Hey, what's up everybody? Welcome back to the mind-blowing video series of tips, tricks, strategies, and hacks for your income taxes. My name is Tyrone Gregory, the people preneur and founder of the axefromsquareone.com website. I am going to be your guide through the fourth video in this series. This video series is dedicated to all the self-employed individuals. The reason they have their own video is that, for this group of individuals to achieve that perfect tax return, there are a few extra steps that they must consider. If not, they're going to be caught off guard. But before we get into the details, let me explain who the self-employed are exactly. Well, they are a group of individuals who are considered to be independent contractors because they don't necessarily have one employer or boss. They work for themselves, doing various tasks and projects. Once those things are completed, they get paid. And with the introduction of the internet and social media, we also have a new group of independent contractors that we like to call social media preneurs. I love these guys because they're doing a great thing online, generating what we call passive income. But for the purposes of this video, there are two types of self-employed individuals that I want to identify and speak to. The first is those who are self-employed on purpose. These guys are the serial entrepreneurs. They know exactly what they're doing. They made a choice to be their own boss and take charge of everything they do. They are operating without a safety net. They're innovators, doing everything on their own. They are the leaders. They are the master of their own selves. It is their intentional choice. The second type is those who are self-employed by accident. These individuals have no clue that they are...
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2016 IRS 1099-MISC Form: What You Should Know
Instructions for Form 1099-MISC — IRS 2017 Instructions for Form 1099-MISC — IRS Results 26 – 65 of 66 — Instructions for Forms 1099-MISC and 1099-MISC, Miscellaneous Income (Info Copy Only), 2017. 2 Instructions for Form 1099-MISC and 1099-MISC, Miscellaneous Income (Info Copy Only) 2 Instructions of Forms 1099-MISC and 1099-MISC, Miscellaneous Income (Info) Copy 2023 1. This income should be reported on lines 13a-13e of Schedule E or on lines 31 to 37 of Schedule W. The amount reported on lines 13A-13D (other than the first 5,000 of gross payments) should be reported on line 36. The amount reported on line 12D should be reported on lines 37 through 50 of Schedule W. The amount reported on line 14C should be reported on lines 30 and 36 of Schedule E. You should file Form 1099-MISC for each person or business subject to income tax withholding who received gross payments in the year. If no person or business received gross payments, file Form 5471 to complete the required information, including all statements, on Line 2. You should complete Line 1 as follows: I. Gross payments, or more; 2. Source, the person making the payment, or the business if the payment is made by a partnership or corporation; 3. Date, including the month and month and year when the payment is received by the payee; and 4. Amount of payment. 2023 Miscellaneous Income Instructions 1. This information is required if the payee or recipient of the payment received in any year is subject to income tax withholding and reporting. The information to report would be on Schedule E if the payee or recipient is a person, or on Schedule W if the payee or recipient is a business. If you are filing a Form 1099-MISC for a taxable year ending on a Sunday, you would report it on Form 1099-MISC—Totals if the mayor is a person or partnership and is paying a dividend, interest, royalty, or rental income.
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