Year-end catch-up and cleanup.
Bank and card reconciliations, uncategorized transactions fixed, and a clean 2026 close for you or your tax preparer.
Year-End & 1099s
2026 year-end bookkeeping and 1099 help in Burke, VA
7Bay Finances is an accounting and finance firm in Burke, VA. We catch up and reconcile your books, sort out which contractors need a 1099 under this year's new rules, and get the forms filed on time, in English or Spanish.
- QuickBooks ProAdvisor
- Serving small businesses since 2020
- English & Spanish
1099 readiness.
For payments made in 2026, the 1099-NEC and 1099-MISC threshold is now $2,000. We review your vendor list, collect W-9s and prepare the forms.
Filed the new way.
The IRS's FIRE e-file system closes on Nov 19, 2026, so 2026 information returns go through IRIS. We make sure your forms are filed on time.
Payroll year-end.
2026 W-2s report qualified overtime (Box 12, code TT) and cash tips (Box 12, code TP). We check your payroll setup before forms go out.
Close 2026 clean, and get your 1099s right this year
Year-end is when small problems in the books become big ones: unreconciled accounts, transactions nobody categorized, and vendors with no W-9 on file. The earlier you start, the easier it is. December is a much better time than April.
We reconcile every bank, card and loan account through December 31, fix uncategorized and duplicate transactions, review fixed asset purchases and payroll, and deliver a clean 2026 file to you or your tax preparer.
Start 2027 with books you trust
New wage rates, new W-2 rules and new filing systems make January the right time to reset. Virginia's minimum wage rises to $13.75 on Jan 1, 2027, and Maryland sellers must e-file sales and use tax for periods after Dec 31, 2026. 7Bay sets up your chart of accounts, job costing and payroll so the whole year runs clean.
FAQ
Common questions
Do I still need to send a 1099 to every sub I paid?
Not necessarily. For payments made in 2026, the IRS threshold for Forms 1099-NEC and 1099-MISC is generally $2,000, up from $600. We'll go through your vendor list with you and confirm who needs one.
My books are months behind. Is it too late to fix 2026?
No. Catch-up work takes time, so the earlier you start, the easier it is. December is a much better time than April.
What happened to the IRS FIRE system?
The IRS's FIRE system takes its last information returns on Nov 19, 2026 at 3 p.m. ET. Tax-year 2026 forms are filed through the IRS's newer IRIS system, and we make sure your forms are filed on time.
I already have a tax preparer. Can you still help?
Yes. We'll get your books caught up and reconciled and hand your preparer a clean file. If you don't have one, we offer tax preparation too.
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Ready for books you can trust?
Book a free 15-minute consultation by video or phone. We'll talk through your business, what you need and the next steps. In English or Spanish.