Real Business Solutions develops accounting and tax software for small business owners, including 1099 preparation software. You can create, file, and print 1099-MISC forms using this software. Visit the Real Business Solutions website for more information, including a demo, pricing, and other pertinent information.
Zoho Books is a cloud-based accounting software program for small businesses. One of the best features of Zoho Books is the website offers a detailed tutorial on how to prepare 1099s using their small business accounting software. Visit Zoho Books' website for more information.
03Greatland Yearli Software
Yearli.greatland.com lets you enter your 1099-MISC information online, after which you can file the forms electronically with the IRS and transmit them to your vendors and contractors. You can also import the 1099 data from your accounting software if your software is compatible with FileTaxes.com's system.
This is another helpful product offered by Greatland. The company specializes in W-2 and 1099 reporting for small- to mid-sized businesses. You can import your accounting software data into Greatland's website and then e-file your 1099-MISC forms with the IRS and have the forms mailed directly to your vendors and contractors.
Software That Will Complete and File Those 1099-MISC Forms for You
Small Business Software That Can Help You Prepare 1099s
If you're a business owner, you're required to file 1099-MISC forms with the IRS to report any payments you made to vendors for goods or contractors for services. The form also reports prize money paid out and just about any other compensation made to anyone who is not your employee. You're required to do this because these individuals (or companies) must pay taxes on this income, and you haven't withheld any taxes from the payments because they're not your employees. You should provide the vendor or contractor with a copy of the form as well.
Generally, you must file a 1099-MISC form whenever you pay any non-employee $600 or more during the calendar year, although there are some exceptions to this rule. This means $600 in total, not per individual payment. If you make three payments of $200 each, you would have to report all three payments on Form 1099-MISC.
The filing threshold is subject to change and can increase or decrease at any time so it's advisable to periodically visit the IRS website to ensure that you know the current amount and keep abreast of other requirements.
Most accounting software programs can help you prepare 1099s. Here are four of the most helpful.