What You Need To Know About 1099s For 2025

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Get ready as Toby Mathis breaks down everything you need to know about 1099s for the 2025 filing year.

Joined by tax supervisor and accountant Troy Butler from Anderson Business Advisors, this episode covers what 1099s are, why they exist, and who is required to send them.

We walk through the different types of 1099s, dollar thresholds, vendor forms, and common mistakes business owners make.

You'll also learn how payment methods like credit cards, PayPal, or Venmo impact your reporting requirements.

Plus, we dive into the updated 1099-K rules, important deadlines, penalties, and best practices to stay compliant. If you want to avoid IRS headaches this year, this is a must-watch.

Show Notes:
0:00 – Intro
1:20 – What is a 1099 and why does it exist?
3:23 – Main types of 1099s (NEC, MISC, INT, DIV, S, K)
6:51 – Who has to send a 1099? (Landlords, businesses & contractors)
8:13 – The crucial W-9 form & onboarding your vendors
10:04 – 2025 1099 dollar thresholds & upcoming 2026 changes
11:16 – Do I have to send 1099s to corporations? (Plus Zelle & exceptions)
14:02 – Paying via credit card, PayPal, Venmo & crypto – 1099 or 1099-K?
16:28 – The 1099-K rule under the “one big beautiful bill”
18:31 – 1099 deadlines & filing dates (NEC vs MISC)
22:21 – Best practices: W-9s, bookkeeping, e-filing & record retention
24:32 – Outro
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at https://aba.link/tobyaba
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The information provided in this video should not be construed or relied on as financial, investment, or legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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