Managing 1099 form generation is a time-consuming and error prone process if you do not use software or a reliable tax software program. Even the smallest businesses should look into getting affordable 1099 software that meets their specific needs. Tax software reduces the risk of incurring avoidable penalties and fees from the Internal Revenue Service. The best software for your 1099 needs is customizable and is not one-size-fits all. Look for a service that allows you to build your own accounting suite of add-on features and tools.
Advanced Micro Solutions offers its users a full modular suite of tools. Our base W-2/1099 Forms Filer program comes with six optional add-on modules. One of these modules is our Software Generated Forms program. Print most forms in the product suite onto plain white paper directly from your printer.
Who Needs 1099 Form Generation Software?
Small businesses need 1099 software at different times and for different reasons. Some of the reasons it may be time for your business to invest in a first-time program or a new system is if:
Your current software does not generate the necessary forms. Use software that supports W-2, W-3, and many 1099 forms. Speak with a 1099 software vendor before you make a final purchase on a system. Think about future business plans and if your goals include needing a specific form. You do not want to find out later that your software is not scalable or that it cannot accommodate your business’s long-term needs.
You need more or better automated features. Your 1099 form generation software should create less work for you and your team. Avoid entering the same information multiple times with a Common Payee File tool. Make sure that the software saves your data automatically as you access a new record or form to reduce the risk of losing important information.
Making mistakes when crunching numbers has become commonplace. Do not put yourself or your business at risk with the IRS. Input the correct data as you generate a new form with the automated features. Calculate selected fields within the product suite while using the product to flag any inconsistencies.
You hired independent contractors for the first time. Onboarding a new worker classification is an important time to have 1099 form generation software. See how much money you will save instead of ordering batches of IRS documents that you may or may not use during a current tax season.
The Best 1099 Filing Tips for Small Businesses
Ensure a smooth 1099 filing process by implementing certain best practices. Some of the best practices include:
Collecting the Relevant Information – Gather what you need from all of your employees and independent contractors. Generate your W-9 forms ahead of time and have the workers submit their information before you start doing business with them.
Completing Accurate Tax Forms – Invest in tax software to better ensure that you use the correct 1099 forms. Complete the 1099 form generation process and then input data onto an entry screen that reflects an actual tax document.
Meeting the Important Deadlines – Small businesses know the important deadlines and that it is just as important to stay ahead of them. Use comprehensive software to streamline the work that goes into generating 1099 forms. Do not wait until the last minute to send documents to a worker or agency in case you encounter problems or delays.
Maintaining Thorough Records – Hold onto hard and/or digital copies of your business’s 1099 documents for at least three years. Save these records for tax audits or your own use. Store the forms within your protected program by using encryption or password protected tools.
Get Started with AMS Software
Download our free 1099-etc Demo software today and learn the ins and outs of our 1099 form generation opportunities. Pair our Software Generated Forms module with the base program or other add-on modules to print your forms onto blank paper. Our five other optional modules are: AMS Payroll, Affordable Care Act Filer, 1042-S Filer, E-File, and Forms Filer Plus. Our software provides an easy-to-use, menu-driven format that operates in all 50 states, plus the District of Columbia and Puerto Rico. Import data from a variety of sources, including Excel, form print files, and ordinary text files.
You do not need to just take our word for it. Try our Software Generated Forms tool for yourself. See how it supports most Windows compatible printers and works efficiently with a USB printer.