If you paid another business owner or self-employed individual for services for your business, you may have to send them a 1099-Misc by 1/31/2019.
Here are the Basic Guidelines...
Step 1 - Request form W-9 from them
Step 2 - Search your Books and record how much you paid them during 2018
Step 3 - Sign up for JDBC 1099 Services
If you sell tangible goods, you have Inventory. When you purchase you materials and/or goods you resell or make them into something you sell, your costs are part of your inventory and are NOT a deductible expense.
Here are some tips...
Inventory values are based upon YOUR cost, not the price you sell items to your customers.
Count all READY TO SELL items and record that count for each item you sell.
Count all MATERIALS that are PART OF what you sell. Include counts for EACH material and/or component
Complete Year End Inventory no later than January 1, 2019. If you don't have your cost handy, you can always research that part later.
If you sell tangible goods, it very likely you have also collected sales tax from your customers. This must be paid to the State of Wisconsin by January 31, 2019. However, sales tax is not part of your income tax return process. Sales Tax is paid separately.
You will need a My Tax Account login from Wisconsin. If you don't have this, you can click the button above to register for one.
If you need help with any part of the process, please schedule a separate Discovery Session with JDBC.