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 How to Determine Who Receives a 1099 2024-2025

1099 2024-2025 Form

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Instructions and help about independent contractor 1099

hello this is Jessica Fox from sorry the virtual bookkeeper and today I want to answer a very frequent question that I get especially at the beginning of the year is how do I know if I need to issue a 1099 form to my contractors this is a very common question not just for new entrepreneurs even people that have been in business for a while it can be hard to tell and in a nutshell I will tell you it's not that easy there are a lot of ifs to determine whether or not somebody will receive a 1099 form but in essence this is something that you need to be aware of and ensure that you're in compliance now why should you care about this well first its required if you're found to not have issued a 1099 that you should have there are penalties that's less money for you that's not tax-deductible that's a cut into your profits it's money that you could have spent on something else and also if you're found to have taken a deduction for

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