A Hard Conversation Made Easy
A Hard Conversation Made Easy Throughout previous stages of life, you might have become accustomed to keeping your financial matters fairly close to the chest. Now, however, would be a good time to start involving your family as you develop and effectuate your estate...
Planning Your Legacy & Your Family’s Financial Future
Planning Your Legacy & Your Family's Financial Future Estate planning, or legacy planning, can play a critical role in your ability to save for and shape your family’s financial future. While most people think of estate planning as something to be addressed later...
2025 Year-End Planning Guide
Retirement Tools: HSA Accounts
Retirement Tools: HSA Accounts By Kathryn Barnett When planning for retirement, most people do not realize their HSA account is more than a savings account for medical expenses. An HSA account is a triple-tax advantaged health savings account that an individual can...
Does your Child Need to File an Income Tax Return?
Does your Child Need to File an Income Tax Return? As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS...
Do you have a lost 401(k)?
Do you have a lost 401(k)? By: Kathryn Barnett Take minute and think about how many places you have worked. Now, think about whether you contributed to a 401(k) at each of those places. Did you roll the contents of a previous 401(k) into your existing 401(k) or a...
Medicare Quick Facts
Medicare Quick Facts WHAT IS IT? Medicare is a federal health insurance program for people 65 and older, as well as certain disabled individuals. DO I HAVE TO ENROLL? Yes. If you have not been receiving Social Security benefits for at least four months prior to...
HELP! MY SPOUSE WANTS NOTHING TO DO WITH OUR FINANCES.
HELP! MY SPOUSE WANTS NOTHING TO DO WITH OUR FINANCES. What do I do? By: Kathryn Barnett, Financial Advisor Below is a scenario that I have encountered that I think is familiar to all of us. I don’t know what to do. I recently received a grim prognosis, and I am...
Final Reminder: Download your files before NetClient CS Portal Closes
This is a final reminder that our NetClient CS (NetClient Access) portal will be permanently closed on December 31, 2025. After this date, all documents in the portal will be permanently deleted and cannot be recovered. To keep any files you need, please follow...
Requirements for 1099 Form-2025
Requirements for 1099 Form-2025
By Erin Pitts, CPA
Form 1099 for certain payments made during the tax year.
You are required to file a Form 1099 if you paid $600 or more to a non-employee, such as independent contractors, freelancers, or other service providers. This includes payments for services rendered, rents, or prizes. Common types of Form 1099 include:
- 1099-NEC for non-employee compensation (e.g., independent contractors or consultants)
- 1099-MISC for miscellaneous payments (e.g., rent, royalties, or prizes)
However, there are exceptions to this rule:
- Payments made by credit card or third-party networks (e.g., PayPal): If you pay a vendor via credit card or a third-party payment processor, you are not required to issue a 1099 form. The payment processor will report the transaction to the IRS.
- Payments made to corporations: Generally, payments to corporations (including LLCs taxed as corporations) do not require a 1099 form. However, there are exceptions for payments related to legal services or certain types of medical payments, which may still require reporting.
The filing deadline for Form 1099 is January 31st, with forms required to be provided to the recipient by this date as well.
If you would like Rushton to file these forms for you and have not already received an email about filing directly from our staff, please contact us today. In order to guarantee timely filing of 1099s by Rushton, LLC all 1099 information must be received by our offices no later than Friday January 16, 2026.
If you are unsure whether a specific payment requires a 1099 form or need assistance with the filing process, please do not hesitate to contact our office. We are here to help ensure that your filings are accurate and timely.
A quick guide on how to scan documents with your phone
A Hard Conversation Made Easy
A Hard Conversation Made Easy Throughout previous stages of life, you might have become accustomed to keeping your financial matters fairly close to the chest. Now, however, would be a good time to start involving your family as you develop and effectuate your estate...
Planning Your Legacy & Your Family’s Financial Future
Planning Your Legacy & Your Family's Financial Future Estate planning, or legacy planning, can play a critical role in your ability to save for and shape your family’s financial future. While most people think of estate planning as something to be addressed later...
2025 Year-End Planning Guide
Retirement Tools: HSA Accounts
Retirement Tools: HSA Accounts By Kathryn Barnett When planning for retirement, most people do not realize their HSA account is more than a savings account for medical expenses. An HSA account is a triple-tax advantaged health savings account that an individual can...
Does your Child Need to File an Income Tax Return?
Does your Child Need to File an Income Tax Return? As parents, we encourage our children to work, so they can learn important values about work and independence. At what point, if at all, do children need to file an income tax return for the money they earn? The IRS...
Do you have a lost 401(k)?
Do you have a lost 401(k)? By: Kathryn Barnett Take minute and think about how many places you have worked. Now, think about whether you contributed to a 401(k) at each of those places. Did you roll the contents of a previous 401(k) into your existing 401(k) or a...
Medicare Quick Facts
Medicare Quick Facts WHAT IS IT? Medicare is a federal health insurance program for people 65 and older, as well as certain disabled individuals. DO I HAVE TO ENROLL? Yes. If you have not been receiving Social Security benefits for at least four months prior to...
HELP! MY SPOUSE WANTS NOTHING TO DO WITH OUR FINANCES.
HELP! MY SPOUSE WANTS NOTHING TO DO WITH OUR FINANCES. What do I do? By: Kathryn Barnett, Financial Advisor Below is a scenario that I have encountered that I think is familiar to all of us. I don’t know what to do. I recently received a grim prognosis, and I am...
Final Reminder: Download your files before NetClient CS Portal Closes
This is a final reminder that our NetClient CS (NetClient Access) portal will be permanently closed on December 31, 2025. After this date, all documents in the portal will be permanently deleted and cannot be recovered. To keep any files you need, please follow...