With the holidays behind you and the beginning of a new year, your small business has an important deadline approaching. If you have paid $600.00 or more to individuals in the form of non-employee compensation you are required to provide a Form 1099 to those by individuals by January 31, 2020.
Wondering how to properly keep track of your Interest on Lawyer Trust Accounts (IOLTA). To many small businesses, keeping records is downright confusing. We recommend keeping track of individual client funds. The best way to accomplish that is to set up your Chart of Accounts using subaccounts for each client.