Why reinvent the wheel? Over the past 12 – 18 months I wrote a number of articles on 1099s and who the reporting did and did not apply to, from both the client perspective and the independent contractor’s perspective (since both are often companies). Here are three of those articles I believe are most applicable to you readers here…and one article by a guest poster.
The IRS requires certain companies to receive 1099s to ensure accurate reporting on their company tax returns. Does this apply to foreign companies? Read to find out.
W-9s are information forms that independent contractors — individuals and businesses – must complete in order to properly prepare 1099s. Are these required in a real estate purchase, sale or transfer? Read the article for the answer.
Insurance companies provide the actual services. Insurance agencies just broker the transaction between your business and the insurance company, right? This article provides clarification, scenarios and explanations.
One big question many companies struggle with is who (or what) qualifies as an independent contractor and who does not. A wrong assumption could result in potential back wages and employment taxes assessed against you by the IRS and Department of Labor. Get the answers to your questions and clarity on how to make the right assessment.