Nothing is scarier during Halloween season than knowing your 1099 filing deadlines are creeping closer. We know how much of an enormous headache the 1099 filing process is— that’s why it’s one of our most-requested services we offer to our clients. But there’s no need to stress this year: here is how outsourcing your 1099 processing can help you relax this season.
Our Certified Public Accountants and accounting professionals have experience handling 1099-NEC and 1099-MISC reporting for many different clients of all sizes. Our team of experts are well-equipped to stay on top of changing tax rules and regulations, so you don’t have to worry about compliance errors. In addition, in case a reporting error slips through the cracks, we have a thorough review system in place to ensure we catch it before submission.
Let’s face it, though— even with the most confident of accounting firms, errors can and do happen. If you make a mistake on an electronically filed 1099 form, we will file corrected forms with the IRS on your behalf.
1099 processing can be an enormous load of work on an accountant’s shoulders— and that’s on top of everything else on your plate during the year-end reporting season. Not only does filing, printing, and mailing 1099 forms take a lot of valuable time away from your accountants, but it can also be costly, depending on how many forms you have to send.
When you outsource with our team, you don’t have to worry about how many stamps you have tucked away in the supply closet, nor do you have to worry about rushing to meet your 1099 deadlines. Let us handle the busy work for you so your team can focus on more critical tasks during tax season.
In addition to 1099-NEC and 1099-MISC electronic filing, printing, and mailing, we also offer TIN matching (Tax ID verification) services to verify the accuracy of TIN/name combinations in the IRS system. In select states, we can file 1099-NEC and 1099-MISC under the Combined Federal/ State Filing Program (not supported by OGsys). W-2 electronic filing, printing, and mailing services are also available.
For more information about the 2023 tax season, check out our FORM-1099 Deadlines for 2023 blog, which includes PDFs of Form 1096, 1099-MISC, 1099-NEC, and W-9, as well as any important news for the 2023 tax season.
Have any questions about our 1099 services? Reach out to our team for a consultation!
Lauren, one of our youngest team members, comes to PetroLedger shortly after obtaining her Digital Media Innovation degree from Texas State University. Armed with knowledge of digital and social media trends, Lauren brings a fresh perspective to PetroLedger’s online identity and ensures that our company reaches new clients.
The journey from old to new oil and gas software can be an arduous one. On top of the complications that can arise during the data conversion process, many companies come to realize post-conversion that their new software may not be as good of a fit as they believed. But data conversions are costly, time-consuming projects; you really want to get these right the first time. With over 25 years of experience migrating client data, we’ll be there to help you make the decision that’s best for your business, whether your data comes from industry-standard applications, QuickBooks, legacy software, or any other unsupported systems. Our scoping process is thorough, and we’ll recommend the application we think is the best for you after some conversation about your needs. But before you decide to pull the trigger on a data conversion, here are three important questions your company should consider.
An inaccurate division order can spell a lot of trouble for all parties involved. Mispayments are not always detected expeditiously, and they can often create practical and legal challenges if they are not resolved quickly. However, the unfortunate reality for operators is that, without thorough oversight, inaccuracies are inevitable, especially when you factor in varying division order laws from state to state. These mispayments are usually caused by simple human error: miscalculations, typos, system errors, ownership analysis errors, and so on.
Our vision at PetroLedger is to be the partner of choice within the oil and gas industry for outsourced accounting and transaction services by employing the best-in-class people and processes across multiple technology platforms. Our most experienced and versatile staff resides in our Professional Services department. If you ask any of our staff, they will say it’s very rewarding to see the before and after version of their books. The PetroLedger team is a set of superheroes that transform and correct your data to better serve your organization.
If you read our Outsourced Accounting FAQs blog, you might have an idea of the optimal times for a business to start outsourcing, but how do you know if you need to outsource in the first place? In this blog, we’ve gone over some of the biggest red flags that small and mid-size E&Ps should be wary about in their accounting operations. If your business is suffering from one or more of the issues described below, now is the time to consider outsourcing your accounting functions.