Dr. Friday 0:00
Good day. I’m Dr. Friday, president of Dr. Friday Tax and Financial firm. To get more info go to www.drfriday.com. This is a one minute moment.
1099s are essential to small business owners. We must 1099 anyone that makes over $600 and that includes your landlord. So if you have rent, if you pay interest to somebody, if you pay for services to somebody, the law says we’re supposed to issue 1099 to those individuals if we paid them more than $600. If we don’t, there are fines and penalties that can be assessed and why not do it so that way we can make sure we deduct the right amounts on our tax returns.
If you need help with your taxes, go to drfriday.com and set up a tax appointment today.
You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 pm to 3 pm right here on 99.7 WTN.