1099 MISC vs. Form 1099-misc 2018-2023

In this video we want to do a quick reminder for you as a business owner if you need to issue any 1099s the 1099 nec is due january 31st so that's coming up really quick if you pay rent to someone to for your business then that 1099 the 1099 miscellaneous is actually not due until february 28th so you get a little bit extra time with that one so you really need to focus on the nec so tell me just second you said to me uh nec for labor and then you went to ren i think that's miscellaneous so the real focus in january is the 1099 nec so tell me why and what changed last year so the 1099 nec is for your contract labor okay in the past those were all report your rent and your contract labor was reported on 110.99 it was a 1099 miscellaneous well as of last year that has all changed to where they've broken it out into two different 1099s because actually your deadlines have always been the same if you had labor they were due january 31st if you were issuing for rent it's always been due february 28th so instead of having it on one form to where it was really confusing on when to file them they've split them out now so that reminder is is that number one is if i've got contract labor of any time if i've got casual labor so i've got to watch it contract labor casual labor if i just paid somebody in business in labor it could be to overhaul an engine it could be to mow my lawn out in the front of the building it could be a subcontractor so these terminologies all these as long...