I'm the payor and many of our contractors have EIN #s. There doesn't appear to be a a designated spot for the name of the business only a box for the first and last name. WHERE ON THE FORM DO I ENTER THE BUSINESS NAME? I have NOT found even ONE video to answer this quesdtion...
Hector, I understandend all t payment of contract, including check, cash and venmo, zelle must filling in 1099 correct? Except payment with credit card no must in 1099 nec,
Thank you for this great information. I received a 1099nec for been a child care provider. But, I’m confused because there was no taxes taken, and I don’t want have to pay taxes because I have a full time. I’m single with no depends, I did purchase things during the 6 months of been a child care provider. You think there is a way to report these expenses as I file my taxes? Sorry, I hope I make sense. Thank you.
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I'm the payor and many of our contractors have EIN #s. There doesn't appear to be a a designated spot for the name of the business only a box for the first and last name. WHERE ON THE FORM DO I ENTER THE BUSINESS NAME? I have NOT found even ONE video to answer this quesdtion...
Hi Hector what if we submitted a 1099NEC to S or C Coprs
Its ok
Hector, I understandend all t payment of contract, including check, cash and venmo, zelle must filling in 1099 correct? Except payment with credit card no must in 1099 nec,
All but credit card payments, correct
So I would file a 1099 nec under business income? Or 1099r or 1099b
So I report it as 1099 NEC Business C even tho I’m not my business but I did work for that business?
Rephrase your question please
Thank you for this great information. I received a 1099nec for been a child care provider. But, I’m confused because there was no taxes taken, and I don’t want have to pay taxes because I have a full time. I’m single with no depends, I did purchase things during the 6 months of been a child care provider. You think there is a way to report these expenses as I file my taxes? Sorry, I hope I make sense. Thank you.
You have to pay taxes on your profits (income - expenses)
Other questions, what is punishment if company don't send until 01/31/2022? 1099 nec😓
Potential penalty for late filing, $250 per form
QB will not allow a blank TIN field, however the IRS says leave blank and submit anyway. QB support just hung up on me.
Qb wont support blank tin
@@HectorGarciaCPA Thank you for your help. I wish QB would have said that instead of leaving me on hold then hanging up.
@@agtowing9823 the joys of calling a multibillion dollar company for help :)
Great. Thanks
Hi Hector. Thanks for the video. Can you also talk about amending 1099-NEC? thanks
Thanks sir, one of my question is why would legal & professional service provider not getting 1099 NEC from their client?
Lawyers do get a 1099
Hey hector on the 1099 nec paying the contractors. Are we reporting the gross or net that we paid the contractors?