TBC Information Network

Teal, Becker & Chiaramonte offering valuable insights, impressions and commentary on today’s financial and business world.

New Form for 2020

New for 2020 – the IRS has created a new Form for 2020 to report Miscellaneous Compensation only – This is Form 1099 NEC (Non-Employee Compensation).  The 1099 MISC. has been revised and box numbers rearranged and is still applicable for other reporting. To get more information about the 1099-NEC please view it HERE.  You… [keep reading…]

What Does It Mean To Be A Real Estate Professional?

In order to understand what this designation means we need to look back in history to see why it is so important. Prior to 1986, real estate “tax shelters” were used to reduce the taxable income of individuals who were not engaged in the business of real estate. Anyone willing to be a landlord or… [keep reading…]

Nonprofit Board Service

Nonprofit organizations of all kinds (charities, chambers of commerce, membership organizations, etc.) need board members to help guide them. Board service can be a rewarding experience, offering an opportunity for giving back to your community, personal growth, and professional advancement. What should you consider before joining any board? Find an organization with a mission that… [keep reading…]

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