Reduce the amount of work that your business faces due to 1099 form regulations with a reliable software system. Look for W-2 and 1099 software that streamlines how you generate, complete, and file your tax forms not only during the tax season. Software with year-round tools and support will simplify your tasks and allow you to prioritize daily responsibilities. The best 1099 software provides tax tables and any other up-to-date information about 1099 regulatory changes.
Advanced Micro Solutions is a one-stop shop for 1099 reporting. Our base W-2/1099 Forms Filer program is a complete database system that enables users to generate multiple 1099s, W-2s, and related forms. The affordable system operates in all 50 states, plus the District of Columbia and Puerto Rico. Build out the base program now with add-on modules or add any extra features as you need them.
What Challenges Do Small Businesses Encounter with 1099 Form Regulations?
Small business owners know that following 1099 regulations involves more than filling in boxes. Invest in 1099 software as a first big step in ensuring that your business accurately reports its financial transactions for the past year. Use software to overcome challenges, such as:
Data Collection – Work smarter as you gather business receipts for the past year of expenses. Look for a 1099 program with a Browse command feature. Enter data using a spreadsheet format with the tool. Make sure that your system integrates with other sources that hold your data like Excel or ordinary text files.
Manual Errors – Human error is always possible. Software that helps you adhere to 1099 form regulations cannot entirely eliminate the risk of mistakes. Software does reduce the frequency and possible severity of these mistakes. Get software with electronic filing capabilities to also send any necessary corrections with greater efficiency.
Time Constraints – Try not to let reporting deadlines sneak up on you during tax season or any other time of year. Juggle all of your responsibilities with comprehensive software. Automate the process as much as possible. Enter required information only one time when you get a program with a Common Payee File. Select a payee across payers or 1099 forms without needing to put in the same information. Reduce the time you spend reviewing forms to ensure their accuracy.
Complexity – Navigate all of the possible 1099 form regulations like a pro with a Default command tool. Define default values like state codes and IDs for a form. Certain software additionally offers regularly updated state and federal tax tables for your reference.
Best Reasons to Automate 1099 Reporting
Stay efficient and keep your business highly effective when you automate your tax reporting and filing tasks. Some of the other benefits of 1099 automation include:
Scalability – Let your software grow with your business. Identify the ways that your reporting needs must change and make sure that your program can handle an increased data volume. Use a scalable system to avoid overhauling your process or needing to buy new software too soon after a previous purchase.
Cost Savings – Do not spend more money than necessary trying to keep up with 1099 form regulations. Automate your 1099 reporting process and reduce the costs associated with your business’s manual labor. Save on staffing and resources like printer paper and specialized ink. Further reduce the risk of costly errors that may cause the Internal Revenue Service to issue fines or penalties.
Better Security – Protect your workers and business’s financial information with enhanced security features. Invest in software that provides encryption and access controls. Limit who receives permission to access data and any system passwords.
Paper or Audit Trail – Keep clear and automated records for your data collection, verifications, and submissions. Store all of the relevant information in your software for easy accessibility in the event of IRS audits.
Why Small Businesses Recommend AMS Software
There is no need to only take our word for it. Discover the many ways that AMS’ full accounting suite of tools can help a small business annually adhere to 1099 form regulations. Download our free 1099-etc Demo software today and enter your real data into the system. Test out any of our six optional add-on modules. Our modules include AMS Payroll, E-File, 1042-S Filer, Affordable Care Act Filer, Forms Filer Plus, and Software Generated Forms.
Eliminate extra steps during the next tax season or payment cycle with a fully integrated system. File year-end W-2 and 1099 forms by the appropriate deadlines directly to the IRS or the Social Security Administration. Export data from the payroll module to the base program with just a few simple clicks. Get the most use out of our software by not spending all your time managing data transfers and number crunching.