Hired a Contractor in 2024? Here’s What to do for Tax Season (Step-by-step guide)
Step 1: Do you even owe a 1099-NEC? A 1099-NEC is a relatively new form in recent years making its breakthrough in 2020, before then this was originally found on Form 1099-MISC. The term “NEC” stands for “Non-Employee Compensation,” this is considered people who are NOT employees of your business/company but are instead paid for projects or […]