Happy Monday. . it's a day for working on 1099's.
Earlier in the month I mentioned there are some changes for issuing 1099's in 2011 and 2012. Scroll down to the earlier blog post.
THE NEW 411 FOR REPORTING 2011 1099's
Today, I am working on issuing 1099's to my vendors who my business paid more than $600 to by check. U. S. tax law requires all businesses to file a 1099 for any contractor.
The United States tax form 1099, is used to claim multiple types of income other than wages, salaries, and tips. It’s technically known as an “information return.”
So if your business paid more than $600 to a person in business for themselves, a contractor or company, you too will need to obtain W-9's and issue a 1099.
What is a W-9 - below is a link for the form with instructions.
Creating a 1099 is very easy. You can create them online using Turbo Tax. I went to Office max and purchased the software. However, you can actually purchase the software online, download it and process your 1099's very easily. Below is the link.
I am very PASSIONATE about finances and I LOVE supporting you organize the heart of your business.
if you have any questions or need help, leave me a comment or you may e-mail me atd.rosenfelt@cfomadeeasy.com.
Debbie Rosenfelt
Chief Heart Officer
Hi. You can find a blank Fillable Form 1099-R here.
ReplyDeletehttp://goo.gl/SkWo9W
You can fill out the form, save it, fax it, and email it. Please feel free to use it.