Dakota, Oklahoma, and Virginia.
Source: U.S. Treasury
Small Business Administration Waives Disaster Loans Payments and Interest for the First Year
The U.S. Small Business Administration (SBA) will waive payments and interest on disaster loans in the first year. The goal is to help lower overall costs for businesses impacted by recent disasters.
Source: Small Business Trends
Five Tips to Take the Stress Out of Filing Small Business Taxes
With the new year approaching, now is the time to start organizing for tax season. Here are five ways to make this process more streamlined and less stressful.
Source: Atlanta Small Business Network
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