QuickBooks Desktop software has brought a big respite in the sphere of filing payroll taxes as you can file your taxes without any hassle through this software. QuickBooks users can now conveniently create and file their 1099s, which are necessitated while paying in cash, direct deposits, or check. These comprise 1099-NEC and 1099-MISC. After filing, you can mail the copies to your contractors. The current discussion shall enlighten you with multiple avenues to create and file 1099s with QuickBooks.
Who needs to file 1099s?
The creation and filing of 1099s are very important for the following:
- Filing 1099s is indispensable when you make payments to contractors in different forms like cash, direct deposit, and checks.
- If you are an employer and have hired vendors or freelancers, then in that case, also the filing of 1099 is essential.
- Also, under the withholding rules, if you have withheld the federal income tax, then filing 1099s is important.
Here are the seven steps you need to follow to create and file 1099s in QuickBooks
Step 1: Enter report contents and time
Step 2: Set the 1099 account
Step 3: Update QuickBooks
Step 4: Create 1099s
Step 5: Transfer data into 1099
Step 6: e- filing 1099 tax forms
Step 7: Verify status of 2099s filing
That’s it! We expect that by reading this blog, you should be able to create and file 1099s with QuickBooks. If you are stumbling upon any technical hindrance when performing the troubleshoot, just call our experts at the helpline 1 800 761 1787.
Source: https://bit.ly/3p2B1l1
