Another tax season is quickly approaching

As a business owner, in addition to keeping accurate bookkeeping records and filing federal and state income tax returns, you are responsible for 1099 preparation and reporting to the IRS. Plus, you’re responsible for sending these crucial documents to your subcontractors.

If you’re unsure who should receive a 1099, download a copy of “Who should receive a 1099-NEC?”

If you would like for Precise Books and Tax Solutions, LLC to prepare your 1099s, book a complimentary consultation to review the process.

Due to the short timeframe to prepare and submit 1099s prior to the deadline and avoid penalties, appointments are on a first-come, first-serve basis.

What Do You Need?

Signed W9 for independent contractors

A record of payments made to contractors

A record of income taxes withheld, and FICA payments withheld if any