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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Does your accountant need to be in your state?

Does your accountant need to be in your state?

Small Business Tips

Thanks to CPA mobility, your Certified Public Accountant is not required to operate in the same state you’re living in. CPA mobility is a national effort to adopt a uniform system that allows licensed CPAs to provide services across state lines without being subject to unnecessary burdens that do not protect the public interest.

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