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Common 1099 mistakes we see with our SME clients: · Not realizing that contractors who are paid $600 must be issued with a 1099-NEC form. · Not understanding how the $600
Common 1099 mistakes we see with our SME clients: · Not realizing that contractors who are paid $600 must be issued with a 1099-NEC form. · Not understanding how the $600 threshold works with multiple payments. · Not issuing the forms by 31st January – late filing penalties apply! · Not understanding the correct use of the 1099-MISC and ...
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