What’s the big deal about 1099s—and why should small business owners care?
In this episode of Kaizen Time, Mark sits down with Pierre to get real about how 1099 forms help your business stay compliant and keep more of what you earn. From cash payments under the table to missing W-9s, they cover the common ways small businesses get it wrong—and what the IRS is looking for.
Here’s what you’ll learn:
Why issuing 1099s isn’t just a formality—it protects your deductions
What happens when you don’t collect W-9s up front
How the IRS tracks underreported income—and puts you on the “small pile”
What the backup withholding requirement means for you
Simple steps to stay off the audit radar
Whether you’ve been avoiding 1099s or just want to clean up your process, this episode gives you a no-nonsense look at how to protect your business and avoid penalties.