So, you are an independent contractor and it is tax
season. What does that mean to you? What is a 1099 tax form? It is used to report non-salary income to the
IRS for federal tax purposes. There are 20 variants of 1099s, but the most
popular is the 1099-MISC. Let’s explore
this most common form of 1099.
The 1099-MISC is the version of Form 1099 that you use to
tell the IRS whenever you are paid as an independent contractor, or any other
type of self-employed person $600 or more in fees, compensation, real estate
rent, prizes, awards, or any other kind of taxable income. The IRS uses this information to
independently verify your income and your federal income tax levels.
Many people in the Las Vegas Valley may have more than just
this 1099 tax form to fill out properly.
If you were an employee of a firm AND an independent contractor in 2019, it
needs to be done correctly. You can
count on that with the services of Las Vegas CPA and tax preparation expert
Michael Mathews. Give him a call at
(702) 240-5237.
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