Independent Contractors and 1099s FAQs.

The Gig-worker community is on the rise. These gig workers are now working more as independent contractors (IC's) or what we call 1099's instead of as full- or part-time employees. The tax form 1099 is designated for independent contractors and is designed to document and track payments you make to ICs for services they provide to your company. The1099s also help ICs accurately report their income when they file their taxes, as well as provide a mechanism for the IRS to ensure ICs' income is properly reported. Although the full spectrum of rules and procedures governing 1099s can change with time, the fundamentals have stayed fairly consistent, even in the wake of Trump’s tax overhaul. If

Intellectual Property: Vitally Important to Protect it Early!

When it comes to intellectual property (IP), most entrepreneurs are familiar with things like copyrights which they often confuse for trademark protections. There are three main areas of intellectual property that can help you to protect your business: (1) Copywright, (2) Patent, and (3) Trademark. These three categories are simply ways businesses can legally protect certain types of IP that they've created.. Most business owners are oblivious that their IP makes up about 80% of their overall business. Business owners are also likely in the dark about what these three forms of IP mean and thus, are failing to take extra precautions on protecting their business IP rights. Given this, it’s

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