1099 Preparation

Preparing and filing 1099 forms for contractors and vendors. We gather the information, verify the details, and file on time so you stay compliant with IRS requirements.

The Service

If you paid contractors, freelancers, or certain vendors more than $600 during the year, the IRS expects you to report it. That means issuing 1099 forms to the recipients and filing copies with the IRS by the deadline. Miss it and you face penalties.

We handle the entire process. We collect the necessary information from your records and your payees, prepare the forms, and file them correctly. You do not have to figure out which form applies or worry about whether you got the amounts right.

The Gathering

We pull together the payment data from your books and verify that you have W-9s on file for each recipient. If anything is missing, we help you track it down before the deadline creates a problem.

The Filing

We prepare the 1099-NEC or 1099-MISC forms as needed, deliver copies to your contractors, and submit the required filings to the IRS. The base fee covers up to five forms, with additional forms at $10 each.

The Stakes

The IRS treats 1099 compliance seriously. File late and you owe a penalty for each form. File with incorrect information and there is another penalty. Fail to file at all and the fines stack up quickly. A small oversight turns into a real expense.

Most business owners know they need to send 1099s but put it off because the process feels confusing. Which contractors qualify? What counts toward the $600 threshold? Did you collect all the W-9s you need? By January, the questions pile up and the deadline is already close.

Penalty Risk

Late filing penalties range from $60 to $310 per form depending on how late you are. If the IRS decides you intentionally disregarded the requirement, the penalty jumps to $630 per form with no cap. These numbers add up fast.

The W-9 Problem

You cannot file a 1099 without the recipient’s tax ID number. If you forgot to collect a W-9 before paying someone, you are now chasing them down while the clock ticks. Some contractors are slow to respond or hard to reach.

The Result

You hand off the task and get it back done. No scrambling in January. No guessing about which form to use. No worrying about whether you remembered everyone who should get one. The forms go out on time and the IRS gets what they expect.

You also get cleaner records going forward. The process of preparing 1099s often surfaces gaps in your contractor tracking. Once those are fixed, next year is easier. You start the new year with better documentation habits already in place.

Compliance

Your 1099s are filed correctly and on time. Recipients get their copies. The IRS gets theirs. You avoid the penalties that come from late or incorrect filings. The requirement is handled and you can move on.

Better Records

We flag any contractors who are missing W-9s or payment documentation. You fix those gaps now instead of discovering them during a future audit. Your contractor files are organized and ready for next year.

Long Island's Small Business Bookkeeper