Starting a business can be daunting and running a successful business can come with its challenges. No matter if you are new or seasoned the same set of rules apply when dealing with the IRS. So, if you just need a refresher or if this information is new to you here is a little insight on co-mingling, reimbursements and piercing the corporate veil.

Theft, Criminal Investment Firms, and Ponzi Schemes are prevalent, and the IRS has very specific rules so you can maximize your deduction during this stressful time of losing your investment, due to no ill activity on your part. The IRS has a SAFE HARBOR way to report Ponzi Scheme losses so that you do not have to put traditional capital loss limits on your loss.

In our discussion you will discover:

· What a Ponzi Scheme is

· Delve into Discovery-Year filing

· Delve into future recovery reporting

· Delve into Documentation Requirements

· Other useful information to help you through this challenging time.

Filing 1099s can be a stressful time for the business owner, for the independent contractor and for us! IRS regulations are consistent for 1099s however there is still quite a bit of confusion about employees, contractors, businesses and individuals that get paid for services and how to report these at the end of the year.

This Podcast will:

· Explain the difference between employees and contractors

· Who is responsible for the W9

· What happens if you cannot contact the contractor

· The Dos and Don’ts of 1099 preparation

· Other useful information to help you through this requirement