Tips of the Month - January, 2008 QuickBooks To print 1099 Forms: Make sure that 1099 preference is turned on Go to: Edit      Preferences      Tax: 1099 (Company Tab)      “Do you file 1099 Misc Forms” check the Yes circle For each Box on the 1099 form you must choose your account where the information will be found, to be included on the form. For example, if I pay subcontractors from my account “Sub Contractors” this is the account that has to be included in the account column. Click on the right side of the account column and the drop down arrow will appear.  Choose your account or you can choose multiple accounts. Click OK. Do not change the amounts.  These are IRS regulated amounts. To Print Forms: Go to: Vendors      Print 1099’s      Run Report verify all information and make any corrections      Print 1099’s      Print 1096 TAX When taking the standard mileage rate as a tax deduction, additional deductions include tolls, parking, and interest. The standard mileage deduction for 2007 is 48.5 cents per mile. You can not use the standard mileage rate for vehicles being depreciated, or for which a Sec. 179 deduction has been taken or for more than four (4) vehicles used simultaneously. Read More Tips of the Month:

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