Do Sole Proprietors Need a 1099? Understanding 1099 Requirements for Sole Proprietors
Sole proprietors don’t need to fill out form 1099 unless they hire contractors or subcontractors. If they operate alone, they use this form to report their earnings. A 1099 form records payments received by someone other than an employer. Sole proprietors should use IRS Form 1099-MISC to report payments incurred during business activities. Though simple, … Read more