Pronto Tax School

Tax Updates

New IRS Form 1099-NEC

There is a new IRS form meant for business taxpayers to utilize when they pay or receive nonemployee compensation. The 1099-NEC is being reinstated for tax year 2020 and beyond. The “NEC,” stands for Non Employee Compensation.

California Proposition 22 Passed

California Proposition 22 passed leading to new benefits for app-based drivers, including some guarantees. In this article we will be breaking down the new benefits that are now available to app-based workers operating as independent contractors.

Dazzle Your Tax Clients with Good News!

Dazzle your clients with good news! Congress has approved a new Charitable Contribution deduction. This deduction is available to those who provided cash gifts to legal 501C charitable organizations. The Charitable Contribution deduction is for up to $300.