Archive for December, 2012

26.12.2012 News

LMGW Holiday Decorating Contest

Congratulations to one of our newest staff members, Chris Burich! He is the winner of the 1st annual LMGW holiday decorating contest. Chris had a little assistance from some very special helpers – his wife Kelly and two adorable daughters.

The judging took place on Thursday, December 13, 2012 and the winner was announced at our annual Hot Cocoa and Secret Gift Exchange. To view all the contestants’ photos click here.

Happy holidays from all of us at LMGW!

 

20.12.2012 News

Form 1099 Required Reporting

The Internal Revenue Service requires the filing of Form 1099 for every person or business to whom you paid $600.00 or more in your trade or business for commissions, fees, and other forms of compensation for services rendered during 2012. Examples of payment for services that should be reported include rent paid, outside labor, management fees, legal fees, accountant fees, medical fees, and repairs & maintenance.

The IRS and state taxing authorities can assess penalties for failure to file these forms. Additionally, they may disallow these deductions if you do not file.

You are not required to file Form 1099 for 2012 if the person or business to whom you paid is a corporation, unless the payments are made to an attorney or to a medical or health service provider registered as a corporation.

If you would like LMGW to prepare the required forms for you, please fill out the LMGW 1099 request form and return it by sending an email with the request form attached to 1099@lmgw.com. You can also fax or mail back the request form to the fax number and address listed below.

Please download and use Form W-9 from our website to request the required information from your vendors, if needed.

The deadline for filing is January 31, 2013. In order for LMGW to guarantee your forms are timely filed, we ask that we receive all necessary information no later than January 18th, 2013.

Please call Collin at 408-252-1800 ex. 232 or email 1099@LMGW.com if you have any questions.