#SIMPLE ACCOUNTING SOFTWARE FOR 1099 CONTRACTORS HOW TO#
Here at Fix-It Accounting, we will teach you how to manage it all. This requires a whole new set of skills! But help is available. Here are just a few reasons why accountants rely on our software every year during tax season to process 1099 returns for their clients and their own organizations. It allows our clients to make payments as often as necessary to stay out of trouble!Īnd there’s more…contractors are responsible for record keeping and reporting of income and expenses associated with their earnings. Our easy-to-use 1099 accounting software has been trusted by tax professionals nationwide for more than 15 years. So we generally set our contractors up in the IRS electronic payment system known as EFTPS. They’re only required to be made on a quarterly basis, but we find that saving for 3 months just to pay the IRS is quite difficult for some. Compare top freelance accounting features: Honorable mentions Sage Business Cloud Accounting: Best customer service GoDaddy Online Bookkeeping: Best for.
But there are pitfalls! If you are a contractor, we strongly urge you to make estimated tax payments during the year to the IRS. Yes, contractors get tax write offs that employees don’t get and that sometimes makes being a contractor more appealing. Company Accounting Software For 1099 Contractors Phone Number 88 Location 162 N 400 E Bldg C Suite 301 St George, 84770 United States of America Company Details.
And yikes, there is no employer to withhold the tax from a paycheck. MAKE A CONNECTION Accounting Software For 1099 Contractors is accepting messages: Send Message Overview Contact Information. And on top of that, they have to pay ordinary income tax. While employees have their half of the payroll tax withheld by their employer and the other half paid by their employer, contractors are completely responsible for their own payroll tax that tops 15% of their net business income. Accounting For 1099 Contractors By far the largest group of people we see with IRS problems are the 1099 Contractors.
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