2024 1099 Preparation – Due Date
In order to provide more timely and cost-effective service for Forms 1099, we are offering two options for compiling and submitting the data for the 2024 Forms. If you would like our assistance in preparing the forms, we must receive your 1099 information in our office by Wednesday, January 8, 2025, to guarantee completion by the filing deadline of Friday, January 31, 2025. In fairness to all of our clients, 1099s will be prepared in the order in which they are received along with other year-end payroll reports.
Option 1 – We’ll Prepare Your Forms 1099 Based on the Information You Provide on the 1099 Worksheet
You can fill out the worksheet included in the email you received and return it electronically. We will prepare 1099s for only the vendors listed on these worksheets. We will not sort through your QuickBooks file for any data. We will rely solely on the data provided by you on these worksheets. The fees to prepare the 1099s under Option 1 will be based on the number of forms submitted for preparation. The fee for up to two (2) 1099s will be $375. Each form in excess of two forms will be $34 per 1099.
- Please download and complete your filing preference here.
- You can download the Beaird Harris 1099 Worksheet here.
- Once complete, please upload your filing preference and 1099 Worksheet here.
Option 2 – We’ll Prepare Your Forms 1099 After Reviewing Your QuickBooks for 1099 Information
You will provide us with a QuickBooks back-up or grant us access to your QuickBooks Online file, and we will review it for possible 1099 recipients. This is a much more time intensive preparation process, as it involves us reviewing all your QuickBooks activity, mapping the correct accounts, and properly setting up the vendors. We will also have to go back and forth with you on a number of payees to try to determine if 1099s are needed. Please understand this process by nature involves a lot of guesswork on our part. As a result, this service will be significantly more costly than Option 1. The fees for this option will be based on our time incurred with a minimum fee of $1,070, which includes up to four 1099s. Each form in excess of four forms will be $34 per 1099.
- Please download and complete your filing preference here.
- Once complete, please upload your filing preference here.
Self-File – We’ll be Self-Filing our 1099s and Do Not Require Beaird Harris’ Assistance
If you would like to prepare your own 1099s, the necessary forms can be purchased from your local office supply store (such as Office Depot).
We are Here to Help
As always, please free to contact us with any questions. We recognize this can be tough information to gather and we are here to help! If you need help, now is the time to get help rather than when the deadline is closing in. If you are unsure if a vendor should be issued a 1099, we are happy to walk you through that determination.
Other Useful Information Related to 1099 Preparation and Filing
Who is Eligible For a 1099?
- Individuals or businesses that are not incorporated and were paid $600 or more during the year for any type of business service (contract labor, repairs, computer consulting, cleaning services, etc.).
- Your Landlord for rent paid.
- All attorneys’ fees, medical and health care payments, regardless of incorporation, who were paid $600 or more during the year.
- Note that the only excluded companies are true corporations. The confusing part is that you are required to send 1099s to those businesses formed as LLCs, LPs or partnerships, as well as sole proprietors with “business sounding names” that are not incorporated. If the business name ends in “Company” or “Co.,” you will need to determine the type of entity in order to determine if a 1099 is required. Having your vendors complete a Form W-9 will help you to determine whether or not a 1099 is required.
- Please Note: Beaird Harris is a professional limited liability company so you are required to issue a 1099 to us.
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