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Posts Tagged ‘Form 1099’
3 Proven Reasons You Should Be Prepared to File a Tax Extension This Year
The government finally passed the American Taxpayer Relief Act of 2012 at the last minute. So, we have avoided the Fiscal Cliff…for now.
Now it’s time to file your 2012 tax return. Or is it?
Here are 3 Reasons You Should Be Prepared to File a Tax Extension This Year:
1) The Tax Forms Aren’t Ready
The late … Continue reading »
5 Easy Steps to File Your 1099′s….Guaranteed
It’s time for business owners to file their 1099′s.
Here are 5 Easy Steps to do this:
1) Determine who you will be Required to File a 1099 For
Form 1099 is due to any independent contractor who is unincorporated and you pay $600 or more to in a year. Additionally all payments for legal services must be issued a 1099 regardless of whether the … Continue reading »
4 Reasons to Get IRS Form W-9
1) Two Simple Questions That Taxpayers Will Need to Answer Carefully This Year
Two simple questions were added to the income tax returns last year. These were:
“Did you make any payments in 2011 that would require you to file Form(s) 1099?”
“If “Yes,” did you or will you file all required Forms 1099?”
4 Reasons to File Form 1099
1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous. This form needs to be issued to all unincorporated vendors. An unincorporated business is one that is a sole proprietorship, partnership or limited liability company (“LLC”).
2 Simple Questions That Taxpayers Will Need to Answer Carefully This Year
Do you file a Schedule C, Profit or Loss From Business or Schedule E, Supplemental Income or Loss (From Real Estate or Partnerships)? If so, you will notice there are 2 simple questions that have been added to these forms. They are:
“Did you make any payments that would require you to file Form(s) 1099?”
“If “Yes,” did you or will you file … Continue reading »
