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1099 Filing Requirements

If you paid an individual or an unincorporated business $600 or more during the tax year for expenses that you plan to write off, either in your business or for a rental or investment property, you are required to collect tax information from the person/business you are paying and file a 1099 with the IRS before January 31st. There are lots of online service providers that can do this for you for a fee. Sometimes you may be able to file them through your payroll provider. If you have just a few 1099's that need to be filed and don't want the hassle, I am willing to prepare and file them for you for $75 each. What I would need from you is the total amount paid for the year, and the full name, address and tax ID number of the individual or business that you paid. You would collect this information by requesting that a form W9 be filled out. It is usually best practice to ask for this information in the beginning, before the work is done and payment is made, but if you need to go back and request the information at year-end, that's okay too.


I can also file W2's for you if you paid your minor children to perform work in your business. This is a great tax savings strategy. If you would like more details about whether this strategy could benefit you, let's book a consultation and get your questions answered. You can scheudle directly here, or reach out to me if you don't see a time that works for you.

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