OCTOBER

Beginning with the 2026 tax year, the threshold for issuing 1099s has increased to $2,000, up from $600. As a reminder, you do not need to issue 1099s when payments to contracts have been made via credit card. 

Due to inflation, the standard business mileage rate increased on July 1st. 

January – June: 72.5 cents per mile.
July - December: 76 cents per mile.

With the IRS's Tax Withholding Estimator tool, you can use your business financials and household paystubs to estimate your federal income tax

Supporting documentation audits were completed in April and communications sent for any outstanding items needed. By supplying your supporting documentation for the first part of the year, we can ensure your small business is compliant and prepare your mid-year financial information!

Receipt Capture is available for current expense receipts only. Receipt Capture does not support expenses that are for previous months. Receipt Capture does not support statements, deposits, letters, or documentation that is not an expense receipt.

All corporations (LLCs) need to hold and document an annual shareholder(s) meeting. You can hold more meetings, if needed, but one per year is the minimum requirement. Documentation of this meeting is referred to as 'minutes'. Learn more

By supplying Weekly Receipts, Monthly Statements, and not altering data in QuickBooks; we guarantee that your small business will remain tax and audit ready. 

The CFO on the Go client page is updated every 45-60 days with all of the latest information, processes and measures we are taking to ensure your small business is always tax and audit ready.