Tag Archives: 1098-Ma

Guide For Choosing The Right Company For Online E-Filing

Guide For Choosing The Right Company For Online E-Filing

When it comes to online e-filing, not all options are the same. Choosing the right company to handle your online tax forms is a big decision. You want to ensure that everything is handled in a timely manner and that your forms are all filed properly with the IRS. In order to choose the right tax filing website, you will need to spend some time doing research and understanding what specifically you are looking for help with.

As you go about the process of finding the right company for online e-filing, we invite you to check out the following guide to choosing the ideal service for your needs.

Consider How Many Forms You Need to File

Not all businesses have the same needs when it comes to online tax forms. Perhaps you only need to file a handful of 1099s or maybe you are looking to file hundreds at a time. Not all online filing systems can handle large orders and some are specifically designed for massive corporations.

Ideally, it is wise to find a company that can handle any amount of tax forms, no matter how large or small. This will allow you to continue to utilize the same platform for years to come, even as your business grows. Sticking with one platform will allow you to spend less time in coming years searching for records and documentation.

Make Sure They Handle The Entire Process

Some companies will simply sell you packets of 1099s to download and fill out on your own. Others will allow you to prepare them online, but they can’t handle the actual filing process. Make sure you opt for a company that will cover the process from start to finish. For example, you should be able to fill out the forms online, e-file them with the IRS, as well as have copies sent out to the respective parties.

Choosing a company that handles every step of the process is convenient and time saving, as well as more cost effective than piecemealing it out. Look for a simple, one-stop platform.

Look For Affordable Pricing

Filing hundreds of 1099s can start to add up. Make sure that you look for a company that offers you affordable pricing options if you have numerous forms to file. The less money you can spend on this process the better for your business. Avoid platforms that are designed for massive corporations with higher costs. Many of these platforms have more bells and whistles than you actually need. Don’t waste your money on the unnecessary, instead, look for an affordable platform that meets your basic needs.

Find A Company Backed With Customer Support

Does the company you are considering offer any customer support? While ideally, everything will go smoothly and filing will be an error-free process, it is nice to know there is someone you can reach out to for help in case of an issue. Look for a tax filing service that is backed by customer support. Having support when you need it could mean the difference between missing an important deadline or getting your forms in on time.

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Be Sure They Are IRS Approved

Finally, make sure you opt for a company that is backed by the approval of the IRS. This will ensure that your forms are actually received by the IRS in a timely manner. An IRS approved e-file provider can quickly submit your forms, allowing you to rest easy with a greater peace of mind.

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Here at OnlineFileTaxes.com, we provide a simple, easy-to-use platform for online e-filing. If you are interested in finding a faster, more effective way to file 1099s, we invite you to sign up for free today. Whether you are filing a couple 1099s or hundreds, our affordable pricing and simple steps will make the entire process less stressful. Reach out today to learn more or visit our Frequently Asked Questions page for more information about our services.

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5 Reasons You Should Use Online E-Filing For 1099s For Freelancers

5 Reasons You Should Use Online E-Filing For 1099s For Freelancers

If you are a business owner and you utilize freelancers at any point, you will need to file 1099s before tax season to properly document the payments you have made. A freelancer will then use this 1099 as they go about paying their own taxes. Unlike a regular employee, a freelancer is responsible for paying all the applicable taxes on their income, leaving you without the burden of this cost. While you may benefit greatly from utilizing freelancers, especially during the initial stages of building your business, it is critical that you properly file all necessary 1099s in a timely manner.

The good news is that while this task was once a cumbersome, laborious matter that could only be handled manually through pen and paper, it is now something that can be simplified and streamlined through online e-filing. If you are interesting in utilizing our online platform for filing 1099s for freelancers you employed over the past year, check out the following five reasons why this switch will benefit your company.

#1: Less Paperwork Means Less Risk

When it comes to filing every single tax form necessary, the process can quickly become a chaotic and convoluted mess. The fewer stacks of paperwork you have piling up on your desk the better. By converting over to online e-filing, you can cut down on the risks involved during tax season. It is easy to misplace paperwork, forget to file 1099s, or completely skip steps, such as mailing the 1099 to the freelancer in question when you handle everything the old-fashioned way.

When you e-file 1099s, the process is simple and the risks are mitigated. You fill out the information through a secure online platform. The 1099 is automatically filed with the IRS for you and a copy is sent to the appropriate recipient. Meanwhile, you have access to all the records online and you save yourself from drowning in yet another sea of paperwork.

#2: A Faster Process Equals Money Saved

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When it comes to operating a small business, your time is invaluable. The more time you spend sifting through documents and filling out lengthy forms, the less time you have to invest in other valuable assets of your business. In this sense, your time truly is money. When you opt for a faster process in any part of your business, you reap the reward across the business as a whole.

Online e-filing saves you a large amount of time, which means you are saving money by utilizing technology to your advantage. Instead of hours wasted purchasing forms, filling them out, manually mailing them, and manually filing them with the IRS, you can quickly and effectively complete all these steps at once. With this faster process, you free up time that can be utilized for other valuable tasks. The only question that remains— what will you do with all this extra time?

#3: Immediate Filing Prevents Forgetfulness

Do you have a tendency to procrastinate tasks? Many of us struggle to handle things in a timely fashion, which can often lead to forgetting about a task entirely. When it comes to filing 1099s and ensuring they are in the hands of freelancers and contractors by the appropriate deadline, forgetfulness can be a disaster. When you utilize online technology to e-file, everything happens right away. You don’t have to worry about a stack of forgotten papers on your desk that you remember in a panic at 1am while you lie awake in bed.

Through OnlineFileTaxes.com, you can access the forms you need. Fill everything out simply and quickly. Then, once you check out, your forms will be e-filed with the IRS. The appropriate copies will be sent to the right recipients for you as well and everything is accessible for you through your online portal. Because of how simple this process is, you don’t have to panic about forgetting an important step. It is all handled for you in the blink of an eye.

#4: An Online Platform Eliminates The Need For Expensive Software

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Let’s face it. There are countless softwares on the market that help with taxes and filing. However, many of these softwares are cumbersome, costly, and extremely difficult to navigate. This can make the process more time-consuming rather than simpler. When you just want to file 1099s for freelancers you utilized, less is actually more. Choosing an online tool, such as OnlineFileTaxes.com, means that you can quickly and efficiently accomplish the task you need to without jumping through a thousand other hoops.

This can also cut out the need for administrative and IT costs associated with 1099 processing. You can handle the task on your own, in a quick fashion, ensuring your freelancers receive their forms on time and you submit your 1099s to the IRS before the January deadline. The best part? It is extremely affordable to file 1099s through our online platform. As an approved e-file provider with the IRS, we take pride in how simple and quick we have made this once cumbersome process.

#5: Happy Freelancers For Future Work

Finally, when you handle filing 1099s for freelancers in a timely and effective manner, you will have happier freelancers. The freelancers who do work for you need to be able to handle their own taxes in a timely manner and by having the 1099s they need in hand, they can finalize their filing as well. This leaves a positive impression on the freelancers you use and builds a professional relationship. If you plan to rehire freelancers in the future for more work, ensuring you provide them with necessary documentation in a professional method will go a long way in incentivizing them to work for you again.

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Are you interested in online e-filing for 1099s for freelancers? We can help. Utilize our simple online platform and you can file all the 1099s you need to in one easy place. Whether you are filing a few 1099s or hundreds, our platform will make the entire process simple, smooth, and affordable. Reach out today with any further questions about how online e-filing works.

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Requirements And Information On The Various 1099 Forms, And When To Use Which One

Almost all businesses will only have to worry about the most common 1099, the 1099-MISC. This form will be used for the most part to pay for labor and services by small businesses, independent contractors, doctors or health clinics.

Corporations are for the most part exempt from this, except for legal and medical corporations. You also must file a 1099 form for any monies paid to an attorney or crew members of a fishing vessel.

Payouts of substitute dividends, royalties or tax-exempt interest will also demand a 1099, as well as the sale of products for resale worth $5000 or more to a retailer who does not have a permanent establishment.

The forms must be filed by February 28th in 2013. This date usually falls in the last week of February if you are filing by paper, and 30 days later if filing electronically. The electronic filing date for 2013 falls on April 1, 2013.

You will need the Social Security Number or the TIN of the business with whom you are filling to form out to. Many small business owners use their SSN, so don’t be surprised if that happens. The TIN is a federal Tax Identification Number.

The 1099 form is the way the government is trying to track income which had been very hard to trace previously, and while there is some extra paperwork, the reporting data is not that hard to adhere to. Online File Taxes can help you with every aspect of your 1099 situation, and help you to make sure that you file the correct 1099 and that their reporting is accurate.

Some of the other 1099 forms are below:

• 1099-INT

• 1099-R

• 1099-B

• 1099-DIV

• 1099-C

• 1099-S

The letter designation behind the 1099 usually gives a clue as to what the form is for. 1099-INT, for instance, is issued by banks and other financial institutions to show how much interest income you’ve had – for instance, from a CD.

If you are forgiving, or canceling a loan, you will issue a 1099-C whether or not the person who had the loan can count that as income. The 1099-S deals with the sale of real estate, while a 1099-DIV deals with dividend income.

Also, as you draw money out of a retirement or pension plan, a 1099-R will be issued so that the taxes can be paid on the money drawn out.

The 1099 form, if used properly can be a good thing to your taxes – it is a much more reliable form of record keeping for expensing purposes. The penalties can be stiff, but if you are keeping decent records the 1099 reporting requirements will not add a huge amount of effort to your tax routine.

Online File Taxes can make sure that all your 1099 requirements are being met, and can do it in paper or e-filing form. Remember, if you have over 250 1099 forms, you must file them electronically.

Go to our website now to see how we can help you with the new 1099 requirements, and any tax service you may need!

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