This webinar will cover the new Form 1099-NEC, last seen in 1983. This is the new form for reporting contract labor. In addition to discussing the new form, we will talk about how to know if someone is a contractor or an employee, and whether or not reimbursements to contractors are reportable.
Weβll also cover Form 1099-MISC changes, and also the most-common boxes on this form and when a business uses them. Examples include: rent, other income (and a discussion of βwhat is other income?β), medical and healthcare payments, and payments to attorneys.