Form 1099 is used to report non-employee compensation paid to independent contractors, freelancers, and service providers. Federal regulations require businesses to issue Form 1099-NEC to qualifying ...

An employer is required to withhold income, Social Security and Medicare tax from their employee’s pay. They also pay half of ...

Unlike a full-time employee whose taxes are deducted from their paycheck, if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 tax deductions as you ...

The tax code is intentionally structured to provide opportunities for those who are ready to take advantage of them.