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, ...

The nature of your LLC can influence which tax forms you need and what you ultimately owe. Many, or all, of the products featured on this page are from our advertising partners who compensate us when ...

Here's what you need to know about Form 1040: the mother of all tax forms. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

Once you’ve clicked “file” or dropped your tax return in the mail, use this form to provide the IRS with updated information Written By Written by Contributor, Buy Side E. Napoletano is a contributor ...