Year-end, for small businesses
Get the books and 1099s done before February 1
For payments made in 2026, the 1099-NEC threshold rose from $600 to $2,000. The forms are due February 1, 2027. We clean up the year, sort out who gets a 1099, and hand your accountant books that are ready for taxes.
What changed for 2026
- 1099-NEC: required for contractors you paid $2,000 or more in 2026 (it was $600). Due February 1, 2027. (deadline details)
- 1099-K: payment apps and processors file only above $20,000 and 200 transactions.
- Payments by card or through apps are generally reported by the processor on a 1099-K, not by you on a 1099-NEC.
What we do
- Reconcile every bank and card account through December 31
- Clear uncategorized transactions and fix miscategorized ones
- List every contractor and total what you paid each, by payment method
- Collect missing W-9s before the deadline crunch
- Prepare 1099-NECs for those at $2,000 or more, for your review
- A year-end package for your accountant: statements, reconciliations and the 1099 list
The calendar
November and December: W-9s and reconciliation through November. First week of January: close December. By mid-January: 1099s to you for review. February 1: filed and sent.
Catch-up bookkeeping · 1099 preparation
Questions
Do I still send a 1099 to a contractor I paid $1,500 in 2026?
Not for 2026 payments, under the new $2,000 threshold. Keep their W-9 and records anyway, and confirm unusual cases with your accountant.
When are 1099s due?
February 1, 2027 for 2026 payments, because January 31 falls on a Sunday.
Do you file my taxes?
No. We get the books and 1099s ready and hand your accountant a clean package. They prepare and file the tax return.