Posts Tagged ‘Form 1099’


Why You Need Form W-9 Now to Complete Form 1099 Later

1099 Filing Requirements

Businesses have a responsibility to file Form 1099-MISC to all unincorporated businesses that they pay more than $600 to annually.  An unincorporated business is a sole-proprietorship, partnership or a Limited Liability Company (“LLC”).  In addition to having to file Form 1099 to all unincorporated businesses they must also issue a 1099 for all legal services and medical payments. It does not matter what type of entity these companies are.  All payments made to … Continue reading »


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:


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 provider is incorporated or not. An unincorporated business includes sole proprietorships, general partnerships and limited … 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”).


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