01/02/2019
HAPPY NEW YEAR
Looking for God to do great things in 2019. Reminder that ministries and nonprofits have W2s and 1099s due to recipients no later than January 31, 2019.
W3s and 1096s are due to the IRS by February 28, 2019 if you are going to mail.
Contribution statements and charitable donation letters are due by January 31, 2019. Who should receive: anyone making an aggregate donation of $250.00 or more
Who should receive 1099s: Anyone providing services to the ministry or nonprofit and were paid more than $600.00 (exception: corporation).
Examples:
Bookkeeper, Accountant, Enrolled Agent, or CPA (if
not a W2 employee)
Attorney
Guest Speakers, Consultants, or Facilitators (typically
should not include hotel, transportation, and
meals)
Contract Labor (administrators, secretaries, janitors,
security services, musicians, teachers, culinary,
and catering companies - if they are not
employees)
Lawn/Landscaping Services
Advertisers (maybe)
Pest Control (maybe)
Repair Maintenance (plumbers, air condition and
heating, and construction contractors)
Audio Visual Services
Computer and repair services
Who should not receive 1099s:
Utility companies
Telephone Services
Box-store and Online retailer's like (Sam's Club,
Walmart, Amazon, and Office Depot)
IRS deadline: February 15, 2019 to receive new W4s from W2 employees. I highly recommend this for everyone. With all the new tax law changes, you can help employees take a closer look at their personal exemptions.
The above examples are not exhaustive. Check with your bookkeeper, accountant, enrolled agent, or CPA if you have questions.
God Bless you in 2019 and beyond!!!
