Employers who pay independent contractors for work that is not paid through their payrolls do not take out deductions. The contractors file their own taxes and make the payments. As a result, ...
Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Thomas J Catalano is a CFP and Registered Investment Adviser with ...
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What freelancers need to know about 2026 tax changes
Starting in 2026, the IRS is raising the reporting threshold for Forms 1099-NEC and 1099-MISC from $600 to $2,000 under the One Big Beautiful Bill Act. The change means fewer forms for small payments, ...
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Mastering your 2026 1099-NEC filings
The IRS has raised the Form 1099-NEC reporting threshold to $2,000 for 2026, impacting businesses and self-employed individuals who pay or receive nonemployee compensation. Understanding the filing ...
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