Are you afraid to call me for help with preparing your personal income tax returns because you are afraid of sticker shock? Or maybe you think I don’t want to deal with non-business tax returns? Well, let’s clear some of that up.
Do you hire independent contractors for your business? If so, hopefully you’ve already reviewed the employee vs. independent contractor rules with your CPA. Having concluded that these individuals can in fact be paid as contractors, the next step is to collect the necessary taxpayer information so that you can issue them a 1099 at the end of the year.