Wednesday, February 03, 2010
Solving 1099 Problems
FreelanceSwitch: "If you work with clients based in the U.S, you’ve probably received a Form 1099-MISC. That’s the form that a business uses to report money paid to contractors, as well as to report other income. You should receive a copy of the form from your clients by January 31 of each year. Your clients who issue Form 1099s also send a copy to the IRS, letting them know how much income you really ought to be reporting on your taxes."
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These types of forms, and even taxes in general are just such a frightening concept to me. I've been lucky enough not to have to worry about too many government issued forms in my life, but as I've begun making my way through the world I've begun to encounter these things that are rather intimidating. What would be amazing if there was some class that everyone in the country was required to take. A class that would tell you how to do your taxes, or find your way around a 1099 form. Hopefully the education we receive in a focused program such as SOD, will include that in the education, but you never know what may be left out that could e incredibly beneficial.
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