We have received a lot of questions from our clients on who they should send a Form 1099 to. You may be required to send a Form 1099 to businesses and individuals your trade or business made payments to during the year. Here is a partial list of payments that require a Form 1099: […]
Am I Required To Send Form 1099’s?
You may be required to send Form 1099’s to businesses and individuals you made payments to during the year. Here’s a partial list of payments that require a Form 1099: Payments for services performed by independent contractors Rent paid Interest paid on a business debt Dividends paid to a company shareholder For more information on whether […]
Think About Year-End NOW
As we approach the end of the year, it’s a good time to reflect on how your business has performed thus far. A good first step would be to determine how profitable your business has been. Then ask yourself the following questions: How does the profitability meet with my expectations for the year? Should I […]
Completed W-9 Forms Ease 1099-MISC Preparation
Were you caught off guard when it was time to prepare 1099-MISC forms for your vendors? You should have a completed Form W-9 on file for all vendors that you do business with. A Form W-9 will give you the Federal ID number of the vendor, type of entity, and the correct company name and […]
1099 Contractor vs. Employee
Determining whether or not an individual is an independent contractor or an employee is very important in terms of taxes required to be paid and forms to be filed for the individual as well as the company doing the hiring. In fact, if a company incorrectly identifies an employee as an individual contractor it could […]