Business Forms 101

Financial Snickens

It’s easy to get overwhelmed with all the different forms necessary to run a business. However, knowing which forms you need for specific types of employees is essential to keep all your accounts and tax information organized and updated.

In this episode, I walk through the most common forms required to keep your business on track.

In this episode, you’ll also hear:

• Understanding employee tax forms
• Business partnerships, contractors, non-employee compensation
• When to use 1099 Miscellaneous forms

Must-listen moments:

[00:01:27] The W4 is the form that employees fill out, and a W2 is what you get when you are an employee, and you get a record of your work.

[00:03:31] If you hire somebody to do a service, if you hire someone to build a website for you, provide bookkeeping services, provide advice on something, you hire a marketing firm, anyone that's providing you a service–you need to get a W9 from them

[00:06:08] 1099 NEC, these are for independent contractors, and it is for contractors and freelancers. You are required to file this form if you have paid anyone over $600 and they are an LLC or a sole proprietor.

Visit our website and click on the Let’s Talk button: http://www.firststepsfinancial.com

Reach out to Alisa: [e-mail]

Connect with us on social media!

FB - https://www.facebook.com/FirstStepsFinancial

IG- https://www.instagram.com/firststepsfinancial/

LinkedIn -https://www.linkedin.com/company/first-steps-financial/

Podcast audio/video editing and show notes by http://www.podcastabundance.com/services