Rules regarding payment processors

December 5, 2023

Do you remember when everyone was riled up around the IRS announcing the new rules for payment processors and 1099 reporting requirements? They were going to require 1099’s to be sent to everyone who received more than $600 through processors like CashApp, PayPal, Zelle, and others. Well, they are having a tough time with the implementation and are getting a lot of pushback from the processors themselves. This has caused them to delay and start slowly working their way to it.


For 2023 they are going to require processors to send a 1099-K to those who have received more than $20,000 and had more than 200 transactions. They are planning to step this down further in 2024 to $5,000 in payments received. We will see if they are actually able to pull this off or if Congress changes the law before then. In the meantime, plan accordingly on how you want to send and receive payments and what effects that will have on your tax reporting requirements.


For a full link to the IRS news regarding these issues, please see: IRS announces delay in Form 1099-K reporting threshold

Cash Flow vs. Profit: What Business Owners Get Wrong

February 13, 2026
Many small business owners assume that if their company is profitable, they must be financially healthy. Unfortunately, that’s not always true. One of the most common financial misunderstandings is confusing profit with cash flow . While they are connected, they are not the same—and understanding the difference can protect your business from serious financial stress. 

Starting the Year Strong: Financial Habits Every Small Business Needs

January 16, 2026
A new year is the perfect time for small business owners to reset, refocus, and build better financial habits. While motivation is high in January, the businesses that truly succeed are the ones that rely on systems and routines—not guesswork —to manage their finances. Strong bookkeeping habits create clarity, reduce stress, and support smarter decision-making all year long. Here are the essential financial habits every small business should establish to start the year strong.

How Bookkeeping Helps You Start the New Year Right

December 8, 2025
A new year brings new goals, new opportunities, and a fresh chance to move your business forward with confidence. But before you can set smart financial goals for the year ahead, you need a clear picture of where you’ve been—and that’s where bookkeeping plays a vital role. Accurate bookkeeping gives you the financial visibility needed to make informed decisions. Here’s how wrapping up the year properly sets you up for success: