Don't Wait Till Last Minute, Do This Before 2020 Ends!
We're already halfway through December and before you know it, the new year will be here! While we are all excited for the new year, you need to get your 1099 Forms prepared early so you can get your W-9 Forms as soon as possible to have an easy start for 2021.
Some of you are asking, what is a Form 1099?
When you hire an independent contractor for your business and pay them more than $600 during this year, you would have to send the form to the IRS and provide a copy to the contractor.
But why get it done early if you can wait till next year to prepare for it?
Trust us, it is good to start early so you can avoid problems later as it takes time to get W-9 Forms. The deadline is January 31st, therefore it is way more efficient to get it done early rather to scramble for them later in risk of filing it too late and receiving penalties!
Tracking down all of the people you paid and getting their W-9 to file your 1099 can be very time consuming and take you away from running your business. We can help you file your 1099-Form so you won’t have to stress about it.
That's not all - we provide monthly bookkeeping to our members and a dynamic combination of advice and tools to help you dominate 2021! Watch out for our next blog where we go into the detail of the differences between 1099-NEC & 1099-MISC. Stay tuned!