Get your 1099 Information Finished Early this Year
It’s never too early to start preparing tax documents
If you are a business owner and paid someone who is not a regular employee during 2016, you may need to have a Form 1099 prepared to report wages paid. A Form 1099 will need to be sent to the following:
- Any independent contractor/vendor who you paid more than $600 to perform a service in the aggregate calendar year (example: janitorial services, lawn maintenance, repair and remodeling services).
- Any attorney you paid, regardless of the amount.
- Any individual/entity from whom rent has been received.
You should have a W-9 on file for each of these vendors, and if not, now is the time to request them.Please click here if you need a W-9 Form. Although Form 1099s are not due until January 31st, collecting this information early will make tax preparation services more seamless. For any questions regarding W-9s or 1099 Forms, please contact your hb&k client accounting services representative.