Nonprofits must stay compliant and aware of their tax responsibilities when legally engaging with independent contractors. IRS reads employees and independent contractors differently, so Non-profits must be conversant with 1099
Nonprofits must stay compliant and aware of their tax responsibilities when legally engaging with independent contractors. IRS reads employees and independent contractors differently, so Non-profits must be conversant with 1099
Being a small business owner comes with many responsibilities, one of which is understanding 1099s. Because 1099s are an important part of filing taxes, it’s essential to understand what they
The Internal Revenue Service (IRS) classifies workers into two categories. 1099 and W-2 employees have different rights, responsibilities, and tax implications. As a business owner, understanding the differences can help
The freelance workforce is an integral part of the modern economy. With the rise of the gig economy, more and more people are working as independent contractors. However, figuring out
One of the most essential elements of making payments to consultants and contractors is collecting accurate W-9 information. This process can be laborious, especially if it’s done manually, and even
When it comes to understanding and filing taxes, a few things can be more confusing than deciphering the differences between W-9 and 1099 forms. To make life easier for contractors,
It’s tax season, and for businesses, that means wading through a sea of paperwork filled with various codes and abbreviations. One such code is the taxpayer identification number (TIN)—usually found
Business owners, have you been receiving customer payments through third-party entities? Good news and bad news: you may be required to meet new 1099-K reporting requirements in 2023. Read on
Tax season is a busy time for businesses and individuals alike, but it’s essential to ensure everything is filed accurately. One of the most important forms to get right is
Filing 1099-MISC forms can be quite a complex task. It’s important to know the ins and outs of filing correctly. Otherwise, you could end up with hefty fines and penalties.