Many entrepreneurs and small business owners use GoDaddy as their preferred web host and domain registrar. You might be wondering if GoDaddy delivers 1099 forms to its clients as tax season draws near. Here are some essential details regarding GoDaddy and 1099 forms, along with solutions to other often asked tax problems.
No, GoDaddy does not provide its clients with 1099 forms. This is due to the fact that GoDaddy is not required to provide these papers until it has made payments totaling at least $20,000 and completed at least 200 transactions on your behalf throughout the tax year in question. In the absence of these requirements, GoDaddy won’t send you a 1099 document.
You can ask for a 1099 form from GoDaddy by getting in touch with the company’s customer care staff if you meet the requirements for one. They will be able to help you acquire the records you need for tax purposes.
No, if your earnings are $500 or less, you do not require a 1099 form. You must still declare this income on your tax return, though. In general, no matter how much you earn via self-employment or working as an independent contractor, it is taxed.
If a customer sent you a 1099 form, it means that they made a minimum payment of $600 during the relevant tax year. For tax reporting purposes, independent contractors, freelancers, and other self-employed people must complete this form.
An employer or client must issue you a 1099 form if you requested one by January 31 of the year following the tax year in question. Therefore, if you received money in 2021, you must receive your 1099 form by January 31st, 2022, if you did.
In conclusion, unless a customer meets specific requirements, GoDaddy does not deliver 1099 forms to them. It’s crucial to keep in mind that any income derived from independent work or self-employment is taxable and needs to be declared on your tax return. It’s always a good idea to speak with a tax expert if you have any concerns about your tax obligations.