014. Are YOU Required To Send Out Any 1099s? The What, When, and How of 1099 Tax Documents

You might already be familiar with the 1099s you RECEIVE as a business, but did you know that you ALSO have a requirement to SEND any 1099 documents to individuals and businesses that meet certain criteria? It’s not just a responsibility of large corporations - ANY small business may also need to send out 1099s at the end of the year. Today’s episode is going to walk through the 4 requirements to review to determine if any of your vendors need to be sent a 1099, when these 1099s need to be sent by, and how to actually file them.   Ready to take your learning a step further? Register for my Free Masterclass, Make Your Money Make Sense! Where you’ll learn how to understand where your money is going, avoid costly bookkeeping mistakes, and set up an easy to follow bookkeeping system. Sign up now: www.findingfreedomfinancial.com/masterclass (http://www.findingfreedomfinancial.co...)   Other Ways to Work With Me: • Need to get your bookkeeping caught up or cleaned up? Sometimes you just need a clean starting point so you can take it over yourself. Apply to work with us at www.findingfreedomfinancial.com/contact (http://www.findingfreedomfinancial.co...) and we'll get your books up to date and ready to hand off. • Need some support as you do you own bookkeeping? Then I wanna invite you to join me inside of the Bookkeeping Made Simple for Boutiques Membership, where you can get trainings & support to help you feel confident as you manage the money-stuff yourself. Using Quickbooks Online, I walk you through through the exact setup & process you need to implement everything for accurate and EASY bookkeeping all year long - no more tax time scramble! Join us at www.findingfreedomfinancial.com/membership (http://www.findingfreedomfinancial.co...) • Are you a Shopify seller who’s not quite ready to invest in a bookkeeping software like Quickbooks? Don’t worry - I got you! I’ve created a custom Shopify Seller Income & Expense Tracker that you can use to easily enter each transaction coming in and out of your business, along with your sales data coming directly from Shopify to put together a standard P&L (Income Statement) that you can hand over to your tax preparer. Download your copy at www.findingfreedomfinancial.com/spreadsheet (http://www.findingfreedomfinancial.co...)   Prefer to learn while you read? Check out the blog post for this episode: https://www.findingfreedomfinancial.c...   Related Episodes & Resources Mentioned: • How to order paper copies of blank 1099 forms: https://www.irs.gov/pub/irs-news/at-0... • Software options you can use to electronically file & send your 1099s: Quickbooks Online (https://findingfreedomfinancial.com/qbo) or Tax1099 (https://www.tax1099.com/tax-1099-efil...) • Get your bookkeeping all caught up with Bookkeeping Made Simple for Boutiques to easily identify which vendors you need to send 1099s: www.findingfreedomfinancial.com/membership (http://www.findingfreedomfinancial.co...)