014. Are YOU Required To Send Out Any 1099s? The What, When, and How of 1099 Tax Documents

Описание: You might already be familiar with the 1099s you RECEIVE as a business, but did you know that you ALSO have a requirement to SEND any 1099 documents to individuals and businesses that meet certain criteria? It’s not just a responsibility of large corporations - ANY small business may also need to send out 1099s at the end of the year.



Today’s episode is going to walk through the 4 requirements to review to determine if any of your vendors need to be sent a 1099, when these 1099s need to be sent by, and how to actually file them.



 



Ready to take your learning a step further?



Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system.



Sign up now: www.findingfreedomfinancial.com/masterclass (http://www.findingfreedomfinancial.co...)



 



Other Ways to Work With Me:




• If you’re ready to just hand the numbers off to someone so you can stay in your own zone of genius, apply for one of our open client spots so we can take it off your hands. Don’t worry, we’ll send you your financial reports each month so you can feel confident in your numbers without doing the work yourself. Apply now by booking a coffee chat consultation at www.findingfreedomfinancial.com/contact (http://www.findingfreedomfinancial.co...)


• Need some guidance on how to do you own bookkeeping in Quickbook Online? Then check out Bookkeeping Made Simple for Boutiques, our signature course that walks you through the exact setup & process you need to implement for accurate and EASY bookkeeping all year long - no more tax time scramble! Enroll at www.findingfreedomfinancial.com/course (http://www.findingfreedomfinancial.co...)


• Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/income-expense-spreadsheet (http://www.findingfreedomfinancial.co...)




 



Prefer to learn while you read? Check out the blog post for this episode:



https://www.findingfreedomfinancial.c...



 



Related Episodes & Resources Mentioned:




• How to order paper copies of blank 1099 forms: https://www.irs.gov/pub/irs-news/at-0...


• Software options you can use to electronically file & send your 1099s: Quickbooks Online (https://findingfreedomfinancial.com/qbo) or Tax1099 (https://www.tax1099.com/tax-1099-efil...)


• Get your bookkeeping all caught up with Bookkeeping Made Simple for Boutiques to easily identify which vendors you need to send 1099s: www.findingfreedomfinancial.com/course (http://www.findingfreedomfinancial.co...)