Don't get caught paying their back taxes because you didn't set up the right forms. Every type of entity (Corp, LLC, Sole Proprietor) fills out a W-9 form. If they are corporations, they don't need a 1099, otherwise if they make more than $600 a year, they do. Each unfilled 1099 can carry a $250 fine, plus penalties.
Keeping Files on Hand
The IRS says 7 years, but I've seen audits for longer periods. Ten years is a good rule, and forever is even better.
What Our Clients Are Saying
"Yvonne has worked for me for over 15 years. She has done my practice accounting, my property management accounting, my personal bookkeeping and handled all the paperwork for closing my step fathers estate and taking care of the bill paying for my mother who is in a nursing home. She also works with my CPA for tax return preparation. I highly recommend her. She does it all."