EP 67- Preparing for Tax Season with 1099 & Contractors

Tax season is fast approaching and as a business owner you want to make sure you are prepared and know exactly what you need when it comes to your taxes for you, your contractors and your team so you can close the year strong.    Today, Kelsey joins me as we cover the details on 1099's, contractors vs. employees and everything you need to get ready for tax season so your money team is set up for success and prepared.  In this episode, Danielle also discusses:    How entrepreneurs can prepare for tax season now 3:39 What is a 1099? 5:45 When to send a W9 and why to send one 7:22 Using a third party payment system and what that means for filing taxes 9:57 Why you need to prepare early for taxes 13:00 Categorizing your team 15:52 Investment accounts and taxes 18:21 Quarterly estimates and how much you should be setting aside 21:12 Planning for year end bonuses 24:44 Closing the year strong 30:45 Connect with Danielle: Website | https://www.kickstartaccountinginc.net/ Facebook | https://www.facebook.com/kickstartaccountinginc/ Instagram | https://www.instagram.com/kickstartaccounting  Twitter | https://twitter.com/KickstartAcct   Things Mentioned in Today's Episode:  Book your FREE Discovery call: https://kickstartaccountinginc.com/book-a-call/ Test your Financial Health: https://kickstartaccountinginc.com/checkmyfinancialhealth/   Learn how to pay yourself as a CEO - https://www.kickstartaccountinginc.com/getpaid