Don't wait for a 1099 to know your income. Track all payments and expenses yourself throughout the year. A personal profit-and-loss statement keeps you honest and prevents tax surprises.
Do I need to worry about a 1099? No. And yes. So we're less worried. You should be less worried about 1099 and more worried about making sure you're tracking the income you make. We will have clients. I've seen this over the many years I've been doing this, decades even. It's like, hey, we're ready to file your tax return. And the response is, I need to wait till I get my 1099 because I don't know how much money I made. That is a level of irresponsibility that you don't want to have. You don't want to rely on the 1099 to know how much money you make. So keep track of payments, income received. Honestly, we call it in our space a profit and loss statement. If you want to think about it as keeping track of all the income that came in and then all the cash flow and expenses that went out, that's fine, but that is effectively a profit and loss statement.
