Form 1099

See Also:
Form 1098
W2 Form
Tax Efficiency
Internal Revenue Service (IRS)

Form 1099 Definition

The Form 1099 definition is used by the Internal Revenue Service (IRS) determine the amounts of income that is not in the form of wages, salary, and tips. An individual’s employer fills out the 1099.

Form 1099 Meaning

A form 1099 meaning is very similar to the business form W2. Often times a company will have to fill out hundreds of this form. Its requirements are that the employer submit three copies for every 1099 form. One is for the business, one is for the employee, and the other is for the IRS itself.
Another 1099 requirement is that the company post the forms electronically if the amount per year is in excess of 250 forms. Independent contractors most often use the form because the IRS considers the payments to a contractor to be non-employee compensation. Thus, for each job that an independent contractor performs there must be a form 1099 filled out. If the amount paid is less than $600 then there need not be a form filled out by the employer or business. There are currently 16 types of 1099 which all refer to a different form of non-wage income. These forms range from distributions made from pension funds to real estate transactions.
form 1099, Form 1099 Definition, Form 1099 Meaning


IP Valuation & Monetization For The C-Suite

Intellectual Property (IP) defines and protects the sources of goods and services in the marketplace, the products and services offered for sale and the content surrounding such offerings.  Whether trademarks, patents, copyrights, or other IP, it is critical that C-Suite strategy drives and shapes the creation, valuation use and monetization of all its intellectual property.

Read More »

The Accounting Gap Between Large and Small Companies

The Accounting Gap: It’s unfortunate, but true. A large gap exists between the accounting departments of large or publicly traded companies and smaller or private companies. In our past 25 years of consulting we’ve noticed that more often than not, these smaller/private companies will fill the gap with Bookkeepers, rather than the degreed Accountants/CPAs they

Read More »

The Struggles of Private Company Accounting

Building your Accounting Department… When I meet a business owner operating at a successful $10+ mil in revenue I often hear them say “My CPA…” and I immediately know they are referring to a tax CPA. One thing ALL entrepreneurs have in common is that they have to file a tax return. So from day

Read More »


Financial Leadership Workshop

MARCH 28TH-31ST 2022


Financial Leadership Workshop


August 7-10th, 2023

WIKI CFO® - Browse hundreds of articles