You may file or receive 1099-MISC and 1099-NEC in tax season. If you are a business owner, freelancer or independent contractor. These Forms are used to report the non-employee compensation paid to contractors or freelancers, but missing the filing deadlines can result in significant penalties.
In this brief, we will explain:
What a 1099 form is…
An EIN is essential for businesses and nonprofit organizations. It is vital from hiring employees and opening business accounts to tax reporting. But the question is, "What happens if you lose or misplace your EIN?".
No worries! You can quickly retrieve your EIN and ensure that your tax filings are accurate and on time, with our…
Received a 1099-K form and don’t know how to report or offset it? You are not alone. Many freelancers, sellers, and even casual users of platforms like eBay, Ticketmaster, Venmo, and Cash App are suddenly facing unexpected tax forms. These forms are directly impacting your tax bills. However, you can write them off, and we…
If you are starting a new job or running a business, you will surely come across the two main tax forms, the W2 form and the W4 form. These forms look similar at first glance, but both of them are used for different purposes.
In this brief, we will describe the difference between W2 and W4…
Think of the 1099 form as a heads-up to the IRS. But what if your business is already incorporated? This guide cuts through the confusion! We will explain when and why corporations, including S Corps, C Corps, and LLCs, get a 1099 form, and when they don't.
What is a 1099, and why are Corporations Exempt…
If you paid contractors, freelancers, or landlords during the tax year, you are probably required to file a 1099 form. But which form do you use? We have a list of 1099s, but the common ones are 1099-NEC and 1099-MISC.
In this brief, we will explain to you how to choose the right form. Fill it…