Dr. Friday Tax Tips
Dr. Friday Tax Tips
Dr. Friday Tax & Financial Firm
1099’s Are Essential To Small Business Owners
1 minutes Posted Dec 30, 2020 at 1:00 pm.
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Dr. Friday
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial Firm. To get more info go to www.drfriday.com.
Dr. Friday
1099’s are essential to small business owners, we must 1099 anyone that makes over $600, and that includes your landlord. So if you have rent, if you pay interest to somebody, if you pay for services to somebody, the law says we’re supposed to issue 1099 to those individuals if we paid them more than $600. If we don’t, there are fines and penalties that can be assessed. Why not do it so that way we can make sure we deduct the right amounts on our tax returns? If you need help with your taxes, go to drfriday.com and set up a tax appointment today.
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