1099’S – DON’T MISS THE DEADLINE!

Who should you give them to?

If you use independent contractors to perform services for your business and you pay them $600 or more for the year

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We are a CPA firm dedicated to transforming the lives of business owners and increasing their value in the eyes of their customers.

What forms do I need?

Form 1099-MISC after the end of the year to avoid facing the loss of the deduction for their labor and expenses.

The 1099s for 2014 must be provided to the independent contractor no later than February 2, 2015.

We are a CPA firm dedicated to transforming the lives of business owners and increasing their value in the eyes of their customers.

How do you collect the information needed?

IRS Form W-9 is provided by the government as a means for you to obtain the data required to file the 1099s for your vendors. This data includes the vendor’s name, address, type of business entity and TIN (usually a Social Security number or an Employer Identification Number), plus certifications as to the ID number and citizenship status, among others.

We are a CPA firm dedicated to transforming the lives of business owners and increasing their value in the eyes of their customers.

Last tips!!!

DO NOT SUBMIT The W-9 to the IRS.

GET A CURRENT FORM The W-9 was last revised by the IRS in December 2014

AVOID PENALTIES SENT TO IRS by March 2, 2015, along with transmittal Form 1096.

If you have any questions please give us a call at 572-1248 or email us at info@gmlcpa.com

We are a CPA firm dedicated to transforming the lives of business owners and increasing their value in the eyes of their customers.