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Many self-employed people will run their business as a sole-proprietorship. They are very easy to set up and cost very little to form.
First, decide on a name. For example, John Jones D/B/A (Doing Business As) Prime Time Painters. Then register your name with Town Hall. Get some business cards, letterhead and stationary. You are now well on your way.
It’s time for business owners to file their 1099′s.
Here are 5 Easy Steps to do this:
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 »
January 31st is the deadline to furnish Form 1099- Misc. to recipients.
The 1099-MISC form is used to report more than two dozen types of payments that must be claimed as income by the recipient. This category includes payments made by businesses as fees to attorneys, service providers and freelancers. Other types of payments covered by the 1099-MISC include reimbursement for auto expenses, awards and bonuses, commissions, prizes and vacation allowances for non-employees.