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Compliance Month September 2026
Cultivating success through year-round compliance.
"It is only the farmer who faithfully plants seeds in the spring who reaps a harvest in autumn."
B.C. Forbes
The thought of small business legal and tax matters can seem stressful and overwhelming, but good good compliance isn't a barrier to business growth—it is the foundation of it.
By sowing the seeds of strong compliance regularly, we eliminate stress and protect your hard-earned growth. It can reduce taxes, streamline processes, improve employee engagement, increase changes of lending, enhance community and corporate trust, aid in audits, reduce costs, fines and penalties, and it provides accurate financial data for tax planning and strategic decision making.
Got questions? Please let us know! The compliance and financial integrity of your small business is our top priority.
Corporate Compliance
Got a Limited Liability Corporation (LLC)?
Every two years (on the odd years) the Nebraska Secretary of State requires Limited Liability Companies (LLCs) to complete their Biennial Reporting by April 1st.
Limited Liability Partnerships are required to file Annual Reporting every year by April 1st.
Information, instructions, and reports may be filed online from the Nebraska Secretary of State website during the reporting period.
The s-corporation comes with many benefits, but there are requirements that you must adhere to in order to maintain your s-corporation status. One of them being, Corporate Minutes.
All business owners must document annual meeting minutes, even if you are the sole shareholder.
Whether electronic or paper, supporting documentation is required for all business affairs.
Small business documentation includes:
- Financial records like income receipts, asset records, balance sheets, general ledgers, tax returns, W9s, proof of tax credits, receipts for all expenses, and documentation with proof of business purpose for things like meals and travel.
- Legal and operational documents such as business licenses, permits, contracts, and employment agreements.
- Labor documents such as invoices for 1099 payments, W4s, I9s, and garnishment paperwork.
Check with your Insurance provider to ensure you are properly insured to do business. General business liability coverage is typically required.
In addition, employers are required to have Workers Compensation Insurance for W2 employees and certain contractors.
Tax Compliance
As a business owner, it is your responsibility to pay Federal and State income taxes on the money you earn as you go through the year. These payments are referred to as estimated tax payments.
Estimated taxes are due four times per year in April, July, September, and January.
Owners of S-corporations may also pay their taxes through payroll, in lieu of making estimated tax payments. Note: This is the process if Bell Solutions processes your payroll.
The Pass-Through Entity Tax (PTET) is an optional state income tax that eligible businesses can choose to pay at the entity level to bypass federal limits on individual state and local tax (SALT) deductions.
Whether electronic or paper, supporting documentation is required for all business affairs.
Small business documentation includes:
- Financial records like income receipts, asset records, balance sheets, general ledgers, tax returns, W9s, proof of tax credits, receipts for all expenses, and documentation with proof of business purpose for things like meals and travel.
- Legal and operational documents such as business licenses, permits, contracts, and employment agreements.
- Labor documents such as invoices for 1099 payments, W4s, I9s, and garnishment paperwork.
Maintaining complete and organized records is crucial for operating legally, monitoring progress, preparing financial statements, and meeting Federal and state tax requirements.
As a business owner, if you use your vehicle for both personal and business purposes, you can deduct the cost that is related to the business use of that vehicle. To do this, you must log/separate your business miles from personal and substantiate them with records proving the business use.
When done correctly, the business use of your personal vehicle can add up to be a substantial tax deduction!
As a business owner, if you use a portion of your home solely for business, you may be able to take a deduction.
There are two ways to calculate the home office deduction: the regular method” and the “simplified option. The “simplified option” is a flat rate of $5 per square foot of the part of the home used, up to 300 square feet, for a maximum of $1,500.
The “regular method” deducts actual expenses based on the percentage of your home used, such as part of your mortgage interest, insurance, utilities and repairs.
The IRS requires that you collect and keep on file, a Form W9 for everyone that you pay.
The W9 form determines who is required to get a 1099 at the end of each year; including all contractors, people you pay rent to, all attorneys, and any business structured as partnerships.
Always tax and audit ready!
In alignment with regulations, CFO on the Go services require documentation for all transactions and reconciliations, including:
Expense receipts on a weekly basis, Statements on a monthly basis, Income reports on a monthly basis, Employee benefits on a monthly basis, W9s as payments are made, and Mileage on a quarterly basis (recommended)
Weekly Receipts & Monthly Statements Supporting Documentation Terms of Services
Workers Compliance
Business owners are responsible for determining whether the individuals that are providing services to their business are employees or independent contractors based on the rules set forth by the Federal Department of Labor.
Once you have determined that workers should classified as Employees, then there is information that you need to secure for your records to remain compliant.
The Internal Revenue Service, Department of Homeland Security and Immigration Services, and States Department of Revenue agencies all have requirements that must be followed.
Once you have determined that workers should be classified as Contractors, you must collect and maintain proper documentation so that 1099 returns can be filed at the end of each tax year.
The Internal Revenue Service has strict requirements that must be followed for anyone paid that is not a corporation.
Effective October 1, 2025, the Nebraska Healthy Families & Workplace Act for employers with 11+ employees, goes into effect.
Federal and State law requires employers to report newly hired and re-hired employees in Nebraska to the Nebraska State Directory of New Hires.
Internal Compliance
Although not required, establishing legal contracts or agreements to define the specifics related to the services your business is providing is key in limiting risk and ensuring you get paid. Well written agreements remove confusion by providing clarity and accountability for customer and team members.
September is Compliance Month at Bell Solutions! We take the time to recognize #compliance because it is fundamental for growth - yet it's easy to forget about during the hustle and bustle of daily business.
Unfortunately, just as the season doesn't wait for the farmer to plant seeds, compliance isn't waiting for small business to catch up. It moves fast at times, and is rarely fun, but keeping your small business tax and audit ready is the primary goal of CFO on the Go