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As a business owner, how do I file my 1099's for my contractors?
Old 01-21-2007, 05:59 PM   #1
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As a business owner, how do I file my 1099's for my contractors?

the closest I got was free efile thing thru irs.gov, but it always freezes up and i cannot log back in

i have the 1099 printed. i have already e-filed thru hr block, but they didnt give me a chance to send in my 1099's with my return

any advice on what to do, where to send it? i think march is my deadline, but i wanna send it now!
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Re: As a business owner, how do I file my 1099's for my contractors?
Old 01-21-2007, 07:38 PM   #2
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Re: As a business owner, how do I file my 1099's for my contractors?

Check http://www.irs.gov/efile/article/0,,id=98114,00.html for details ... IIRC, you file the 1099's with form 1096 ... not with your 1040 or 1120/1065. Due January 31 (for recipients).
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Re: As a business owner, how do I file my 1099's for my contractors?
Old 01-21-2007, 09:20 PM   #3
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Re: As a business owner, how do I file my 1099's for my contractors?

PERFECT. 1096 IT IS!
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Re: As a business owner, how do I file my 1099's for my contractors?
Old 01-22-2007, 08:34 PM   #4
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Re: As a business owner, how do I file my 1099's for my contractors?

Quote:
Originally Posted by thefed
PERFECT. 1096 IT IS!
1099s are due to recipients by 31 January, although no one checks your timing.

1096s are generally due to the IRS by the end of February unless you're filing in bulk or electronically.

You can order the 1096 forms from the IRS for free, or pay bigger bucks at Office Depot...
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Re: As a business owner, how do I file my 1099's for my contractors?
Old 01-23-2007, 11:58 AM   #5
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Re: As a business owner, how do I file my 1099's for my contractors?

I was going to keep my mouth shut, but. . .

I worry about you Fed. I am concerned that you are so focused on making money and making your business work, that you might be playing a bit fast and loose with the rules. Have you talked to a CPA about your business and whether under both federal and state law your contractors are in fact independant contractors and not really employees? It is an important question that we do not have enough facts here to answer. But if it turns out that you should have been treating them like employees you would have a big tax problem.

You may be just fine, but I felt I should bring the issue up.
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Re: As a business owner, how do I file my 1099's for my contractors?
Old 01-23-2007, 03:13 PM   #6
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Re: As a business owner, how do I file my 1099's for my contractors?

Quote:
Originally Posted by Martha
I was going to keep my mouth shut, but. . .

I worry about you Fed. I am concerned that you are so focused on making money and making your business work, that you might be playing a bit fast and loose with the rules. Have you talked to a CPA about your business and whether under both federal and state law your contractors are in fact independant contractors and not really employees? It is an important question that we do not have enough facts here to answer. But if it turns out that you should have been treating them like employees you would have a big tax problem.

You may be just fine, but I felt I should bring the issue up.
good point. i do indeed have 1 regular employee, i deduct taxes, medicare etc. BUT, i do have a home repair business and i sub out some work. these guys are most def 1099's!!

i know where you were going with your comment tho...thanks for looking out for me!
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