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Do not loose Tax write offs !

NEW DEADLINE 1099 and w2s

New 1099 filing Deadline is January 31 this year to both the government and the employees and subcontractor’s

If you own your own business be sure to issue 1099 to all individual subcontractors you paid more than $599.99

Make sure you have collected all their social security numbers, current addresses to issue form 1099 for money you have paid to them.


Be sure to get a signed form w9. You can print form W9 from http://www.irs.gov.  That certifies they are responsible to pay their own taxes. Use subcontractors with extreme care. The IRS is very strict about who you can classify as subcontractors, so when in doubt treat them as employees to avoid issues.

 Please note, if you do not issue 1099 to them you will not be able to deduct the expenses for taxes.
There are different threshold amounts for different type of payments.

 By using QuickBooks  you can track all payments and easily print the 1099 within QuickBooks.
 Http://www.TrainingQuickBooks.com

Check www.irs.gov for more details or contact a Tax expert for more information.
If you are in the Chicago area check us out at HTTP://www.JNKcpa.com