Have questions about your HoneyBook 1099 tax form? You’ve come to the right place.
What is a 1099?
What is a 1099?
A Form 1099 is a series of IRS tax forms used to report various types of income received by individuals other than traditional wages, salaries, or tips. There are different variations of Form 1099, each designated for specific types of income. HoneyBook will be issuing both 1099-K and 1099-NEC forms to those who meet the below thresholds.
Why am I receiving a 1099?
Why am I receiving a 1099?
If you received a 1099, you met a US minimum income threshold for payments received through HoneyBook (1099-K) or referral bonuses paid (1099-NEC). Here are the thresholds:
1099-K: You processed $20,000 in payments in HoneyBook across 200 or more transactions
Some states have lower 1099-K thresholds than the IRS for 2023. If you earned income in the states below and the amount earned is above the listed threshold, HoneyBook will file and provide a 1099-K.
Missouri: $1200
Illinois: $1,000 and 3+ transactions
District of Columbia: $600
Maryland: $600
Massachusetts: $600
Vermont: $600
Virginia: $600
1099-NEC: You earned $600 or more in HoneyBook referrals
What payments are included on a Form 1099?
What payments are included on a Form 1099?
1099-K: All payments processed in HoneyBook via Stripe. Payments marked as paid, refunds, discounts, and credits aren't included the calculation for your 1099-K
1099-NEC: HoneyBook referrals
What information do I need to provide to receive my 1099?
What information do I need to provide to receive my 1099?
Filing as an individual: Confirm your SSN and personal legal name as on record with the Social Security Administration
Filing as a business: Confirm your EIN and business name as on record with the IRS
Why didn’t I receive a 1099 in 2022?
Why didn’t I receive a 1099 in 2022?
In 2022 and years prior, 1099-K forms were only required by the IRS for those who processed over $20,000 in payments AND more than 200 transactions.
What do I do with a 1099 form?
What do I do with a 1099 form?
HoneyBook will file this form on your behalf to the IRS on January 31st, 2024. The form can be downloaded in HoneyBook, and you will need this form to file your 2023 income taxes.
How will my form be delivered?
How will my form be delivered?
HoneyBook will be delivering the forms electronically from within HoneyBook. If you wish to have a paper copy mailed to you, you will be able to request that once the form becomes available in January 2024.
To retrieve your form:
1. From anywhere in the platform, select your profile → Company Settings.
2. In the left menu, select Tax Information.
3. Download your Form 1099.
How do I change the name, address or tax identification number (EIN/SSN) on my form?
How do I change the name, address or tax identification number (EIN/SSN) on my form?
Reach out to HoneyBook's support team to make any edits to your Form 1099! Once the change is made, you can retrieve the newly generated form.
What if the amount on my form is incorrect?
What if the amount on my form is incorrect?
The information on the form is taken directly from our payment processor, Stripe. It can be cross-referenced with your payments report. Go to Tools → Reports and select Download Reports. Set the date range for the year 2023, and download the Payments Completed report.
Keep in mind, the form does not account for refunds, credits, discounts and uses the gross amount (i.e., before deductions) processed through HoneyBook. It also will not include anything “marked as paid” or processed outside HoneyBook.
If you discover a discrepancy in your report vs your form, contact our support team.
Still have questions? Feel free to send us a message by clicking the Question Mark icon on any HoneyBook page. Our team is always happy to help!