Can You File Taxes Without Your 1099-NEC? Missing 1099-NEC? If you are a freelancer, contractor, or self-employed worker, you may have received a form called 1099-NEC from your clients or payers. This form reports the non-employee compensation that you earned during the year. You need this information to report your income and pay taxes on […]
Correcting 1099s Forms: A Step-by-Step Guide to Fixing IRS Submissions Uh oh! Filed Incorrect 1099s? Here’s How to correct 1099s FAST. If you are a business owner or a self-employed individual, you may have to file 1099 forms to report certain payments you made to others during the tax year. However, mistakes can happen, and […]
Form 1099-NEC: Your Comprehensive Guide to Reporting Non-Employee Compensation Introduction Understanding tax forms is crucial for both businesses and individuals. One such important form is the Form 1099-NEC, used for reporting non-employee compensation. This guide will help you understand what it is, who needs to file it, and how to do so correctly. What is […]
What’s a 1099-K and what is the income threshold? The 1099-K form reports income received through third-party digital payment methods like: If you received a 1099-K for your digital payments, you would need to report this income on your tax return. You do not have to report nonbusiness income like exchanges between friends or family, […]
Although you don’t need to know much about tax forms with TurboTax on your side, it’s always best to organize your forms that when you sit down to do your taxes. Many people are familiar with W-2s, but they may not be aware that other financial documents… Full Story [WooZoneProducts asin=”1589797981″][/WooZoneProducts]