Friday, January 4, 2013

1099's

Subconsultants certainly require 1099's; but did you also know you're required to send them to your Landlord and your Lawyer as well?  Rents actually get reported in box 1 and attorneys are due a 1099 misc for any funds $600 or more.

As many of us are aware 1099 miscellaneous forms are typically given to subconsultants that are not incorporated.  For example if you higher a Graphic Designer and pay them $600 or more during a fiscal year you'll need to send them a 1099 misc by January 31st.  Other sub consultants could include landscapers, contractors, business consultants, commissions, basically anyone who provides a service (not a product) that is not incorporated.

1099 Instructions:
http://www.irs.gov/pub/irs-pdf/i1099msc.pdf

2 comments:

  1. Book keeping is a task that is most accurately accomplished when completed on a daily basis.

    book keeping melbourne

    ReplyDelete
  2. Find blank and fillable 1099-Misc forms at PDFfiller.
    http://goo.gl/ByTHB7

    You can fill the text fields, add a variety of checkmarks, digitally sign the form and even add pictures. After your PDF form is completed, it can be printed, emailed, faxed or saved on your computer. You can even send fillable PDF forms to your customers, employees, vendors and partners.

    ReplyDelete