This is useful but does not answer the question how do I pay them. Do I give them an invoice? What is the paperwork for the payment? How do I get generate it?
1. Do you have to have a license to qualify as a 1099? 2. Do employers have to have workman's comp for 1099 independent contractors? 3. Is 1099 considered employee or independent contractor? 4. How to Hire a 1099 independent contractor ? Documents needed and a list of process? 5. Can the 1099 IC work in the same building as the employer ? (California Laws) (Trade: Warehouse work and Manufacturing)
Can you cover how to file taxes or what type of business to register for when you are an independent contractor that receives multiple 1099s at the end of the year? Thank you so much!
I think you're wrong about the behavior and control aspects impacting your classification as employee or contractor. In the IT space, you can't tell the difference between the contractors and the employees unless they told you. They enforce the same control over our work. We work side-by-side with employees doing the exact same thing. They absolutely have a say in HOW we do it (processes, tooling, timing, training - the works). If what you said is correct, the entire technology industry in the United States is out of compliance. I've been doing this for over 20 years and in many states and that's how it works - almost everywhere.
Sorry for the late reply, hope you get this. If you haven't answered your question yourself already. They key is probably the difference between a "contractor" or in other words a contracting agency, and a true "individual contractor". Also key here is the 1099 tax form detail. The above video is specifically for independent contractors who file a 1099, as detailed below A true independent contractor as defined by law is required to have their own business license and as the Independent contractor THEY set up the contract with the client, and manage the contract themselves. They are responsible for all business taxes and insurance. They are required to file a 1099 tax form every year. No benefits are given to them from the client or any other agency or firm. Their only benefit is they work for themselves (which has a ton of benefits on it's own). In most cases the "contractors" you are referring to are actually employees from a contracting FIRM, which pays them a wage based on their contract with the company(client) that they send you to. If you ask those contractors, they will often get medical and dental from their contracting agency, in addition to other benefits. These "contractors" do NOT file a 1099. They have a w4 form set up with the agency, receive w2's at the end of the year, and are required to fill out the normal tax forms (1040, etc) at the end of the year. They are not employees of the client, but of the agency or firm that sent them to the client.
Question, I live in Pa, not sure if state-by-state is different, I am being told by my mechanic who is also a carrier, that you can't pay a driver 1099 if his income is 80% from the carrier, wondering if that is true.
I just got my real estate license and I was wondering if I can get tax deductions/write offs on a mustang gt if I put my contact info on my rear view window and use it to “view properties” ? Haha
Yes! Car write offs are gold for agents. We have a video coming out on Thursday at 4:30 that will give you some insight on this. The beginning of the video goes over the write offs for using a car for business purposes like "viewing properties" 😄
If I’ve paid an independent contractor/freelancer via PayPal (more than $600), will I still have to collect a W9 from them and fill out and send them a 1099? Thank you for your assistance!
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Watch This Next: 101 Tax Write Offs & Deductions For Entrepreneurs - ruclips.net/video/xrxRW5wGRJA/видео.html
This is useful but does not answer the question how do I pay them. Do I give them an invoice? What is the paperwork for the payment? How do I get generate it?
Nice job and very useful. I really appreciate that you got straight to the point without a bunch of useless jibber jabber.
You explain things so well! Thank you!!
This is amazing info. Thanks a lot!!!!
You’re welcome. Thanks for watching!
VIDEO WAS AMAZING, THANK YOU!!!
Bro you’re the greatest
Omg, this was extremely helpful 💰
This information is gold.. however I could use more information 🙂🙌🏾
Thanks! Happy to help further...what other information do you need?
Did you see the example 1099 completely filled out in the video?
Nope. It's right in this video. See the 6:50 mark 😉
shout out to u for this video thanks man
If you work with the contractor over and over.do you need a 1099 for each project? Or just one for the whole year?
1. Do you have to have a license to qualify as a 1099?
2. Do employers have to have workman's comp for 1099 independent contractors?
3. Is 1099 considered employee or independent contractor?
4. How to Hire a 1099 independent contractor ? Documents needed and a list of process?
5. Can the 1099 IC work in the same building as the employer ?
(California Laws)
(Trade: Warehouse work and Manufacturing)
Thank you so much for this info!
My pleasure! 😄
Can we consider a nurse is a 10-99 employee who works as per diem for a nursing agency? Thank you for sharing!
Can you cover how to file taxes or what type of business to register for when you are an independent contractor that receives multiple 1099s at the end of the year? Thank you so much!
Hey Doula, check out this playlist: ruclips.net/p/PLfYAvlh4-VVSVn2DTEHAlbhCucZJQPwIM
@@LYFEAccounting thank you!
Thank you for the explanation in this topic. Is the process the same when you use contractors from Fiverr or upwork?
I think you're wrong about the behavior and control aspects impacting your classification as employee or contractor. In the IT space, you can't tell the difference between the contractors and the employees unless they told you. They enforce the same control over our work. We work side-by-side with employees doing the exact same thing. They absolutely have a say in HOW we do it (processes, tooling, timing, training - the works). If what you said is correct, the entire technology industry in the United States is out of compliance. I've been doing this for over 20 years and in many states and that's how it works - almost everywhere.
Sorry for the late reply, hope you get this. If you haven't answered your question yourself already. They key is probably the difference between a "contractor" or in other words a contracting agency, and a true "individual contractor". Also key here is the 1099 tax form detail. The above video is specifically for independent contractors who file a 1099, as detailed below
A true independent contractor as defined by law is required to have their own business license and as the Independent contractor THEY set up the contract with the client, and manage the contract themselves. They are responsible for all business taxes and insurance. They are required to file a 1099 tax form every year. No benefits are given to them from the client or any other agency or firm. Their only benefit is they work for themselves (which has a ton of benefits on it's own).
In most cases the "contractors" you are referring to are actually employees from a contracting FIRM, which pays them a wage based on their contract with the company(client) that they send you to. If you ask those contractors, they will often get medical and dental from their contracting agency, in addition to other benefits. These "contractors" do NOT file a 1099. They have a w4 form set up with the agency, receive w2's at the end of the year, and are required to fill out the normal tax forms (1040, etc) at the end of the year. They are not employees of the client, but of the agency or firm that sent them to the client.
Where do I get this 1099 NEC? Can this be done electronically?
If I pay my employees through cash app can I claim that cash as I taxe’s?
Question, I live in Pa, not sure if state-by-state is different, I am being told by my mechanic who is also a carrier, that you can't pay a driver 1099 if his income is 80% from the carrier, wondering if that is true.
Great video! Thank you for the information. Is there an IC template "contract" that you would suggest?
Thanks. Law depot or Rocket Lawyer is a good place to start. Always edit for your specific needs.
Great video. What if the independent contractor is an international remote worker?
Can you do a video on staffing Virtual Assistants overseas?
Please!
Thanks for this video
Anytime. Thanks for watching!
Great job informative. Tu
That's why we're here!
I fw yall
5:58 praise Him
🙌🏾
If I start independent contractor work under my name can I have the pay deposited into my business checking account of my LLC that’s not being used?
I just got my real estate license and I was wondering if I can get tax deductions/write offs on a mustang gt if I put my contact info on my rear view window and use it to “view properties” ? Haha
Yes! Car write offs are gold for agents. We have a video coming out on Thursday at 4:30 that will give you some insight on this. The beginning of the video goes over the write offs for using a car for business purposes like "viewing properties" 😄
LYFE Accounting appreciate it🙏 I’ll make sure to tune in
If I’ve paid an independent contractor/freelancer via PayPal (more than $600), will I still have to collect a W9 from them and fill out and send them a 1099? Thank you for your assistance!
❤❤❤❤❤
😮
Don't worry, the IRS is going to start issuing these docs on your behalf with the $600 initiative
666 - It's just a number, right? Lucky me, I hope I become a BEAST!!!