Description

LIVE ONLINE TRAINING COURSE

Budgeting and Forecasting Essentials: Building Smarter Financial Plans for Business Success

Effective budgeting and forecasting are critical tools for organizations seeking to improve financial performance, manage uncertainty, and make informed business decisions. A well-structured budget provides a financial roadmap, while accurate forecasting enables organizations to anticipate challenges, allocate resources efficiently, and respond proactively to changing market conditions.

This live online training is designed to provide participants with a practical understanding of budgeting and forecasting principles used by successful organizations. The course explores the complete budgeting process—from planning and data collection to monitoring performance and adjusting forecasts throughout the financial year.

Participants will learn how to develop realistic budgets, create reliable financial forecasts, analyze budget variances, and use financial information to support strategic decision-making. Through practical examples and real-world business scenarios, attendees will gain the knowledge and confidence needed to improve financial planning within their organizations.

Whether you are responsible for preparing departmental budgets, managing organizational finances, or supporting business planning activities, this course provides valuable insights that can be immediately applied in the workplace.

This course provides a practical, real-world overview of Form 1099-K and its interaction with traditional 1099 reporting. Participants will learn how payment method not just the nature of the transaction determines reporting obligations, and why accounts payable teams often do not issue any form at all for certain payments.

The session explores key concepts such as payment card transactions, third-party settlement organizations (TPSOs), and how platforms like Venmo, PayPal, and BILL can create different reporting outcomes depending on how payments are made. Attendees will also examine the evolving 1099-K reporting thresholds, including recent legislative changes and their practical implications for compliance.

Through examples and scenarios, the course highlights common pitfalls, including misclassification of payment types, incorrect issuance of Forms 1099-NEC, and misunderstandings about peer-to-peer payment platforms. The session also addresses related topics such as backup withholding responsibility, foreign vendor considerations, and how to interpret Form 1099-K when received.

Designed to be timely, relevant, and actionable, this course equips professionals with the knowledge needed to navigate the increasingly complex intersection of payment methods and information reporting requirements.

Session Highlights:
1. Introduction to Form 1099-K and Payment Reporting

•     Background and purpose of Form 1099-K

•     Relationship to Forms 1099-NEC and 1099-MISC

•     Why payment method drives reporting outcomes

2. Payment Methods and Reporting Implications

•     Credit and debit card payments

•     Peer-to-peer platforms (Venmo, PayPal, Cash App)

•     Payment platforms and hybrid systems (e.g., BILL)

•     Determining when reporting responsibility shifts

3. Third-Party Settlement Organizations (TPSOs)

•     Definition and characteristics of a TPSO

•     Examples of TPSO vs. non-TPSO payment methods

•     Identifying TPSO transactions within platforms

4. Applying the 1099-K “Tie-Breaker” Rules

•     When 1099-K overrides 1099-NEC/MISC reporting

•     “Goods and services” vs. personal payments

•     Business vs. personal account distinctions

5. Reporting Thresholds and Legislative Changes

•     Historical thresholds under the ACA

•     Changes under the American Rescue Plan Act

•     Now, can to ACA after the One Big Beautiful Bill

6. Real-World Scenarios and Common Pitfalls

•     Mixed payment methods across vendors

•     Partial reporting situations

•     Misunderstanding platform functionality

•     Improper issuance of 1099-NEC

7. Additional Compliance Considerations

•     Backup withholding responsibility

•     Foreign vendor payments

•     Why “just issuing a 1099 anyway” can be incorrect

8. Recipient-Side Considerations

•     What to do when receiving a 1099-K

•     Gross vs. net reporting issues

•     Reconciling 1099-K amounts for tax reporting

Why You Should Attend:
After completing this course, participants will be able to:

Identify when Form 1099-K reporting applies based on payment method, including payment cards and third-party settlement organizations (TPSOs).
Determine when an organization is not required to issue a Form 1099-NEC or 1099-MISC due to the application of 1099-K rules.
Distinguish between TPSO and non-TPSO transactions, including how different payment platforms impact reporting obligations.
Apply current 1099-K reporting thresholds and recent legislative changes to real-world payment scenarios.
Recognize common compliance risks, including improper 1099 issuance and misunderstandings related to digital payment platforms.
Who Should Attend:
Accountants
Bookkeepers
Office Managers
Human Resources Professionals
Compliance Professionals
Business Owners
During the Q&A session following the live event, ask a question and get a direct response from our expert speaker.

Important Notice for Our “Live” Attendees: If you have enrolled in the “Live Webinar,” you will get your instruction kit before 24 hours of the live class.

For Recorded and E-transcript Participants: If you have signed up for the “Recorded” class or for the “E-transcript,” you will get access to the “Recording link” or the “PDF” within 24-48 hours of the live class.