Husney CPA

If you’ve made payments to independent contractors, freelancers, or vendors totaling $600 or more in 2024, it’s essential to understand your 1099 filing requirements 📄. The IRS requires businesses to issue Form 1099-NEC to report non-employee compensation 💼. This form must be sent to both the recipient and the IRS by January 31, 2025 🗓️. Timely filing is critical to avoid late fees or penalties 🚫💸. In addition to the 1099-NEC, you may also need to file other types of 1099 forms, including: 1099-MISC: For rents, royalties, or other miscellaneous income 🏢💰. Filing deadlines: February 28, 2025 (paper) or March 31, 2025 (electronic). 1099-INT: For interest payments 💵. To streamline the process, here are a few steps to take: Collect accurate W-9 forms 📝: Ensure you have the taxpayer identification numbers and legal names of all payees before year-end. Double-check your records ✅: Confirm payment amounts and classify them correctly to avoid discrepancies. Being proactive not only ensures compliance but also prevents unnecessary headaches when tax season arrives 🤯. Remember, accurate and timely filing helps keep your business in good standing with the IRS! 🎯 📝 Need help with your 1099 filings? Visit 👉 husneycpa.com #TaxSeason #1099Deadline #SmallBusinessTips #TaxFiling #IRS #AccountingTips #FinancialPlanning #HusneyCPA

🚨 Mark Your Calendars: January 2025 Tax Deadlines! 🚨 The new year is here, and so are important tax deadlines. Don't let them sneak up on you—here are the key dates to remember this month: 📌 January 15, 2025: 🔹 4th Quarter Estimated Tax Payments are due for individuals, corporations, and trusts. 📌 January 31, 2025: 🔹 Employers must file Form W-2 with the Social Security Administration. 🔹 1099 Forms for contractors and other non-employee payments must be distributed. 🔹 Employers must file Form 941 for the 4th quarter and deposit any unpaid taxes. Stay on top of these deadlines to avoid penalties and unnecessary stress. Tax season doesn’t have to be overwhelming—reach out to us if you need help staying compliant! 💼 Visit 👉 husneycpa.com #TaxDeadlines #TaxPlanning #January2025 #TaxTips #HusneyCPA