In this episode of the Sunlight Tax Podcast, I break down everything self-employed business owners need to know about 1099s – what they are, why they matter, and what's changed under current 1099 reporting rules. If you work with independent contractors, I walk you through a clear, step-by-step 1099 checklist to help you file correctly and on time. We cover why accurate bookkeeping is important, when and why to collect W-9 forms, and how to avoid common 1099 mistakes that can trigger IRS penalties.

I also explain the different types of 1099 forms (including which ones apply to freelancers and small businesses), what each form is used for, and the penalties for failing to file or filing incorrectly.

Also mentioned in today's episode:

01:00 Understanding 1099: The Basics

04:31 The Importance of 1099s

10:53 The kinds of 1099s you are going to be dealing with

18:20 Checklist for Issuing 1099s

25:45 Other Resources for filing 1099s

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Links:

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