The 1099 Mistake That Could Cost You Thousands | Bookkeeping Tips for Business Owners

Not sure if you need to issue a 1099 to your contractors this year? In this video, Andrew from Profit Logic explains how to tell the difference between an independent contractor and an employee, when you must file a Form 1099-NEC, and how to track and file everything easily in QuickBooks Online. 📚 Want me to do your accounting for you? Find out more: https://www.profit-logic.com ✏️ Full free 2.5-hour QuickBooks course (step-by-step):    • 2026 QuickBooks Beginners Course: 2.5-Hour...   🌊 Full free 2.5-hour Wave course (step-by-step):    • 2026 Master Wave Accounting for FREE! Comp...   You’ll learn: ✅ The IRS rules that define contractor vs employee status ✅ When to issue a 1099 (2024 threshold: $600 or more) ✅ How to use Form SS-8 if you’re unsure about classification ✅ How to track payments in QuickBooks and file 1099s on time ✅ The 1099 deadlines and penalties you need to know 00:00 - Intro 01:23 - Contractor vs. Employee 02:50 - How the IRS tests contractor vs. employee 04:33 - If you're unsure, use Form SS-8 05:10 - Does your contractor need a 1099? 06:36 - How to track 1099's in QuickBooks Online 08:07 - If you need a bookkeeper, do this 08:49 - 1099 Due Date 09:15 - Common 1099 Myths 10:18 - 1099 Steps If this feels overwhelming — don’t worry. I help small business owners file 1099s, clean up their books, and stay IRS-compliant. 👉 Book a free consultation at https://www.profit-logic.com