Taxes FILE for $25 Federal and Wisconsin

Use Form W-4V to change your Federal Withholding on your Social Security payments

Personal Property Tax

Wisconsin passed Act 12 in 2023 eliminating the personal property tax.

Tax Preparation & Planning

Effective tax preparation and planning can help you to minimize your future tax liability. We can help you proactively manage both your personal and your business tax issues, including understanding how upcoming business opportunities effect your taxes.

Not all tax planning opportunities are readily apparent.  Completing your tax organizer is critical for us to understand your tax situation as it changes from year to year.  Providing us a completed tax organizer guarantees you reimbursement of tax penalties.

As a team, you are more likely to benefit from changes in the tax code. We understand how the latest federal, state and local tax legislation and other developments affect you and your business and we are constantly identifying new ways to reduce your federal or state taxes.

What happens if a contractor or vendor refuses to fill out a W-9 form?

  1. Make sure to document any attempts to request a Form W-9 in writing. The easiest way to do this is via email. The IRS requires that you request a W-9 using “three solicitations”.● The first request should take place at the onset of your business relationship, prior to paying any sums to the person.
    ● The second request should occur by December 31 of the same year in which you started working together.
    ● A third request should happen by December 31 of the next year.
  2.  If your requests prove unsuccessful, you must begin backup withholding of 24% immediately and report on IRS Form 945.
  3. If you have paid the vendor or subcontractor at least $600 over the course of the year, you still need to file a Form 1099-NEC for this payee. Because you do not have the needed information to fill out a digital Form 1099-NEC for this vendor, you must complete a paper form. This is due to the fact that the IRS won’t allow for blank spaces on a digital form.When preparing the paper Form 1099-NEC, make sure you write the word “refused” in the Tax Identification Number (TIN) box where you would normally put their social security number or employee identification number.
  4. Once the Form 1099-NEC is complete, send the vendor and the IRS their copies just like you would for anyone else.

Sales Tax Services

State and local tax authorities are looking to maximize sales tax collections. We can help you understand and manage your sales tax obligations and prepare sales tax returns in an efficient and timely manner.

Keep in mind, If your small business does not file a 1099 for everyone that should receive one, you may have to pay a penalty ranging from $50 to $270 per unfiled 1099.

Genius Scan – scan your paper documents and save them as a PDF.