If you encounter a problem in business or in your personal life, making the correct decision is crucial.

This 6 step process will help you reach the right decision every time.

To help you remember the process, here is a mnemonic:

IABEAD

I Am Better Equipped At Deciding

Identify, Analyze, Brainstorm, Evaluate, Anticipate, Do It…!!!

These are the 6 processes you should consider when you have a decision to make.

Depending on the complexity of the issue you may need to formally document each process so that the decision can be reviewed or amended based on changes in any of the steps.

Some complex decisions will require all 6 processes...

This series of articles is intended for informational use only and does not represent tax or legal advice; the information is believed to be correct at the time of publishing; the author cannot be held liable for any losses resulting from actions taken on the strength of the information provided.

If you need assistance with 1099s or any other IRS related form you are encouraged to visit www.irs.gov and/or seek the services of a reputable tax lawyer.

Essential Preparations


What can a small to medium business do to get ready for 2012?

Firstly, if you are using your social security number (SSN) as a tax identifier, stop..! Go to the IRS web site and apply for an Employer ID Number...

This series of articles is intended for informational use only and does not represent tax or legal advice; the information is believed to be correct at the time of publishing; the author cannot be held liable for any losses resulting from actions taken on the strength of the information provided.

If you need assistance with 1099s or any other IRS related form you are encouraged to visit the IRS Web Site and/or seek the services of a reputable tax lawyer.

Business Implications

Under current law, a business is only required to file a 1099 with the IRS for services totaling $600 or more in a given tax year paid to individual workers that are not part of the wage or salary infrastructure of the company....

This series of articles is intended for informational use only and does not represent tax or legal advice; the information is believed to be correct at the time of publishing; the author cannot be held liable for any losses resulting from actions taken on the strength of the information provided.

If you need assistance with 1099s or any other IRS related form you are encouraged to visit the IRS Web Site and/or seek the services of a reputable tax lawyer.
New Legislation

The Patient Protection and Affordable Care Act of 2010 was a massive 2,400+ pages but hidden in plain sight on page 737 was a very important section.

Beginning in January 1, 2012 for tax returns in 2013 all companies will have...

A sequence of numbers from an IQ test? A quarterback calling a last minute change of play? No, just some of the numbers that could mean a major headache to all companies in USA, but especially small businesses that do not have the resources or expertise to handle a potentially huge increase in accounting paperwork and tax procedures.

What do the numbers mean? 737 is the page number of the Patient Protection and Affordable Care Act of 2010 that details changes to section 6041 of the Internal Revenue Code of 1986 which will affect submission of tax form 1099 for the year 2012.

This series of articles is intended for informational use only and does not represent tax or legal advice; the information is believed to be...