It’s 1099 filing season again! All forms need to be filed with the IRS and delivered to your contractors by the last day of January. (Postmarked by 1/31, at the very least.)
A lot of business owners still think that they need to buy stock forms, print, and mail. However, the very easiest way to fulfill your 1099 filing requirement is by using an online filing service. All you do is type in your company information, enter the vendor’s name and tax ID, and fill in the appropriate box with the correct amount. The website will then file the form with the IRS electronically, and often also has a secure email delivery option for your vendor, or maybe even a mail service. Either way, you were going to have to type up the forms manually – why not input it directly into a service that also files it for you?
I wanted to provide a few details about the contracts we sign with our clients, and the reasons behind the way we set up our relationships.