This post is provided by one of our trusted publishing partners.
In a year that has tested small businesses in countless ways, clinging to traditional, time-intensive practices is no longer an option. Today, businesses must be resilient, responsive and receptive to the latest online tools and solutions to work smarter (not harder).
Take annual information reporting of W-2s, 1099s and ACA forms.
It’s a necessary requirement for businesses who pay employees and independent contractors, but it doesn’t have to be a drain on your time and resources.
The truth is, if you’re still relying on traditional paper form-filing, or even software, you’re creating more work for yourself!
It's Time To Make A Change
By switching to cloud-based e-filing, you can tap into a handful of advantages that will give your business a much-needed efficiency boost this tax-filing season.
With an end-to-end, cloud-based service like efile4Biz.com, you can expect:
✔️ Convenience
Instead of downloading software or handling mountains of paperwork, simply follow a few easy, on-screen prompts.
You can immediately access your records and forms from wherever you’re working that day, in addition to maintaining online storage of filed forms and payer and recipient data for at least four years.
✔️ Affordability
Only pay for the number of forms filed, even if it’s just one. In most cases, online filing is much more affordable than purchasing software or packages of forms.
✔️ Reduced Effort
In addition to the dollars and cents impact of paper filing, there are the labor costs to consider.
E-filing is a highly streamlined and efficient process meaning you save valuable time and output associated with printing, mailing and manually submitting 1099s and W-2s.
✔️ State-Of-The-Art Security
With reputable e-file sites, all data is encrypted under strict IRS guidelines using the strongest encryption program available. End-to-end data encryption blocks the interception or interruption of information by a third party and keeps your data safe.
✔️ Greater Accuracy
In addition to the numerous prompts that ensure compliance with the latest tax rules, reputable e-file sites handle the math. Data entry errors are caught, and mistakes are prevented. In fact, the IRS considers e-file returns to be virtually error-proof, with an error rate of less than one percent.
✔️ Easy Integrations
New app integrations, including QuickBooks® Online Plus and Xero, let you import 1099 data in just a few clicks from the software systems you already use.
✔️ Multiple Form Types
Depending on your needs, you can electronically file W-2s for reporting employee wages, various 1099s for reporting non-employee compensation and other business payments, and 1095 ACA forms for reporting employer-provided health insurance coverage.
This form range includes the latest Form 1099-NEC, which replaces the 1099-MISC box 7 for reporting payments to independent contractors in 2020 and beyond.
Take The Next Step For Your Business
Make the Sensible Switch with efile4Biz.com
Ready to move away from paper filing and software and upgrade to online filing?
Create your account for FREE and explore all the advantages of e-filing with efile4Biz.com today.
Related Posts
Jaime Lizotte is a manager for efile4Biz, a provider of tax compliance products for small and medium sized businesses. Jaime began her career in 2007 as an HR Manager at a small marketing firm. Passionate about HR, and full of ideas about how to improve staffing in small businesses, she transitioned her expertise to product development in 2010. During her career she has both managed and developed various HR and tax compliance solutions, from training and safety to HR and tax software. In her current position she is focused on developing next generation products to replace traditional HR and tax solutions, making employee management easier for employers.