Choosing the right QBO edition

Depending on the edition, QBO can be ideal for anyone from solopreneurs and freelancers all the way to mid-to-large-sized businesses. If you tend to hire 1099 contractors, also known as independent contractors, QBO can help you keep track of payments made to contractors throughout the year. Since contractors are not employees of the business, you must provide a 1099 form at the end of the year to any contractor you have paid $600 or more to in the calendar year. If you have questions about who qualifies as a contractor for 1099 filing purposes or need assistance with selecting the right QBO edition, please reach out to a qualified tax professional. A great resource to locate someone in your geographical area is Intuit’s Find An Accountant directory:

https://quickbooks.intuit.com/find-an-accountant/

The needs of your business will determine which edition of QBO is ideal for you. The following provides some additional insight into the ideal...