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One of the most common questions I get asked is the one that is most difficult to answer. “How long should the accounting take?”
(This is the transcript from my Facebook Live video on Feb. 14, 2018)

I hate to sound like an attorney and respond, “it depends”, so I’m going to give that same answer in a much longer way.

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I'm going to try to go live each week to answer your accounting questions for small nonprofits, churches and businesses. I'll update this post each week with links to the latest videos.

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Did you know that 43 percent of the U.S workforce will do some form of freelancing by 2020?  Are you one of these Uber drivers, multi-level marketing distributors, online sellers, or freelancers?  The Tax Cuts and Jobs Act (TCJA) has provisions favorable to the self-employed, but many in the gig economy may not qualify if they aren't careful.

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The 2018 mileage reimbursement rates have gone up by 1 cent to 54.5 cents per businesses mile for 2018. For the federal per diem rates for travel around the US, check out their website: https://www.gsa.gov/travel/plan-book/per-diem-rates/per-diem-rates-lookup.    

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You can receive free 1099-MISC forms from the IRS to send to your independent contractors. If you paid an individual who was not an employee more that $600 in 2017, you may need to file the 1099-MISC forms and the transmittal Form 1096 to the IRS by the end of January 2019. For detailed information on who is an independent contractor, check out Church Accounting-The How-To Guide for Small & Growing Churches. The forms received from the IRS are the manual type with several layers. If you have more than a dozen to send, you may prefer the computer type...

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