Avoid a RISKY Move Employers! 1099 Independent Contractors Pay More Tax vs. Employees. IRS Penalties

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JJ THE CPA

JJ THE CPA

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There is NO SUCH THING as a "1099 Employee!" Get it wrong and the IRS will show NO MERCY with penalties and interest.
HOW TO PREPARE FORM 1099's
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Form 1099 SHORT Video • Need to Send 1099s? Wh... or
VERY DETAILED Form 1099 Video • How to File Form 1099-...
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IRS DETERMINATION OF WORKER STATUS FORM SS-8
www.irs.gov/fo...
Generally, you must withhold and deposit income taxes, social security taxes and Medicare taxes from the wages paid to an employee. Additionally, you must also pay the matching employer portion of social security and Medicare taxes as well as pay unemployment tax on wages paid to an employee. Generally, you do not have to withhold or pay any taxes on payments to independent contractors. Business owners who pay at least $600 to individuals (not employees) or for services, need to start considering IRS' requirement to send the recipient a Form 1099-NEC (or Form 1099-Misc).
Related subjects covered: Due Dates for Form 1099-NEC, Form 1099-Misc, Form 1099 Instructions, 1099 NEC, 1099 Misc, Form 1099-K, Form 1099 NEC vs Misc, Form 1099-NEC Instructions, Form 1099-Misc Instructions, How to File Form 1099, Form 1096, Form W-9, 1099 Filing Requirements, 1099 Requirements, 1099 Deadline and Related.
IRS FORM 1099-NEC & RELATED
www.irs.gov/fo...
IRS FORM 1099-MISC & RELATED
www.irs.gov/fo...
IRS INSTRUCTIONS TO FORM 1099-NEC AND FORM 1099-MISC
www.irs.gov/in...
IRS FORM 1096
www.irs.gov/pu...
IRS INSTRUCTIONS FORM 1096
www.irs.gov/pu...
FORM W-9 TO GET INFO FROM RECIPIENT TO SEND FORM 1099 TO
www.irs.gov/fo...
IRS DIFFERENCE BETWEEN FORMS W-2, 1099-NEC & 1099-MISC.
www.irs.gov/fa...
ORDER FORMS FROM IRS
www.irs.gov/fo...
E-FILE FORMS 1099 DIRECT WITH IRS
www.irs.gov/fi...
JJ the CPA Covers: JJ the CPA covers: Taxes, tax issues, self employed tax planning, tax planning, self-employment, ERTC, ERC, Employee Retention Credit, Form 1040, Form 1120S, Form 1120, Form 1065, Form 941, Form 940, Form W-2, Form W-3, Form 1120-S, Form W2, Form W3, Itemized deductions, Schedule A, Schedule B, Interest Income, Schedule C, Self Employment Income, Sole Proprietor, Single Member LLC, Limited Liability Company, LLC tax issues, S corporation taxes, Partnership tax issues, Corporate tax issues, Schedule E, Real estate tax planning, Real estate depreciation, Depreciation, Employment tax issues, Employee taxes, Employment withholdings, Form W4, Cares Act, American Rescue Act, ACA, Appropriations Consolidation Act, FFCRA, employee retention credit, EIDL, Dependent care tax credits, American Opportunity Tax Credit, Lifetime Learning Credit, Self-employment tax, net investment tax, Form 7203, partnership capital, partnership basis, partners, share of liabilities, ERTC, ERC Tax Credit, ERTC Tax Credit, ERC 2021, ERC 2020 Tax Credit, Employee Retention Tax Credit, Payroll Tax Credits, EIDL and the PPP Loan Forgiveness. Taxes, tax issues, self employed tax planning, tax planning, self-employment, ERTC, ERC, Employee Retention Credit, EIDL, Economic Injury Disaster Loan, EIDL Grant, Self Employment Income, Sole Proprietor, Single Member LLC, Limited Liability Company, LLC tax issues, S corporation taxes
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