Catherine Belliveau

  As Director of Accounting Services at The Foresight Companies, I’m reminding you that your 1099’s are due on Tuesday, January 31st. It’s January and many business owners are using this month to try and forget that taxes will need to be done soon. But as you immerse yourself in denial, have you forgotten that 1099’s have to be issued? 1099’s are like the neglected middle child of taxes. People have some vague idea that they exist but they aren’t sure what needs to be done for them. Let’s go through the Who, What, When, Where and Why of 1099’s. 1. Who has to file 1099’s? All businesses that pay for services to unincorporated service providers must provide a 1099 to vendors that were paid more than $600 during the year. 2. What are the requirements for 1099’s? There is […]