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When Do I Get a W-9

It’s that time of year again, when LF bookkeepers are ensuring they have all their W9s in order so printing 1099s in January is smooth and easy process.  The sooner we can get 1099s issued, the sooner we can get your books closed for the year! If you are still not sure why or when you have to request a W9 from a Vendor, we have a Field Note for that, called When Do I Get a W-9.

Tax records: What can you Toss and What Should you Keep?

Navigating the complexities of tax record retention can be challenging, but understanding which documents to keep and for how long can save you from potential audits and financial headaches.

Click here to download “Tax Records: What can you toss and what should you keep?

2025 Standard Mileage Rates

2025 Standard Mileage Rates

The IRS has announced a 3-cent increase to the standard mileage rate for automobiles driven for business in 2025. The standard mileage rate is now 70 cents per mile. Mileage rates for other purposes, however, will remain the same as 2024.

Click here to find out what the news mileage rates are

2025 Estimated Tax Payment Due Dates

2025 Estimated Tax Payment Due Dates

For estimated tax purposes, the year is divided into four payment periods. Each period has a specific payment due date. If you don’t pay enough tax by the due date of each payment period, you may be charged a penalty even if you’re due a refund when you file your income tax return at the end of the year.

Click here to find your estimated tax payment period