by Tania Vallarta, Megan Goldstein & Leonor DiStefano
Every January, businesses must issue Form 1099-Misc or 1099-NEC to non-incorporated entities or individuals who they paid at least $600 by a method of payment other than credit card for performing a service to their business. Keep reading for best practices to help you stay in compliance!
As soon as you engage a service provider and before you pay them, have them complete a form W-9. This provides you...