Employment is changing. More individuals are opting for being self-employed, freelancing, or solopreneurship. As a result, it’s increasingly common for workers to receive both a Form W-2 for employment and a Form 1099 in the same tax year. Navigating the complexities of filing both a W-2 and 1099 together can be challenging.
Let’s look at how to file 1099 and W2s together, including key points to consider, the differences between these small business tax forms, and guidance on accurately reporting and filing taxes for different income types.