1. Finance

Get guidance about filing W2 and 1099 together.

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Millions of Americans pay taxes every year and file different tax forms as per their business and jobs. Paying taxes is a duty of every citizen, and no one should be negligent in this duty. If you are sincere about paying taxes, it shows your patriotism and love for your country. In simple words, paying taxes on time and without any fraudulent activity shows that you care for your country’s economy. Sometimes, paying taxes becomes a nerve-wracking task. You have to complete complicated documentation procedures that aren’t what all love or like. The same is the case of filing w2 and 1099 together. This scenario occurs when you are doing a 9 to 5 job to meet your expenses. But it is not fulfilling your requirements, so you start a side hustle like selling art on ETSY or being a freelancer. In this case, you have to file both of w2 and 1099 tax forms because of government legislation. First, we will know more about both of these forms below:

What Is A 1099 Form?

Created by Internal Revenue Service, this is one of the most common and important tax filing forms. You have to fill out this form if you are doing any side hustle and generating additional income other than your employment. This form works as evidence that you are earning additional income and paying taxes on it other than your main job.

For example, if you are a freelancer, you are likely to fill out a 1099 form for each of your projects, generating income of $600 or more. You can generate this form on your own as well, but you have to pay taxes for each project you complete.

What Is a W2 form?

This form is also one of the most used tax filing forms. It is used to report wages paid to an employee. This form also shows the evidence of taxes that are deducted from the wages of employees. An Employer is required to give a W2 form to employees to report the last year's earnings. The rule is the same as the 1099 form. If an employer gives you $600 or more, he must have to send you a w2 form as well for proper tax filing.

Whether you file taxes from both forms, there is nothing to worry about. You can get help from the San Diego tax service to carry out all the accounting and documentation procedures for you to file both forms at the same time.

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