eBay Tip # 16 – Need to File IRS 1099-MISC Forms?

How to Send a 1099-MISC


If you are an online seller, you may have a need to send a 1099-MISC form at some point.

  • Please be aware, I am not a tax expert and I am not giving tax advice.
  • I am writing about an online product that has helped me get through this process.

Yearli by Greatland Review


Yearli by Greatland for filing 1099-MISC

If you are a do-it-yourselfer, Yearli by Greatland might be right up your alley. It is extremely user-friendly!

I’ve used it for the past few years during the month of January when the forms need to go out!

My needs may be different from yours, so please consult your tax professional.

  • I am a consignment seller and send a 1099-MISC to my clients that have received payments of $600 or more for sales I have made for them.
  • I also have sent 1099-MISC to my contract workers when they have helped with my eBay listings.

Who Gets a 1099-Misc?


  • You must give a 1099-MISC form to any individual or business your business paid $600 or more in a tax year.
  • That form is given to non-employees such as independent contractors and other entities paid by your company.
  • NOTE: You only need to report payments you made in the course of your business. Personal payments are not reportable.

 

File Form 1099-MISC for each person to whom you have paid during the year:

  • At least $10 in royalties or broker payments in lieu of dividends or tax-exempt interest.
  • At least $600 in:
    • Rents.
    • Services performed by someone who is not your employee.
    • Prizes and awards.
    • Other income payments.
    • Medical and health care payments.
    • Crop insurance proceeds.
    • Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish.
    • Generally, the cash paid from a notional principal contract to an individual, partnership, or estate.
    • Payments to an attorney.
    • Any fishing boat proceeds.

In addition, use Form 1099-MISC to report that you made direct sales of at least $5,000 of consumer products to a buyer for resale anywhere other than a permanent retail establishment.

Before You Send out a 1099-MISC Form


Before you give anyone a 1099-MISC form, you must first get a W-9 form from that person, verifying their taxpayer ID number or social security number. You cannot accept the person’s information informally.

If your business is audited, you will need to be able to show a W-9 form for everyone who did work for you.

NOTE: Check with your tax professional if you have concerns with sending someone a Form 1099-MISC.

Simple Steps with Yearli by Greatland


Yearli by Greatland is a complete federal, state, and recipient W-2, 1099 and 1095 filing programs. Simply enter or import your data and Yearli will file to the federal government, applicable state agency and send (via email and mail) copies to your recipients.

FREE Option is for ME!


Yearli has three options designed to fit your budget and business needs. Use their compare rates and pricing chart to see what works best for your business.

I use the Free option for the 1099-MISC forms I send and file. I have not needed to send more than seven in one tax year.

  • Core – Free
  • Performance – $99
  • Desktop – $439

Simple, Easy and DONE!


Today is January 16, 2020, and I logged into my Yearli by Greatland account. Here’s what I saw:

Yearli by Greatland is for filing your 1099-MISC

I clicked on Start New Forms and chose Data Entry.

Yearli by Greatland is for filing your 1099-MISC forms

Next, I chose 1099-MISC.

Yearli by Greatland is for filing your 1009-MISC

Fill in info. You are Payer and your client is Recipient. I used Line 7 for Non Employee Compensation and click Save.

Next you File, make a small payment. In my case I sent two forms this morning for a total of $9.98. Now, that’s a great deal.

Form Filing History


You can see your account history and print copies for business records at any time! Log out and you are DONE!

Yearli by Greatland is for filing your 1099-MISC

My Z Rating


On my scale of the “Z” Rating with 5 being the highest and 1 the lowest, I give Yearli by Greatland a solid 5 ZZZZZ’s for all that it offers consignment sellers/businesses.

As a solo-prenuer online seller and a serial do-it-yourselfer I would be lost without it. The cost is small. It takes no time at all. It was literally five minutes for me to create and file two 1099-MISC forms this morning.

Try it FREE today using my referral link. Share your experiences below.

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Cross Post-it Review

Can You Sell Something for Me?


When I mention to people that I sell on eBay, one of the first questions I get asked it what do I sell?

I answer: “Anything I can put into a box and ship”.

Next they ask me if I would be interested in selling things for them.

I answer: “Sure, what do you have?”

The problem with that question, is that I’ve gotten myself into many pickles because I sometimes get too many consignment clients at one time and it becomes overwhelming.

I Am A One Woman Show


I am a one person show right, and I have to keep track of all the sales I make for my consignment clients. Luckily one of my biggest helpers is the software called “Cross Post-It”. It is a web based software for people like me that sell on eBay and other online platforms. It helps me to list, ship, track packages and handle bookkeeping for my clients from my computer as long as I have internet service.

I can set the commission I make from each sale from each of my clients. (I usually take a 50% cut from my sales.) It gets real time feeds directly from eBay, so that when a sale happens, it records it by item number, client name or any number of sorting techniques. Every product I enter has its own unique ITEM # and so it’s fool proof as far as what is what.

And if I have trouble locating where I’ve put that item as I wait for it to sell, it has a blank line where I can fill in exactly where it’s located in my eBay office. That feature has been a life-saver to me many, many times.

Cross Post-It Keeps Track For Me


There are so many reasons why I love Cross Post-it. The best feature has to be the ease it provides when paying my clients. It allows me to use PayPal or print a check with my printer. It will add up all the sales, less commission or any other fees and print a line item inventory sales record for my client and copy for myself too. It keeps track on check numbers and make reconciliation super easy, especially for people like me without a bookkeeping background. All the info I need is one spot online.

Best Tool Out There for Consignors


I have reached almost 6000 items entered into my data base for my over 120 clients. I can keep notes about each client, like who referred them to me, contact info and miscellaneous info like pick-up and meeting times with my clients and new items they want me to sell for them. Cross Post-it has helped my consignment business immensely.

One day last fall, I received a call from their marketing staff and was asked to share some thoughts about Cross Post-it. I am honored to share it below. If you have an interest in selling on consignment and you want a robust software to help you navigate keeping track of your sales and payments, then Cross Post-it is definitely for you. I am so glad not to have a hassle with spreadsheets and files that are misplaced and hard to keep track of. Please let me know if you are interested and I can introduce you to the product.

Anne Z Shares Her Thoughts About Cross Post-It


My “Z” Rating


On my scale of the “Z” Rating with 5 being the highest and 1 the lowest, I give Cross Post-It a solid 5 ZZZZZ’s for all that it offers consignment sellers/businesses. Share your experiences below.

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