Your guide to navigating 1099 requirements like a professional - Upscale Bookkeeping

YOUR GUIDE TO NAVIGATING 1099 REQUIREMENTS

LIKE A PROFESSIONAL

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Here’s our #1 tip on how to save yourself from stress come January 1st: Think about 1099s all year long. Believe us when we tell you, that nothing is worse than begging your vendors for W9s on January 1st when you have an impending 30-day deadline to file your information returns. The consequences of not doing so can be crippling for your small business if the IRS decides to penalize you.

The ebook below walks you through the various 1099s and guides you through the who/what/when/and why of 1099s (last update 2024). After you take the information from this ebook, further your research to gain a full understanding of the 1099s your business is likely responsible for. In our small business, we have a strict policy to not pay ANY service vendor without first collecting a W9 (assuming they fit the requirements). It is much easier to grab that form when people want to get paid.

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