Filing 1099s always comes up on business owners faster than they expect.
In this article we won't go into the rules for who to send 1099s, we cover that in another article here.
We are just sharing our time-saving tools with you. It's time to hit go and get those 1099s filed and sent!
If you haven't been collecting W9s from your vendors, it's time to get on it! Collecting W9s in advance from all vendors is just one way to get ahead of the sprint that happens before January 31st of each year, when 1099s are due to be sent.
We have 2 tools that we use to file 1099s and want to share them with you. If you have QuickBooks Online, half of your work is done for you.
If you don't use QuickBooks Online, we recommend using Tax1099.com. They offer very affordable filings for 1099s and many other forms as well.
Here is a quick video from QuickBooks on how to PREP and FILE your 1099s within QuickBooks Online.
If you paid a vendor for services for > $600 in 2023 and you paid via cash or check, you likely need to be sending a 1099 to that vendor. Again, many special circumstances apply.
Here's a great article from Tax-1099 "Form 1099-NEC: Your Guide to Reporting Non-Employee Compensation"
Get yours out and avoid failure to file penalties!