Women Entrepreneurs

All about 1099s

If you own a small business, chances are you will be dishing out some 1099s this year. Not sure what 1099s are, who should be getting them, and when they're due? Worry not – we've got you covered. Here's everything small business owners need to know about this common IRS tax form.

What are 1099s?

To put it simply, a 1099 is a form used to claim miscellaneous types of income that fall outside the scope of wages, salaries, and tips. These outside income sources can include real estate transactions, self-employment, interest, short term contract work, long term contract work, and more.

Who Gets 1099s?

If you pay an independent contractor more than $600 between the months of January and December, you must file a 1099 for that contractor. The form details the total payments issued to said contractor, letting the IRS know how much in taxable income is owed. If you paid the contractor less than $600 that year, there's no need to file a 1099.

Wondering what the difference is between an employee and a 1099 contractor? This is where things can get a bit tricky. In short, to be considered an independent contractor, one must be able to have control over the work he or she performs. Basically, you're not this person's boss. You are only using his or her contracted services.

 

When Are They Due?

Ideally you want to get the contractor his or her copy of the 1099 before January 31st.  When it comes to filing with the IRS, electronic filing is the easiest and safest solution. Better yet, if you file electronically, the IRS allows you to do so up until April.

           

Small business owners face unique challenges when it comes to bookkeeping. Find yourself not knowing where to start? No problem! We specialize in helping small businesses keep their books in tiptop shape. Give us a call to discuss your small business bookkeeping options DanielleH@kickstartaccountinginc

Best Podcasts for Women Entrepreneurs

Running a new business can be a daunting task for women entrepreneurs, especially when seeking assistance from mentors or inspiring people who hold expertise in their relevant fields. Luckily, there are some great podcasts available for women who need some valuable guidance or insight into how a business works. These podcasts are creative, offer valuable advices or suggestions, propose novel and innovative business strategies, and inform about the shift and transformations taking place within the market milieu.

Some of the most popular and innovative podcasts for women entrepreneurs are both informative and inspiring. Here are a few you may want to check out for yourself.

BizChix

BizChix is hosted by Natalie Eckdahl, a performance coach and business strategist. The basic aim of this podcast is to assist women across the globe in scaling their business, guiding them on things that they need to avoid to achieve success. In this podcast, Eckdahl interviews influencers from the industry who provide insight into how businesses can be developed over a period of time.

Stacking Your Team

This podcast is designed to help women entrepreneurs in becoming successful CEOs of their companies or organizations. This includes valuable information on attracting, as well as retaining, the best talent in the industry. Shelli Warren organizes guest interviews, training sessions, and coaching sessions that provide insight into how employees can be hired, removed from their job, or inspired to contribute towards the success of the business.

The Goal Digger Girls

The Goal Digger Girls podcast is in the form of a business workshop that focuses on helping women in accomplishing their dreams and achieving success. They train women on how they can work effectively to  accomplish and tackle their goals accordingly. The podcast is hosted by Jenna Kutcher, a photographer and educator by profession.

Quit Your Day Job

This podcast helps the audience explore their sense of purpose in life and discover the unique set of talents they possess. Cathy Heller hosts the podcast and organizes interviews with inspiring people in the industry. These professionals share their personal experiences and narrate their journey of self-discovery to determine if their work goals are aligned with their identity.

Business Boutique

Business Boutique is led by Christy Wright, a certified business coach and is passionate towards helping others in achieving their goals. This podcast was created to help women in earning or making money from the work they love to do. She guides people on how they can make money from their work goals and objectives in the best possible manner.

 

CEO Warrior

CEO Warrior is hosted by Mike J. Agugliaro and his partner. They help business owners with their work goals and provide them insight into the set of skills or tools that are presently working in the marketplace. This podcast helps struggling entrepreneurs with improvising their work practices, sharing with them stories of people who became multi-millionaires.