If you pay independent contractors $600 or more annually, you must report those payments to the IRS on Form 1099-NEC. The process is fairly simple if you only need to send one or two, but it gets more ...

Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...

If part of running your business involves receiving or making payments of more than $600 for the use or occupation of property that you own, then you are going to need to report that 1099 rental ...

If you run a small business and work with independent contractors, the different tax forms you’re responsible for processing with nonemployee hires might feel like alphabet soup. Two of the most ...

Whether you're a business owner who relies on independent contractors or you make your living as a freelancer, understanding the difference between Form 1099-MISC and 1099-NEC is critical to ensuring ...

With the passage of the U.S. infrastructure bill in November, “crypto brokers” (i.e., cryptocurrency exchanges and other third parties that facilitate the transfer of digital assets) will be required ...