1099 and Information Return Filing for Long Island Small Businesses

Every January, small business owners across Nassau County, Suffolk County and the rest of New York face the same deadline: 1099s are due to contractors and the IRS by January 31. Miss it, file the wrong form, or skip a vendor, and penalties start adding up per form. Raymond G. Kenney CPA, P.C. handles 1099 and information return filing so you can close out the year without a scramble.

Who Needs to File 1099s?

If your business paid an independent contractor, freelancer, landlord or other unincorporated vendor $600 or more during the year for services or rent, you likely have a filing requirement. Common forms include:

• Form 1099-NEC for nonemployee compensation paid to contractors and freelancers

• Form 1099-MISC for rent, prizes, awards and certain other payments

• Form 1096 / IRS e-file to transmit paper or electronic returns to the IRS

• Form 1099-INT and 1099-DIV for certain interest and dividend payments

Payments made by credit card or through third-party processors are generally reported by the processor on Form 1099-K, not by you. Knowing which payments count, and which don't, is where most businesses get tripped up.

What's Included

• Vendor review. Ray reviews your general ledger or QuickBooks vendor list to identify who needs a 1099 and who doesn't.

• W-9 collection. We help you request missing W-9s so names and taxpayer ID numbers match IRS records.

• Form preparation and e-filing. Returns are prepared and filed electronically with the IRS, and recipient copies are delivered on time.

• New York considerations. Ray checks whether any New York State filing applies to your situation and coordinates it with your federal filings.

• Corrections. If a prior-year form was filed wrong, Ray can prepare corrected returns.

Avoid the Most Common 1099 Mistakes

1. Waiting until January to collect W-9s. Ask for a W-9 before you make the first payment.

2. Missing contractors paid in cash or by check. These are the payments most often overlooked.

3. Mixing up 1099-NEC and 1099-MISC. Contractor fees go on the NEC; rent goes on the MISC.

4. Filing paper when e-filing is required. Businesses filing 10 or more information returns in total generally must e-file.

5. Ignoring backup withholding notices. A TIN mismatch notice from the IRS has its own deadlines.

Clean Books Make 1099s Easy

1099 season goes fastest when your bookkeeping is current and vendors are set up correctly in QuickBooks. If your books are behind, Ray's bookkeeping clean-up and monthly bookkeeping services can get vendor payments categorized so your 1099 list is accurate. For ongoing setup, see QuickBooks setup and optimization.

Serving Long Island and New York, In Person or Virtually

Ray is based in Seaford, NY 11783, and works with small businesses throughout Nassau and Suffolk counties. He also works remotely with clients across New York and the U.S. by phone, video and email. See virtual CPA services.

Get Your 1099s Filed On Time

Don't wait for the January 31 deadline. Start with a free 10-minute Fit Check to see if this service fits your business, or book a 30-minute ($75) or 1-hour ($150) consultation.

Or call 516-493-2967.