BUSINESS SERVICES

NEED TO FILE YOUR EMPLOYEES' W2 OR FORM1099 OR FILE AN EIN APPLICATION?
"WE FILE YOUR YEAR-END W2 AND FORM1099 FOR YOU"

W2 AND FORM1099
BUSINESS SOLUTIONS

WHEN ARE YOU REQUIRED TO ISSUE 1099

When you contract an independent contractor and issue payments to a contractor at $600 and above, you are required by the IRS to issue that contractor a 1099.

 

WHAT IS A FORM1099

There are different types of Form1099 for each different circumstance concerning payments paid out. A Form1099 is a series of information returns filled with IRS reporting payments your company has paid out throughout the year. The most common Form1099 are the 1099Misc and 1099Nec.

 

1099Misc is to be used when:

  • You've paid at least$10 in royalties or broker payments

  • Paid at least $600 in

    • Rents

    • Prizes

    • Awards

    • Medical payments

    • Insurance proceeds

    • Cash payments in the purchase of a trade

1099NEC is to be used when:

  • You've made payments to a person or company that is not an employee, considered as Nonemployee Compensation

  • Used to report:

    • $600 or more​

    • For services performed

    • Cash payments for trade

    • Payments to  an attorney

    • Payments to individuals who are not your employee

When is Form1099  not required to be filed

Form1099 is not required if:

  • Did not engage in a trade or business activity

  • Did not engage in a trade or business activity and made payment of less than $600 to a business that is incorporated

Form1099 NEC deadline is January 31 or the next business day if January 31 falls on the weekend

Form1099 deadline

AVOID COSTLY MISTAKES

The e file and preparation of Form1099 is sometimes complicated when you do not exactly know how to file them correctly ensuring your employees' W2 wages or contractors' contract payments are reported accurately to the IRS, the State, and employees or contractors. When filing your W2s and Form1099, you want to avoid any and all mistakes to avoid any delays and future filing corrections. We recommend a company like us to eliminate the extra costs and delays due to frequent common mistakes made during the preparation and filing of W2s and Form1099. 

We ensure your W2 and Form1099 are filed accurately, on time, bringing you relief and confidence in your business employee W2 and Form1099 annual filing requirements.

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WHAT WE DO FOR YOUR BUSINESS WITH W2 AND FORM1099 FILING

It does not matter whether you are an existing company or a startup company, we make sure you do not get run down figuring out when you are required to issue a Form1099  or W2 Form 2021 or the preparation, filing, and distribution of Form1099 or W2 Form 2021.

 

We make the filing and reporting process easy for you to continue with your business as normal. We prepare, file, and send your company’s Form1099 and W2 Form 2021 for you. You provide us with the information required by the IRS, and we manage the rest for you, while you continue to manage your business normally in peace. We take care of the postage included in our service. Better yet, we will email your employees and contractors W2 Form 2021 and Form1099 to your employees and contractors enabling them to receive them securely and fast as well as provide you with remote Form1099 and W2 service.

It's simple. Contact us, and we prepare, file, and send your Form1099 and W2 for you. Simple!

form1099 filing
BENEFITS OF FILING WITH US

= Fast Processing

= High Accuracy

= More Secured Transition

= No Paperwork

= Avoid Errors

= Less Time-consuming process

= Less Waiting Time

All businesses are required to know when it's required to issue a Form1099 

Form1099 and W2s are required to be sent out by January 31 each year.

For a professional approach to your business’ finances, take advantage of our Business Services. Winston-Salem based Galloway Tax Express provides you with the expertise of a professional financial manager dedicated to giving your NC business the tools and information it needs to succeed.

 

The service includes:

  • New Business Formation:  The thrill of starting a new business can quickly be replaced by the realities of day-to-day organizational needs.  We provide the management tools you need to succeed.

  • Non-Profit Organizations:  Maintaining tax-exempt status is essential for non-profit organizations, and requires specific compliance with IRS regulations.

  • Small Business Bookkeeping:  You went into business to do what you love, not to do bookkeeping and accounting. We provide accurate, essential services so you are free to do what you do best.

 

Galloway Tax Express also provides QuickBooks Bookkeeping in Winston-Salem, surrounding areas and nationwide so that you can easily upload information and share it.