Larry Gray, CPA explains, step-by-step, how to fill out form 1099-NEC (Non-Employee Compensation). First, you need to know the old law in order to properly contextualize the new law. Then, Larry explains what NEC actually means and how it applies to the form. Finally, there are four requirements that must be met to utilize 1099-NEC.
How are the two forms different?
Why were they created?
What do the forms mean?
Who qualifies for the forms?
How to use the forms.
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