1099 NEC Vs MISC Form For Virginia SMBs | Expert Tax Preparation For Independent Contractors

They say two things in life are inevitable: death and taxes.
But at least death only comes for you once.
Taxes, on the other hand, well… those are a life sentence!
But, it’s not all doom & gloom. As unbelievable as it sounds, there are people who actually like this stuff – that’s why they call themselves the NumberSquad!
If you own a small business in Virginia, these guys can help you with all the various IRS forms you need to file. Yes, that includes 1099-NEC contractor forms.
As of 2020, businesses are required by the IRS to complete the 1099-NEC form for non-employee compensation which amounts to at least $600 per tax year.
This can include payments made to contractors, vendors, and freelancers – but there are some exceptions, which can make the filing process complex.
But with NumberSquad, you can ensure that all your payments are accurately reported and 1099-NEC forms are filed on time.
The firm will review all relevant bank accounts, checks, EFT, and direct deposit payments, collect taxpayer ID numbers, and file the forms with the IRS.
Go to numbersquad.com to check them out!