1099 G Information (All States)

Frequently clients don’t bring us the 1099Gs for the state refunds and we are held up waiting to get the EINs and addresses that would appear on the 1099Gs. Here is the list of necessary information for all of the states’ 1099G. Alabama    #63-6000619   Alabama Department of Revenue, 50 Ripley Street, Mongomery, AL 36132-7410

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1099-C & Insolvency

1099-C Form 1099-C (Cancellation of Debt) is used to declare amounts of $600 or more that is forgiven or canceled by a lender or creditor, including the abandonment of secured property or a foreclosure. The amounts reported on the form may include principal, interest, fines, late fees, penalties, and administrative costs. This can include debt from

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Section 179 Deduction FAQ

What is it? Section 179 of the U.S. internal revenue code is an immediate expense deduction that business owners can take for purchases of depreciable business equipment instead of capitalizing and depreciating the asset over a period of time. This allows businesses to lower their current-year tax liability rather than capitalizing an asset and depreciating it over time in future tax

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