Video instructions and help with filling out and completing Fill Form 1094 B Deduction

Instructions and Help about Fill Form 1094 B Deduction

Alright so you know you have to file a 1099 miscellaneous return you know you got to give it to your contractors you know you got to get all this other stuff and you're done right but don't forget you also need to file something else the question I'm gonna answer is do I need to file anything else with my 1099 answers yes you do you have to file it form 10 96 okay they're from 10 96 is this annual report summary which takes all of your 1099 and it adds it all together and it tells the IRS that this is a total amount of money that was paid so i can deduct and this is a total amount of money that I saved for you so I'm gonna give you as tax withholding and then I'm going to sign it so make sure you follow your 1099 I'm sorry 1096 they lie because it's very important so make sure you do it right okay thanks the average 1099 employment tax audit is probably gonna cost you twenty six thousand dollars it's a lot of money for a small business so stop worrying about things that don't matter like incorporating don't incorporate in Delaware and definitely don't incorporate Nevada take care of the important things like your employment taxes messing it up means that you're going to be personally on the hook every time so check out our free employment tax guide and see what it works okay