Knowing When To Submit A 1099 For Your Accountant

Knowing When To Submit A 1099 For Your Accountant

When it comes to filing the right tax forms for your small business, things can quickly become tricky. It is not always easy to know which forms you should file and different classifications of work or services provided will mean different taxations. In the case of contractors and freelancers, filing a 1099 is a must. However, you might need to also file a 1099 for the services provided to you by your accountant.

Here at OnlineFileTaxes.com we make filing 1099s for accountants simple and straightforward. Our goal is to alleviate the hassle of filing 1099 forms by allowing you to file the forms online. This makes the entire process simple, fast, and affordable. If you are trying to determine whether or not you should submit a 1099 for your accountant, read on to learn more about when it is a must.

A Corporation Or A Partnership Or Self-Employed

The first thing you need to determine when trying to decide whether or not to file a 1099 due to services provided by your accountant is how they are classified. If the accountant is part of a corporation, you do not need to file a 1099. However, if the accountant is not part of a corporation, you might need to file a 1099. This includes accountants that are classified as a partnership or are independent contractors.

Not sure which is the case? Make sure you speak to your accountant to ascertain the answer long before tax season strikes. 1099s need to be filed prior to January 31st, so understanding this piece of information will be vital to cover all your bases. Reach out and ask how they are classified and then move forward to the next stipulation.

How Much Did You Spend?

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1099s are only necessary when the dollar amount you spent was over $600. If, for example, you only utilized an accountant’s help for the price of $100, you do not need to worry about submitting a 1099. It is also important to note that you only have to calculate the costs for services, not products.

If you did spend more than $600 on services and your CPA is not incorporated, then you should file a 1099. Because 1099s are dependent upon a myriad of factors, including the amount of money rendered for services, it is vital that your business keeps pristine records of all transactions. This is why storing receipts and keeping data stored in easily accessible ways will go a long way in helping your tax season go smoothly.

Where To File Your 1099s For Accountants

If you have determined that you do need to file a 1099 for your accountant, your next step will be figuring out how to do so. The good news is that you can file this 1099 alongside any other 1099s you have to process. This might include 1099s for contractors, freelancers, or other vendors. By doing this all at once, you can save yourself a large amount of time and hassle.

The best way to go about filing these forms is to utilize an online service, such as the one found at OnlineFileTaxes.com. This will make the entire process much simpler than doing it the old-fashioned way via mail. You can complete the task in easy steps. Simply sign up, fill out as many 1099s as you need to, and submit them to the IRS. E-filing is fast, simple, and doesn’t require you to remember multiple to-dos. Not only will this allow for quick filing with the IRS, but it will also ensure that the proper 1099s are sent out to your accountant and other respective contractors.

The Benefits Of OnlineFileTaxes.com

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If you are ready to start working on the pile of 1099s you know you need to file, we are here to help. We are proud to provide an affordable and easy option for small business owners to utilize to ensure they file everything they need to during the tax season. A few of the benefits you will experience when you utilize our services include the following:

  • Affordable Pricing: Are you overwhelmed by the costs of high-end software or other programs? Then you will benefit from the affordable pricing of our services. We understand that for your business, every penny counts. We want to ensure you don’t waste any money when filing 1099s.
  • Easy System: Not only can software programs become costly fast, many of them are complex and confusing. The same can be said of trying to tackle filing 1099s on your own. With our platform, filing has never been easier. We created a system that anyone can use, without spending hours trying to simply figure the program out.
  • Online Access: Your life is busy and we get that. Our platform is accessible online so that you can tackle filing your 1099s no matter where business takes you. Don’t be trapped at the office any longer than need be. Enjoy the simplicity of an online filing system.
  • Freed Up Time: Let’s face it, you have plenty you would rather be doing than pouring hours of time into lengthy forms. We understand that, which is why we have developed a much faster and more efficient method for filing 1099s. This will allow you to use your free time in a more productive way for your business or to spend time doing the things you love.
  • Accuracy: Do you worry about filling out forms by hand? It is easy to make mistakes or forget to file things when you are surrounded by mounds of paperwork. By utilizing our system, you can improve accuracy and prevent mistakes.

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Ready to get started? We invite you to sign up today and to reach out to our team with any further questions you might have. Be sure you beat the January 31st deadline by getting everything you need in order for filing your 1099s. Whether you are filing a 1099 for your accountant or you are preparing hundreds of 1099s for various contractors, our system will make the process simple, affordable, and fast.

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