Meals and entertainment deductions cover the deduction category that now only applies to meals. This is normally a 50% deduction, but for 2021 and 2022 it's 100% for restaurants.
Entrepreneurs should consider the pros and cons before taking in venture capital or Angel Investments. The early stage financing can launch a high growth business, but also puts demands on the team to hit these growth targets.
This video will walk you through the 2020 filing season, so in 2021 new, the 1099 NEC, 1099 Non-Employee Compensation. This form replaced 1099 Miscellaneous, or Misc. So if you have contractors, subcontractors, independent contractors, whatever you want to call them, people who are not employees, not on regular payroll, you're going to need to fill out this form to report what you paid them if it was over $600. So I figured the best thing would be to go ahead and let's walk through it together.