If you haven't noticed 2017 is looming very near!
Stay tuned and I will give you some reminders & tips to get to the end a little bit smoother this year.
One this that is really important this year is that you have to file your 1099s with the IRS at the end of January this year! That means you need to get them out as soon as you can so your subcontractors can review them-hopefully before you file them with the IRS. Here is a link that explains the changes.
- Go thru your vendor files and see who will qualify for a 1099 and make sure that you have their current address and tax id number.
- Do the same thing with your employees so that you have correct addresses for W2s.
- Verify that social security numbers you have been given are valid. Click here to use the Social Security's website.
- Clean up all payroll and vendor errors that may impact W2s or 1099s. Are year-to-date totals correct?