If I paid all my contractors via PayPal, do I need to issue any 1099s?

If I paid all my contractors via PayPal, do I need to issue any 1099s?

Small Business Tips

You do not have to issue the contractor a 1099. PayPal is considered a third-party merchant and they are required to issue their own 1099 forms, called a 1099-K. If you pay a person or business via PayPal’s Friends and Family option, you will need to a 1099-MISC to them. When you use this method to transfer funds, PayPal assumes it’s a non-business transaction and doesn’t include it in their 1099-K.

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Tax tips for last-minute tax filers

Tax tips for last-minute tax filers

Taxes

It’s human nature to put off things that don’t fire you up. I usually put off cleaning my house until we have guests over and if you’re reading this, you probably put off doing your taxes until the last minute….

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