IRS Form 1099 Reporting for Small Business Owners

Businesses are required to send copies of Form 1099-MISC to the IRS and contractors if the business paid $10 or more in royalties or $600 or more in compensation to non-employees. Form 1099-MISC is due by January 31st to report payments made the previous calendar year. Accounting software can prepare and file Form 1099-MISC. You...

The post IRS Form 1099 Reporting for Small Business Owners appeared first on Fit Small Business.



from Fit Small Business https://ift.tt/2Ez62UG

Comments

Post a Comment

Popular posts from this blog

Tips For Hiring An Independent Contractor

Image
by Lesley Pyle, MSc., founder of  HireMyMom.com   Independent contractors can change the way your business operates. The right contractor can help you take your business to a new level by letting you ta[ a pro who otherwise might not fit into your budget. It’s also a desirable situation for many workers, including parents with childcare needs, recent retirees looking for more freedom while staying engaged, and those looking to build additional skills or pursue passions that aren’t part of their regular 9 to 5. Moreover, COVID-19 has added to the list of reasons people seek independent contractor work. Many professionals have stepped out of the workforce to facilitate e-learning or hybrid school schedules until schools resume normal operations. According to the Gig Economy Data Hub , the exact size of the independent contractor workforce is difficult to pinpoint. More than a quarter of workers participate in independent contracting in some form, and about 10 percent of workers rely
Read more

How To Promote Your Grand Opening

Image
Your business grand opening will be one of the most important — and memorable days — of your career as a business owner. You’ll always remember how much effort you put into it, and what your turnout was like. And there are plenty of reasons why a successful grand opening is so important: if done correctly, it can invoke curiosity and excitement among consumers, and set the tone for the future. Fortunately, there are several ways you can ensure that you make the most out of your grand opening. Here are some promotional tips you should consider: Give Out Free Samples. Of course, whether you’re able to do this depends on the type of product or service you offer, however, giving out free samples is a good way to start to build buzz around your grand opening. For example, if you were just opening a local coffee shop, you might set up a kiosk with small cups of coffee and engaging coffee-inspired cutouts for photos. Then, you’d hand each person who accepted a sample a flyer (or QR code)
Read more

7 Proven Tips To Fail Proof Your Startup Conveyancing Business

Image
Regardless of the popularity of buy and sell sites nowadays, the fact is that when it comes to complicated transactions involving large sums of money, people still prefer to go to the experts. However, that doesn’t mean that starting a conveyancing business is set for automatic success. As with any industry, you’ll need to learn and apply different tricks in order to achieve success in conveyance. Here are some tricks: 1. Make Sure You’re on the Registry. Conveyancing is a regulated profession with the Australian Institute of Conveyancers National being one of the most popular associations for those in the profession. If you intend to make a success of this business, then make a point of getting registered through the association. Many clients today have the foresight to check the list of registered conveyancers in their area, which means that not being registered can be a red flag against you. Hence, keep your membership up to date and even offer the information when conversing w
Read more