The latest in notary, Apostille, and business news from New York, NY.
If your business has an outstanding line of credit, the interest rate you’ll pay is the current interest rate set by the borrower. This rate, which is likely geared to the bank’s prime rate, is effectively fixed according to the fed funds rate. As the fed funds rate increases, so does the prime rate, and thus the rate you pay on your line of credit.
Read MoreForm 1099-K, Payment Card and Third Party Network Transactions, is filed by third-party settlement companies. This includes banks and payment processors, such as PayPal, that handle your credit and debit card payments as well as electronic payments. It also includes payments made via Venmo, Cash App, and other such apps.
Read MoreNew Hampshire is seeking to sue Massachusetts directly at the high court in a case that would affect billions of dollars in income taxes paid by people who worked from home during the coronavirus pandemic. Should the justices let the case go forward, it could determine the fate of similar, permanent tax laws in New York and five other states.
Read MoreDo you work from home? If so, others share your situation. The U.S. Small Business Administration says 60.1% of all firms without paid employees are home-based. The same ca be said for 23.3% of small employer firms, and 0.3% of large employer firms. Work from home? Determine whether to claim a home office deduction, which effectively transforms some personal expenses into business write-offs.
Read MoreCOVID-19 has resulted in nearly 290,000 deaths in the U.S. in 2020. These numbers are on top of those who died from other causes this year. For many of these people, their demise was sudden and unexpected. Bottom line: All business owners need to think about their mortality and be sure they have the documents in place to reflect their intentions and protect their family and their business.
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