Form 1099 is used to report non-employee compensation paid to independent contractors, freelancers, and service providers. Federal regulations require businesses to issue Form 1099-NEC to qualifying ...

An employer is required to withhold income, Social Security and Medicare tax from their employee’s pay. They also pay half of ...

An independent contractor is someone who works for a business or company but is not an employee. The IRS uses three categories of evidence to determine if someone is an independent contractor or ...

Unlike a full-time employee whose taxes are deducted from their paycheck, if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 tax deductions as you ...

Independent contractors are professionals hired by individuals (or companies) to perform a service. Each one has different classifications under the IRS, which also means different tax obligations.

Independent contractors have more tax leg work to do than salaried workers who receive pay from just one source. It is paramount you keep accurate records of your pay and expenses so you don’t run ...