If your business pays nonemployee compensation and other reportable payments, you must be aware of two forms: Form 1099-MISC and Form 1099-NEC. Many employers are likely familiar with Form 1099-MISC.

A 1099 form reports income you earned as a non-employee, meaning taxes weren’t withheld from your pay throughout the year. You’ll typically receive one if you were paid as a freelancer, independent ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Vikki Velasquez is a researcher and writer who has managed, coordinated, and directed ...

The IRS considers goods and services exchanged through bartering to be taxable income to both parties Investopedia contributors come from a range of backgrounds, and over 25 years there have been ...

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