Connect with us

Technology

1-800Accountant Data Shows Nearly 1 in 3 Independent Businesses Spend More Than They Earn

Published

1 hour ago

on

The inaugural 1099 Earnings Report benchmarks revenue and expenses across 31 industries and finds a sharp divide between service work and product-based businesses.

NEW YORK, June 26, 2026 /PRNewswire/ — Independent work is usually measured by how many people do it, not by what they earn. A new report from 1-800Accountant, America’s leading virtual accounting firm, takes the opposite approach. The 1099 Earnings Report analyzes self-reported revenue and expense data across thousands of 1099 businesses, freelancers, and independent contractors, then ranks the results by industry the way a quarterly earnings report ranks a market. The finding that stands out: in 10 of the 31 industries measured, the typical business reports more in expenses than in revenue, meaning it runs at a loss on paper.

1-800Accountant’s latest report shows one in three 1099 industries spend more than they earn.

The report points to a clear split between two kinds of work. Knowledge and service industries earn more and keep more of what they earn, while product and inventory industries earn less and spend more to do it. Across all 31 industries, typical revenue and the expense ratio carry a strong negative correlation of -0.82, meaning the businesses that bring in the most also tend to retain the most.

Who Comes Out Ahead, and Who Falls Behind

At the top of the table, Wholesale and Distribution leads with about $77,000 in typical revenue against $20,300 in expenses, the widest margin of any industry measured. Healthcare, Construction, Engineering, and Insurance round out the leaders, each keeping roughly 45 cents or more of every dollar earned. The bottom of the table tells the opposite story. Apparel, Publishing, and E-Commerce all report median expenses well above median revenue, with the typical apparel business spending close to $4.00 for every $1.00 it brings in. The dividing line is largely inventory and production. Businesses that buy, hold, or manufacture physical goods carry costs whether or not the goods sell.

A Steady Floor or a Long Shot

The gap between typical and top earners follows the same pattern. In steady service fields such as Animal Services, top earners make about four times the typical operator. In Publishing, they clear roughly 144 times. Product industries produce a few large winners above a wide base of very small operators, while service and trade work offers a higher and more reliable floor.

“Earning well and keeping what you earn are two different things,” said Mike Savage, Founder and CEO of 1-800Accountant at 1-800Accountant. “For product-based businesses especially, expense discipline and accurate bookkeeping are often the difference between a profitable year and a paper loss. The operators who track expenses as closely as revenue are the ones who turn independent work into durable income.”

The full 1099 Earnings Report, including the complete industry table and methodology, is available on the 1-800Accountant blog.

About 1-800Accountant

1-800Accountant is America’s leading virtual accounting firm, combining technology with experienced professionals to make accounting accessible and affordable for small business owners, entrepreneurs, freelancers, and independent contractors. The firm provides year-round support that includes bookkeeping, tax preparation, tax advisory, payroll, and entity formation. 

Contact: Wyatt Johnson

Content Manager, 1-800Accountant

920-807-9159 | media@1800accountant.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/1-800accountant-data-shows-nearly-1-in-3-independent-businesses-spend-more-than-they-earn-302812272.html

SOURCE 1-800Accountant

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

In HelloNation, Midland Chamber of Commerce President & CEO Evan Thomas Highlights the Opportunities of Midland, TX

Published

25 minutes ago

on

June 26, 2026

By

The article highlights the blend of economic opportunity, quality of life, and community engagement that makes Midland a destination for families and professionals.

MIDLAND, Texas, June 26, 2026 /PRNewswire/ — What makes Midland one of the most attractive places to live and work in West Texas?

HelloNation has published an article that provides the answer by exploring the factors that continue to draw residents, businesses, and families to this growing Texas community.

The article features insights from President and CEO Evan Thomas of the Midland Chamber of Commerce and explains why Midland, TX, has earned a reputation as a place where opportunity and quality of life work together. Known as the Tall City, Midland continues to attract people seeking professional growth, strong community connections, and long-term success.

The HelloNation article explains that one of the first things newcomers notice about Midland is its energy. That energy is reflected not only in the local economy but also in the people who call the community home. With a relatively young population, Midland offers an environment where innovation, ambition, and growth are part of everyday life. Families, entrepreneurs, and professionals all contribute to the future of the City.

Career opportunities remain one of the primary reasons people relocate to Midland. The article notes that Midland serves as an important economic hub for the Permian Basin and West Texas and supports a broad range of industries. While the region is widely recognized for its leadership in oil and gas production, career opportunities extend well beyond that sector. Healthcare, education, retail, construction, professional services, recreation, and entertainment all contribute to the area’s economic strength.

Midland continues to attract businesses that value its workforce, entrepreneurial culture, and strategic location. According to the article, these strengths help support investment, expansion, and ongoing economic development throughout West Texas.

The article also emphasizes the area’s quality of life. While career opportunities often bring people to the community, many discover a city making significant investments in its future. Midland’s downtown, anchored by Centennial Park and the Barbara & George H.W. Bush Convention Center, has become a centerpiece for community activity, while continued investment in parks, public schools, infrastructure, mixed-use developments, and athletic facilities is helping position Midland as a regional destination for youth sports and family recreation.

Another factor that distinguishes Midland is its welcoming atmosphere. New residents often find a community eager to support growth while maintaining meaningful personal connections. Whether someone is relocating for career opportunities, launching a business, or establishing roots for the first time, Midland provides opportunities to become involved and build relationships throughout the community.

Growth continues to play an important role in Midland’s future. According to the article, expanding industries, new businesses, and ongoing community investment support a positive outlook while preserving the qualities that make the City unique. A strong work ethic, commitment to opportunity, and emphasis on community remain central to Midland’s identity.

The article concludes that Midland continues to stand out because it combines energy, career opportunities, healthcare access, quality of life, and community engagement in a way few communities can match. For individuals and families considering a move to West Texas, Midland offers a compelling blend of opportunity and livability that continues to shape its future.

Welcome to Midland features insights from Evan Thomas, President and CEO of the Midland Chamber of Commerce, in HelloNation.

About HelloNation

HelloNation is America’s Good News Network, a premier media platform built on the idea that good news travels faster when real people tell real stories. Through its community-focused publications and innovative “edvertising” approach, HelloNation delivers content that informs, inspires, and spotlights the leaders making a meaningful impact in their communities.

View original content to download multimedia:https://www.prnewswire.com/news-releases/in-hellonation-midland-chamber-of-commerce-president–ceo-evan-thomas-highlights-the-opportunities-of-midland-tx-302812303.html

SOURCE HelloNation

Continue Reading

Technology

RTX Board of Directors Declares Quarterly Cash Dividend

Published

25 minutes ago

on

June 26, 2026

By

ARLINGTON, Va., June 26, 2026 /PRNewswire/ — RTX (NYSE: RTX) announced today that its board of directors declared a dividend of 73 cents per outstanding share of RTX common stock. The dividend will be payable on September 3, 2026 to shareowners of record at the close of business on August 14, 2026.

RTX has paid cash dividends on its common stock every year since 1936.

About RTX
With more than 180,000 global employees, we push the limits of technology and science to redefine how we connect and protect our world. With industry-leading capabilities, we advance aviation, engineer integrated defense systems for operational success, and develop next-generation technology solutions and manufacturing to help global customers address their most critical challenges. The company, with 2025 sales of more than $88 billion, is headquartered in Arlington, Virginia.

Cautionary Statement Regarding Forward-Looking Statements
This release includes statements related to dividends that constitute “forward-looking statements” under the securities laws. All forward-looking statements involve risks, uncertainties and assumptions that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Past dividends provide no assurance as to future dividends. The timing, payment and amount of future dividends, if any, could vary significantly from past dividends due to a number of risks and uncertainties. These factors include those described under the caption “Risk Factors” in our reports on Forms 10-K, 10-Q and 8-K filed with the SEC from time to time.

Media Contact
C: 202.384.2474

Investor Contact
C: 781.522.5123

View original content:https://www.prnewswire.com/news-releases/rtx-board-of-directors-declares-quarterly-cash-dividend-302812108.html

SOURCE RTX

Continue Reading

Technology

Media advisory – Canada and Germany to strengthen collaboration on semiconductors

Published

25 minutes ago

on

June 26, 2026

By

MONTRÉAL, June 26, 2026 /CNW/ – Carlos Leitão, Parliamentary Secretary to the Minister of Industry, and Stefan Rouenhoff, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy of Germany, will announce deeper cooperation on shared priorities in the semiconductor sector. The announcement will take place on the margins of the IEA Annual Global Conference on Energy Efficiency, and a photo opportunity will follow.

Date: Monday, June 29, 2026

Time: 5:30 pm (ET)

Location: Montréal, Quebec

Members of the media are asked to contact ISED Media Relations at media@ised-isde.gc.ca to receive event location details and confirm their participation.

Media must register in advance by filling out the conference registration form.

Stay connected

Find more services and information on the Innovation, Science and Economic Development Canada website.

Follow Innovation, Science and Economic Development Canada on social media.
X (Twitter): @ISED_CA | Facebook: Canadian Innovation | Instagram: @cdninnovation | LinkedIn: Innovation, Science and Economic Development Canada

SOURCE Innovation, Science and Economic Development Canada

Continue Reading

Trending