As a small business owner, you have many accounting responsibilities, like tracking your business transactions, income, and expenses. And on top of juggling these tasks, you must also understand which basic accounting forms are relevant to your small business.
Read More Basic Accounting Forms for Small Business That You Should KnowPatriot Software's Blog
“SOS! Do I Need to Prepare a 1099 for Credit Card Payments I Make to Contractors?”
July 28, 2026Paying a contractor to perform work for your business comes with a little disclaimer: reporting said payments on Form 1099-NEC. But what if you pay your contractor using a credit card? Do you have to prepare a 1099 for credit card payments?
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If You Make 1099 Payments, You Need to Know Your Responsibilities
July 28, 2026As a small business owner, you regularly make payments to the vendors you work with and pay wages to your employees. But if you deal with a 1099 vendor or contractor, the amounts of money you give them are considered 1099 payments. To keep your business legal, you need to understand what 1099 vendors and […]
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What Is an Independent Contractor?
July 28, 2026As a business owner, you might need to hire a worker at some point or another. And depending on your type of business, you might need to hire employees, independent contractors, or both to get the job done.
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IRS Electronic Filing Requirements: Who Needs to E-file?
July 28, 2026You may have to file information returns like Form W-2 and Form 1099-NEC when you have employees, work with independent contractors, or meet other requirements. Some businesses must electronically file these returns with the IRS. There is an IRS electronic filing threshold that determines which companies must e-file.
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What’re the Differences Between Form 1099-MISC vs. 1099-NEC?
July 28, 2026Before 2020, business owners used one universal form, Form 1099-MISC, to report nonemployee compensation and other types of payments (e.g., rent). But after a 38-year absence, Form 1099-NEC made a return in 2020. So, how do these forms differ? Read on to learn all about Form 1099-MISC vs. 1099-NEC and which form you need to […]
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How to Set up Payroll for a Small Business
July 28, 2026Hired your first employee? Check. Set a start date? Check. Ready to process payroll? Not quite yet. Before you can start paying your employees, there are a few steps you need to know and some terms to learn. This handy payroll 101 guide explains how to set up payroll the right way so you can […]
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How to Fill Out a 1099-MISC Form: 1099-MISC Instructions [The Ultimate Guide]
July 28, 2026How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms.
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What Is Form 1099-MISC, and Are You Responsible for Distributing It?
July 28, 2026If you paid a person that is not an independent contractor during the tax year, you might need to file Form 1099-MISC. So, what is Form 1099-MISC?
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Form 1099-NEC for Reporting Contractor Payments
July 28, 2026After a 38-year absence, Form 1099-NEC made its return in the 2020 tax year. For the last few decades, business owners were responsible for using Form 1099-MISC to report nonemployee compensation. But with Form 1099-NEC, employers can say hello to a revamped form and goodbye to reporting nonemployee compensation on Form 1099-MISC.
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