83(b) Election – Trick or Treat?

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering You are a founder of a company or a member of the founding team of employees. Company has a lot of promise, but funds raised are for purposes other than for C-suite compensation. So, the Board decides to compensate you with equity stock. Once…

Read More

Should I issue 1099s for my payments?

By Gary Hewamadduma ACMA, CPA, CGMA, MBA, B.Sc.(Hons) in Computer Engineering All businesses have goods and services vendors. IRS mandates that all service-related vendor payments be reported on a form 1099 at year end, with a copy to IRS. However, there is a quite a bit of confusion around collection of W9 form and submission…

Read More