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It is very likely that we would all agree that our Maine winter is well underway. With the wind, the snow and the first days of January we find ourselves just around the corner from tax season.
Over the next few months and throughout the coming year you may notice that we are sending out additional mailers and email messages in an effort to keep you abreast of current laws, and changes as well as provide you with relevant tips and useful information.
We hope that you had a wonderful holiday and a happy New Year!!
Austin Associates, PA, CPAs
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An update on the latest news related to 1099's:
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Enforcement
You MUST give a 1099 form to anyone that you pay rent of $600 or more.
You also MUST give a 1099 to anyone you pay for a service of any type of $600 or more. *If the payment was made to a corporation, then a 1099 is not required except for lawyers.
You should have anyone who provides a service to you, complete a W-9 before they are given a check.
If you have not received the W-9 before preparing a check, you are required to withhold 28% of the total billed amount and pay that money directly to the IRS.
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If you need a W-9 form please visit the information center on our website by clicking this link: www.austinpa.com or call our office.
We would be happy to prepare your 1099's for you, just give us a call: from locations within Maine 1-800-605-9263.
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2007 Maine Innkeepers Annual Conference
Austin Associates, PA, CPAs has been a proud Allied Member of the Maine Innkeepers Association for many years. In November we attended the Annual Conference by joining the exhibit, along with other Allied Members, in the Old Town Hall at the Hilton Garden Inn Freeport Downtown. To learn more about the services we offer specifically for members of our State's hospitality industry please call our Auburn office at 207-783-9111 or email us. |
