Proper issuance of Form 1099-NEC remains a critical compliance obligation for entities engaging independent contractors. For the 2025 tax year, any business that pays $600 or more to a non-employee for services must furnish each qualifying payee with a Form 1099-NEC. Failure to meet this requirement may not only trigger significant monetary penalties but may also result in the disallowance of associated business deductions. 

As each year draws to a close, many employers choose to recognize their teams with holiday gifts as a gesture of appreciation and goodwill. While these tokens can foster positive workplace morale, they come up with specific tax implications that must be carefully considered to maintain compliance and avoid unanticipated tax liabilities. The most critical factor in determining the taxability of these gifts is whether they qualify as a “de minimis” fringe benefit under IRS guidelines. 

Small business growth can sometimes feel like it has hit a ceiling, leaving you wondering how to push your profitability and market share to the next level. The answers often lie hidden in plain sight, within the successes of those around you. Analyzing your competitors is not about copying their every move. It is about conducting strategic intelligence. By understanding the financial decisions and operational efficiencies of other successful businesses in your field