Easily File 1099-NEC or W-2 Forms: Quick Employer Forms (QEF)

[KarenL]

Did you pay someone to help with your business? If so, you might need to file a W-2 form for an employee or a Form 1099-NEC for contracted help. If you have bona fide W-2 employees, you’re probably already withholding taxes and you know those W-2 forms must be filed timely each year. But if you just have a little side help, you might not know IF you need to report their income or how to do it. 

Generally, if your business paid for someone’s services totaling $600 or more during the tax year, you need to file Form 1099-NEC. This is considered non-employee compensation and those “helpers” are considered to have their own independent business (they’re also self-employed). Some examples might be consultants, freelancers, other self-employed people, or contractors. Non-employee compensation could also include prizes, fees, or commissions you pay that total $600 or more during the tax year.

The links below will fill you in on all you need to know!

• What is Quick Employer Forms? - A great overview on what it is and the various forms you can file.
• QEF (Quick Employer Forms) FAQs - Just a little more of the above - it’s the FAQs.
• Easily create, e-file, & print W-2s & 1099s - This is the link to get started with QEF.
• Form W-9 - What Is It and How Is It Used? - Have your helpers fill out this form BEFORE you pay them! 
• What is Form 1099-NEC? - This will help you understand the 1099-NEC better and the who, what, and why of the form itself.
• What is a W-2 Form? - This is a great overview of the ins and outs of the W-2 form - helpful for employers and employees alike.

If you need tax advice or have questions that aren't answered in the links above, please ask in our Taxes forum that best fits your needs!