Learn what you need to file for your business by the end of January to stay compliant.
Would you like to learn more about issuing a 1099? 📞 Schedule a free consultation here: https://aba.link/9d3f18
We break down the key differences between W-2s for employees and 1099s for contractors, including when each is required.
You’ll also get clarity on the $600 threshold for non-employee compensation and the reporting requirements for transactions via credit cards or services like PayPal and Venmo.
The rules can be tricky, but this walkthrough simplifies what you need to know and how to prepare. Don’t miss this essential guide to closing out your business year right!
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📖 Chapters:
0:00 Intro
1:59 When is it due?
2:29 Penalties
3:02 1099-NEC
5:42 What if I paid with CC, Cash, Check, or Zelle?
9:01 What are the reporting numbers?
12:30 Recommendation
15:11 Final Notes
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#1099 #1099nec #1099k
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