We’ve been watching the progress of the Patient Protection and Affordable Care Act (AKA the Healthcare Reform Bill), and particularly the part that affects small business – the extreme new 1099 reporting requirements. As of now, businesses only have to issue form 1099 to service providers, most notably contractors, to whom they pay over $600 [...]
morePosted by: Jennifer Escalona, July 29, 2010
Comments: 2
A group of senators has written to IRS Commissioner Douglas Shulman complaining about the new 1099 filing requirements, which were passed into law by – who was that again? Oh, right - those same senators.
morePosted by: Mariette Knoblauch, July 28, 2010
Comments: 1
...Well, they asked for it.
As we've been following closely here at Outright, one provision of the new healthcare reform bill expands the requirements for 1099 reporting. Starting in 2012, businesses and sole proprietors will have to file 1099-Misc forms for everyone they spend $600 or more with, even large corporations like Costco, for purchases of [...]
Posted by: Mariette Knoblauch, July 12, 2010
Comments: 5
Here at Outright, we’re already expressed our concern over the new Healthcare Bill’s tax reporting requirement that small business owners issue 1099’s to any vendor to whom they pay over $600 in the course of the year. This would mean that not only do small business owners have to issue a form 1099 – the [...]
morePosted by: Jennifer Escalona, July 8, 2010
Comments: 9
Helping entrepreneurs control their fate this taxseason, we’re launching RightTaxesNow.com, a dedicated website with tax advice and online petitions to demand legislative support of small business tax-relief. We’re excited to announce that the site accompanies the release of a fully online and automated 1099 e-filing service.
The growing unemployment rate has forced more people than [...]
Posted by: Paul O'Brien, January 21, 2010
Comments: 0
Whether you hire contractors or you are one, tax season starts in January with form 1099-MISC. To ensure the accuracy of the 1099, you need the contractor's accurate taxpayer identification. The way to get it is with the W-9.
Today, Outright.com collects and manages W-9s for you; free
Automated Online: Contractors fill out the W-9 online, all [...]
morePosted by: Paul O'Brien, December 17, 2009
Well, now you can, thanks to a new Outright.com feature. Simply start your FreshBooks expense descriptions with @vendor name: and we'll read it correctly and separate who you paid from the rest of the description.
Let's look at an illustration. Here's a screen shot of the FreshBooks page for adding a new expense. Notice that they [...]
Posted by: Kevin Reeth, May 19, 2009
Many freelancers are using leading marketplace providers like oDesk to help them earn a living. It's a great way to get exposure to tons of work opportunities. Software programmers, web developers, graphic designers, freelance writers, even virtual assistants can find opportunities through oDesk.
And now, Outright.com is making life easier for the more than 220,000 people [...]
morePosted by: Kevin Reeth, April 1, 2009
For those of you who sent 1099s to your 2008 independent contractors, tomorrow is the deadline for filing copies with the IRS by mail. That means those red magnetic 1099MISC forms that you can order from the IRS for free or can buy at most office stores. Plain-paper printed copies don't cut it - the [...]
morePosted by: Kevin Reeth, March 1, 2009
Well, not really. It's just that, because Jan 31st falls on a Saturday this year, the deadline for sending 1099s to your 2008 independent contractors is February 2. Check out the IRS small business tax calendar (which is a smart thing to do in general.)
Also, to assist with this lovely task, Outright has added a [...]
Posted by: Kevin Reeth, January 22, 2009
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