Investor · Minneapolis, MN · Member since 2017 · 103 posts · 53 votes
Operating as an LLP, getting conflicting answers regarding when is it mandatory to give 1099's out. Sounds like $600 is a consistent threshold. But do I really need to give a 1099 to my plumber, lawn mowing guy etc. ? Any advice with some facts backing it up would be nice. My accountant says I should be giving 1099's but he can't point me in the direction that explains if I have to. Thanks..
You have to issue 1099s to non-employee independent contractors that rendered services to your entity and were paid $600 or more during the year. If the recipient is a corporation, no 1099 is required. If the payment is made by credit card, no 1099 is required as well.
You have to issue 1099s to non-employee independent contractors that rendered services to your entity and were paid $600 or more during the year. If the recipient is a corporation, no 1099 is required. If the payment is made by credit card, no 1099 is required as well.