Understanding the basics To report the income of individuals (other than their regular salary), the IRS have set guidelines to fill Form 1099 in the US. However, the 1099 forms are not filled by the individuals, but the entities which pay them. So, if you are the entity who has availed the services from someone...
As the tax filing months are approaching, all the freelancers, self-employed, contractors, employers, and business owners are worried about various forms. Along with such forms, it is even more confusing to identify which Form 1099 will be received. There are 13 types of Form 1099 which serve various purposes. In this article, we will focus...
MAS is pleased to welcome Mr. Rajesh Kumar Bansal as a senior partner in the firm. With his 25+ years of experience, Rajesh brings a great wealth of knowledge to the firm and will surely be an invaluable asset, ensuring the highest quality services. Rajesh holds enormous experience in handling Taxation and Auditing matters, and...
Are you new to the term 1099-K or are you new to knowing about this type of Form 1099? Well, in any case, there are enough reasons to know about Form 1099-K, especially if you constantly deal in payments through cards or third-party networks. In this article, we have covered the key highlights of 1099-K...
If you are a business owner working with non-employee professionals, independent contractors, or freelancers working in the US, then you must be aware of Form 1099 and its various types. It is a mandatory Form that needs to be filed and used for paying taxes. What is Form 1099? The Form 1099 is a...
Year-end closing is an important activity that is practiced by almost all companies sincerely in order to analyze the company growth as well as cash flows. It is basically an updating of the records and transactions which took place in the fiscal year that needs to be recorded in the books. Same is the case...
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