1099 questions

1099 questions... :-)?
I was wondering if anyone knew what kind of return ill be looking at? im gonna be 1099 this year and ive made about 10,000 Dollars I have 2 kids and plan on claiming them....

viajero_intergalactico:cool thing is you did not make that much (for tax purposes only). so you wont owe too much. now , im no tax specialist but i do know you were supposed to pay at least 90% of the tax on those 10K during the year as you earned it. ( unless you earned all of it during the last three months) with the... More...

1099 question regarding debt forgiven: I have a client who owned his house for 4 years, rented it 6 months?
ago, needs to do a short sale on it - or it may become a foreclosure. What time period is it that the IRS will say it's his personal residence for that debt forgiven legislation that just passed that says the IRS will not 1099 him if it was his personal residence?...

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1099 Filing Questions?
I just took on a part time second job as a subcontractor delivering newspapers. The job pays 380 a week with a gas reimbursement that varies considering what gas prices are. At the moment is $25-30 dollars a week. Do I have to pay taxes on the gas reimbursement? Also, can I file and pay taxes every quarter with a 1099? (i'd rather pay the taxes over having to worry about owing money come April). I have no idea if this second job will put me in a different tax bracket either I'm currently in th...

Judy1:Assuming you're single, most of the second job would be taxed at 15% for income taxes, plus another 15.3% for self-employment tax. You'll show the income and any allowable deductions on a schedule C or C-EZ for the 1099 income. You'll be able to deduct mileage, so keep track of it. You'll show the ... More...

1099 Misc Questions and W9 Form questions?
1099 Misc Questions What is the name of your state (only U.S. law)? NJ I will be giving out alot of expensive online freelance work (>$600) and have a few questions. 1)Am i allowed to ask them for there tax id number online instead of mailing them a w9form? 2)Am i allowed to put a PO box for my address on the w9 form and put my business name as my name on it? 3)Am i allowed to put a PO box for my address on the 1099misc form and put my business name as my name?...

StephenWeinstein:1. You need more information than just their tax ID number, but you "may establish a system for" them "to submit Forms W-9 electronically" See requirements at the end of this answer. 2 and 3. Only if the business is paying them. Not if the payments are from you personally and not from the busine... More...

Can you legally pay a regular employee as an independent contractor? 1099 question?
I am a regular employee that pays all of my taxes...ALL of 'em. I have a boss. He finds the jobs. He bids the jobs. He makes the calls on how to build stuff (I am a marine carpenter). He pays me, and has done so steadily for two years. I have to have liability insurance. If I get injured, I think I'm screwed...I have no personal insurance. How good of a deal is he getting by paying me as an independent contractor? And again, is this legal?...

PacificHR S:he's saving on Social Security, medicare, federal taxes, state taxes, and biggest, and most importantly, insurance, both liability, and workers comp. It's legal, if you can honestly be described as an independent contractor. to check up on this, visit the posted website I'm included, and try to d... More...

1099 contractor questions?
I recently started working for a marketing company which involves me to do D2D sales which is pretty good money. I am considered a 1099 for the company but they do not pay anything but the uniform they gave me. on a daily basis I would drive up to 100 miles that is job related. I am in college and I have no idea what to do as far as filing taxes where the 1099 is involved, so what can I do as far as claim and taxes?...

StephenWeinstein:On Schedule C or Schedule C-EZ, you claim the use of your vehicle for business EXCLUDING commuting. (You are not allowed to claim use of your vehicle for commuting. Your profit (the amount on your 1099, minus expenses that you can claim) is subject to regular income tax, and goes on the business i... More...

Questions on 1099-MISC?
We own a small business. We are in the process of preparing for taxes. Couple of questions on 1099. 1. Do we need to issue a 1099 to a car repair shop towards repair expenses of our company car (expenses > $600)? 2. Our payroll was handled by a payroll service company. Do we need to issue a 1099 (expenses < $600)...

Anna S:1. If the repairs are paid to an individual (not a corporation) and the repairs were labor intensive (i.e., the parts were incidental to the repairs), then yes a 1099 is required, otherwise, no 2. Since the amount of the services was less than 600, then no, a 1099 is not required (yes if the total... More...

1099 tax question New Job not sure how to keep track of everything and how to figure out what tax bracket I am
in. I just started a new job as a contract employee. My questions are 1- How do I know which tax bracket I am in 2- How do I figure out how much of my pay to put aside for next years tax time 3- Do I need to keep track of every penny in order to do this, some of my pay comes in the form of a check, but the majority of it is cash. Thanks for the help....

Cat:Keep track of all income. Keep track of all expenses. Keep track of all miles you drive that are related to the business (outside of the commute),,,note the date, where you went & reason, and the milage. Roughly 15% of your net profit comes off the top to social security tax (or "self-employment t... More...

1099-MISC related questions?
I have c-corp registered in NV and I used lot of Internet based freelancers and consultants in 2008. I read about issuing 1099-MISC to those whom I paid over $600 in a given year. In a related note, I have following questions: (a) What do I need to report if freelancer/consultant is offshore resource (India based) (b) For US based consultants, how would I generate 1099-MISC? Can I download form from IRS site and issue them to those consultants? Do I need to have a professional accountant or cert...

v b:a) The consulting work that *wasn't* physically done in the US by people who aren't US Citizens or US residents is NOT reported to the IRS. However, you need to create a contract that confirms this. "Under penalties of perjury" the person did the work in India and is NOT a US citizen or US Residen... More...

1099-misc question. Can I sponsor a soccer team and advertise my business? Will I be able to claim as a loss?
I am an actor- not as a full profession. Just looking for ways to advertise my services and claim as a loss on my taxes....

ninasgramma:Money you give to a nonprofit soccer league, which is considered a charity by the IRS, to sponsor their activities would be a charitable donation that would go on your Schedule A. If you purchased advertising space, those costs are deductible as advertising. Sounds like you are making a charitab... More...

Child Care - Tax Questions (1099 or W2)?
I have a child care provider who works in our home (with her child and our two kids). 2008 is the first year of service - total billing around $5,000. Payments were made via checks and reimbursed through my employers FLEX SPENDING plan. (Forms were filled out including the provider's Soc Sec #, etc.). It is now the year-end - DO I NEED TO PROVIDE A 1099? Or a W2? (If it is a W2 - do I need to pay taxes on the provider's wages? If so, what, to whom and when?) Any information would be appr...

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1099 a question on workers compensation and expenses?
Thanks for your answers! Do you pay interest on workers compensation (unemployment) checks? Do you have to have receipts for all of your work related expenses in order to receive a tax deduction? Thanks again!...

Judy1:I'm confused by what you are asking. Worker's comp is for on the job injuries, and is totally different than unemployment comp. Unemployment comp benefits are taxable, workers comp benefits aren't. You don't pay interest on either one. You should have receipts for anything you are claiming as a ... More...

1099 question for a mortgage loan?
im selfemployed and on my 1099 is $44,137.00. do the lenders look at whats on my 1099 or whats left after my taxes and biz expenses? started doing my taxes online (late as hell) and when i put in biz expenses it showed me grossing $22k. the loan im applied for needs me to gross around $40k. if i dont write off biz expenses ill have to pay $16k in taxes. i can def afford the mortgage because ive got other unclaimed income....

PepsiLime:What the lenders will ask you for is a copy of your tax return, and being self-employed they might also want a copy of your schedule C. And what they will look at will really be your net income on the business. As far as the other unclaimed income goes, if you don't get a 1099 or anything that requi... More...

1099's a few questions?
ok question again with a bit more research done, a few questions in one... here goes nothing!! ok self employment taxes are from gross right? this is before you 1099 people that have actually worked under you? also what can be done about this honest opinion, eric my hubby works only for one company can not do side jobs. does not bid nor can negoiate prices, company he works for pays wc and gl, he does however take his truck to job sites and gets paid by the square foot. should he be 1099ed or ha...

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Question about 1099 and amount of income earned?
Can I pay a commission employee $599 this year and not worry about sending him/her a 1099 tax form next January?...

forsythia75:Commissioned *employees* need W-2s no matter what amount you pay them. If you really meant a commissioned *independent contractor* than no. Not until you pay them non-employee compensation of $600 or more. However, since you are confusing the contractor vs. employee issue in your question - I ser... More...

I have recently transitioned from a full time employee to a 1099 contracted employee. Unemployment an option?
My company has recently terminated 6 of their 9 employees. We have been give the option to be 1099 contractors. My question is, are we then eligible for unemployment benefits?...

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questions about 1099 and w9?
OK my hubby owns his own business, first year! now i know he has to 10-99 his workers but do they have to fill out a w9 also? see this is how it works, he is a sub contractor (works solely for one contractor, and has two emloyees, now what?...

bostonianinmo:He needs to get a W-9 from his subs BEFORE he pays them anything! If they refuse to provide their TIN (usually their SSN) then he MUST withhold taxes at 28% from all funds paid to them and hand that over to the IRS. He must prepare a Form 1099 for each sub that he paid $600 or more in any tax year... More...

form 1099-B TAX question: if you bought 1000 stocks on one day and sold it on different days?
like one day 700 and next week 300 shares ; then how to reflect it on 1099-B its asking for date, should u put VARIOUS or should you put the exact date, (because they all were purchased on one day)...

efflandt:It seems clear in 1099-B instructions: "Transactional/aggregate reporting. Report each transaction (other than regulated futures or foreign currency contracts) on a separate Form 1099-B. Report transactions involving regulated futures or foreign currency contracts on an aggregate basis." The dat... More...

1099 Question...I am being paid on a 1099, what percentage should I put aside for the IRS to take back??
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bostonianinmo:15.3% for Self Employment tax + a sufficient amount to cover your State and Federal income tax liability. How much you need to set aside for income tax depends upon your income. You don't just need to put it aside, you need to make quarterly payments to the IRS using Form 1040ES. If you don't m... More...

Question about SSA-1099 form & filing Tax. Does my DAUGHTER file a return, or me? She is 14 & my dependant?
My daughter is 14. She has been recieving death benefits from her father's death in 2007. I am filing my taxes. However, on the SSA-1099 it doesn't show MY social security number as the income received, but HERs. My question is, do I file this under MYSELF or do I file a seperate return for her?...

busymomkaren:Most death benefits are not taxable to minors. You do not have to claim it on your taxes and it is not taxable to her unless your daughter has other income that will put her over the thresh hold (very unlikely). If you are unsure, then you can call the Social Security office and they will help you. ... More...

1099 form and independent contractor questions ?
my husband has been laid off for a few months and he cannot find a job.. however I found a job for him online but its as a independent contractor it doesnt pay much but hey its a job! hes currently receiving unemployment.. the job requires for him to use his social for tax puposes my question is he has to go through training in which he will not be paid for, so if he uses his social to fill out the 1099 form but is not getting paid yet should he report that to unemployment or should he wait till...

wartz:Is he going to be a real independent contractor or an employee misclassified as an independent contractor? Many unethical employers misclassify employees to avoid paying employment tax and workers compensation insurance. If the job "doesn't pay much" that is an indication that he is not really an ... More...

1099 miscllaneous reporting question?
I owned a LLC and provides consulting services for my client. However, this client (and the only client, a corpration) only issues 1099 to individual, not to LLC because It's my client's company policy. Can I just report all 1099 income, wiich issued to my, with my SSN, into my LLC (becuase this is indeed my LLC's income) tax return, not into Sch C in my indicidual tax teturn without any trouble from IRS? Thank you very much....

CPA/PFS:Actually, it's not just your client company's policy, it is the tax law. The tax laws only require that 1099s be sent to individuals. You are not required to send 1099s to any entity, such as an LLC, partnership, trust or corporation with it's own federal ID number (EIN). A single member LLC can ... More...

Questions on sending a 1099 form for income tax...?
If you pay someone before the end of the year, say date the check or whatever for Dec. 30th or Dec. 31st.....but they don't cash it until maybe January 4th or 5th...... Do you still send them a 1099 form....since you actually PAID it that year....regardless of when they actually cashed it?...

bostonianinmo:If you cut the check(s) at any time during 2007, you include the amount(s) on the 2007 Form 1099. When they actually cash the check is irrelevant.... More...

A few questions about 1099 Forms and how much I will actually be able to write-off? (Very detailed question!)
Please help! Warning: Very detailed question. Thanx in advance anyone that can help me. I live in Ohio, and I'm a sub-contracted Landscaper/construction guy. I receive a personal check weekly, drive my truck at work, hauling things and dealing with customers. I had lots of personal time off this year so I brought home about 11,000. First off how much will I owe on that? 15% would be 1650, is that right? I drove about 6,000 WORK miles of 6600 (90.09% work) on my new truck I bought in...

BigDog507:To correct what Steve said, if you use actual expenses the first year of use you must continue to use that method every year thereafter. If you use the Standard Mileage Rate the first year, then you are free to use whichever method you wish thereafter. I think I just read in some of our study materi... More...

IRS Form 1099-C... A few questions?
1) I know one of the exemptions for paying tax on a 1099-C is insolvency- what is insolvency and does it apply only to businesses or to personal taxes as well? 2) After the 1099-C is filed by the creditor can they continue to try to collect the debt?...

wartz:Insolvency means that your debts exceed all you assets, including ones that creditors can't seize, If you file bankruptcy, the cancellation of debt income is discharged. When the creditor cancels the debt, it is gone. If you ever have a debt collector threaten to issue a 1099C, you know they are ... More...

1099 question: Is it always required to file quarterly? . . .?
....or does it depend on the amount of the estimated TOTAL income for the year. i.e. If you make under $25,000 you need not file quarterly and if you make over that, you do. Is that the case? What's the story? THANKS!!!...

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TAX question... How do you file 1099-Misc income? Does that just go on your 1040 EZ?
TAX question... How do you file 1099-Misc income? Does that just go on your 1040 EZ? Also, because it was untaxed, does that mean I should expect a much smaller refund? Does it count against me because it was untaxed?...

Judy1:No, you can't use a 1040EZ if you have 1099-misc income. You have to file a schedule C or C-EZ, a schedule SE, and a form 1040 not 1040A or EZ. If you had other income and had taxes withheld from that, it's possible you'd still get a refund if you had too much withheld from the W-2 job. Otherwise... More...

A few questions about the 1099 tax form I recieved from my employer...?
I am a full time college student with a part time job working for one of my professors. I received a 1099-MISC from him, but I'm not sure what to do next. I usually get W-2's from my employers, so I have never dealt with this form before. I made $2,510 (that is the number in box #7 - nonemployee compensation), so am I still going to have to pay taxes on that or is there a minimum requirement that you have to meet? If so, how do I find out what the minimum requirement is and if I did meet it, how...

r_kav:File a 1040 with Schedules C-EZ and SE.... More...

1099 Self employment tax questions?
I had a regular job all year but I also worked as a freelance web designer and videographer all year (2007). I did lots of my work at home editing and designing. I made like $6,000 doing that the whole year. I did most of my work for 1 company and it was all contract work no taxes taken out just $20 an hour for whatever I did that was actually billable to a client. Anyway I have some tax questions. 1.Could I claim the mileage between my house and the office that I did contract work for? I went ...

bostonianinmo:1. Yes, that's deductible as a business expense on Schedule C along with the rest of your business expenses. 2. You can take a deduction for a home office if it is used EXCLUSIVELY for business use. ANY personal use would kill the deduction, even the occasional personal e-mail, recreational use... More...

Will I get 1099 form if I put payment on hold?
I have a question with 1099 form. I am in the process of forming an LLC. I do have some revenue from internet advertising (e.g. google adsense) right now registered under my SSN. Right now I put the payment on hold, therefore I haven't received anything from those advertisers. Will I still receive any 1099 forms from those unrealized/unreceived income? well, I did try to contact those firms, and it's endless waiting... that's why i am trying to ask here instead. Thanks! Thanks for the respon...

Shop4MyBiz.com:The 1099 is only given when they cut you a check. Since they haven't then you should be ok. If your LLC is already setup, the fastest way to get a Fed ID is to call the IRS at 1-800-829-4933... More...

Tax question.How do I declare income if I dont receive a 1099?
I m in the process of getting ready for taxes. I have some 1099 income what if I dont receive the 1099's do I file it as non 1099 income or do I need to file for an extension??...

freetronics:If you haven't received it, most likely the company didn't report it to the IRS. It has to be over a certain amount ($1500, i think) before companies are required to report it. If this is the case, don't put it down as income. If not, add up your pay stubs and use that amount or call the company ... More...

How much should I take out of my own paycheck for taxes on a 1099?
I live in FL and this is my first year working entirely on a 1099. I expect to make about 22k by december. How much can I expect to pay in taxes if I deduct the regular gas, gizmos, etc. amounts??? I know the answers to these questions are usually complicated with a lot of numbers, so the more straightforward the answer, the better. :)...

acmeraven:Florida; no income tax state. For purposes of federal you need to figure about 30% on the net. You know the gross of 22K; add up your expenses, mileage in 08 is 58 1/2 cents a mile, supplies, any other expenses, don't forget the cell phone of you use it for business. Here is an example: gross 22... More...

"tax home" question for a 1099 contractor?
Out of 20 business days a month while working as a 1099 contractor, if I worked more than half of those days at my home or home office, would my "tax home" thus be considered my home office? At what point does the IRS consider your actual home to be your "tax home?" Must you work more than 50% of the time from your home? Thanks!...

Pia M:Difficult question. May be you can contact a tax filing consultant at website like http://taxfiling.co.in/ .... More...

Question about who is eligible for 1099?
I've been told by my first controller that I worked with, that only the people who USE their SSN as their Tax ID are eligible for 1099? And I've been told by my second controller that its not true, there may be businesses that use their own business ID tax but are not corporations but LLC that are eligible for 1099 ? Who is right! Thank you!...

Buddy A:1099's can be given to individuals and companies, and it is usually when a contract agreement exists and not as an employee. Like when a painter contracts to paint your house or office, or when a computer software company does work for your business. So, both of the controllers are incorrect as I ha... More...

W9 / 1099 question?
Just last week I asked a related question and i received accurate, right-on answers -Thanks everybody:) .... Well, im a little confused now so here is another: My club is hiring an entertainer for an event we are having and she is charging $2000. I now know that i need to provide them with a W9 and at the end of the year the 1099.... So, my question is the following... After i get the completed W9 form back from the performer, what do I do with it? Do i fill out the 1099 and mail it to h...

PepsiLime:The performer is supposed to send you the W-9 form, and you keep that as proof that you asked the performer for it. You use the information on it (Social Security or EIN number) to fill out the 1099 at year end if you need to give one to the performer (You would issue a 1099 if you paid the performe... More...

1099-INT question on tenant security deposit?
I'm a first time landlord and receive a 1099 from the bank for the tenant security deposit. Do I keep it for my tax return or do I give it to the tenant for his tax returns?...

bostonianinmo:You're the one receiving the interest from the bank so it's taxable to you. If you are required to pay interest to your tenants on their security deposits then you take an expense on Schedule E for interest paid.... More...

I have a tax question regarding a 1099-C?
I am trying to do my own taxes and have a 1099-C (cancellation of a debt, mortgage to be exact) anyway not sure where I list this on my 1040 form?...

exirsman:You may not have any taxable income from the 1099C, but you must account for it on your return. The issue is whether or not you were solvent at the time of the debt cancellation. You only owe tax on the forgiven debt to the extent you were solvent. For instance, if the forgiven debt was $10,000 b... More...

Tax question about reimbursable expenses and how shown on a 1099.?
The question is: I am an independent contractor for a company that just issued me a PO to do work for them. As part of the contract, I will incur large reimbursable expenses back to the company (tens of thousands of dollars). The company says that they will put those reimbursable expenses on my 1099 shown as income. I guess I then deduct them from my income at the end of the year? Does this sound right or will this cause potential problems with the IRS?...

lcmcpa:They are correct. They must report all monies paid to you on your 1099. You keep track of all of your expenses and they are deductible on your Schedule C (I assume you are an individual). This type of expense will be deducted as a cost of goods deduction (above the line deduction) This get you ... More...

1099 question?
Can i issue a 1099 for an old employee if I do not have his social security number? Do I have to know the social security number to give a 1099?...

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First year as S-Corp. 1099 question?
This is our first year as an S-corp. Its a little late to be asking these questions, but the year flew by and before I go to my accountant I would like the answer to a few questions. (so i dont sound like an idiot asking my accountant this late haha) I know we dont have to 1099 people who we contracted for less then $600 But the people who we did pay more than $600, when do we have to have the 1099 paperwork finished and in the mail by? I assume thats soon... Do we have to 1099 businesses we d...

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Tax Questions, please help! Standard deduction, 1099, etc.?
1) I work full time and get a W2. I planned on filing 1040a or 1040 (I don't remember which?). But, I also did some contract work for small amounts and will recieve some 1099 forms (what are these?!? and if I don't get one, then what?). For those contract jobs, I had some expenses (and have reciepts). Do I just deduct the expenses from amount paid and put that on the 1099??? Or must I then make itemized deductions and sacrifice the standard deduction on all earnings total? I'm so confused...

Judy1:If you have contract (1099) income you'll have to file form 1040, not 1040A. You'll report your 1099 income (show the whole income, and expenses separately) and allowable business related expenses on a schedule C or C-EZ, and also fill out a schedule SE to calculate your self-employment tax (social... More...

Realtor gets 1099 but rebated half of that back to client as fee reduction. How is it reported to avoid tax?
I asked an earlier question for my parents who were my clients that I rebated the commission money to. I got a 1099 for a real estate commission on their home purchase. I rebated a large amount of that back to the clients as a fee reduction. How do I report this on my tax return to reduce the amount rebated from my gross income and not end up having to pay self employment and income tax on money that I essentially never received?...

Mark S:I'm not totally sure, but I think you should report the whole amount as income and the rebated amount as an expense. Your parents, if they had to report a gain, would reduce the commission paid by the amount of the rebate.... More...

Does income from a prize (filed on a 1099) affect the dollar amount for earned income tax credit?
My question is whether income from a prize (MSRP value filed for taxes on a Form 1099) is in a different category than my earned income as it may affect my earned income tax credit....

ninasgramma:Prize money is not earned income. It cannot increase your Earned Income Credit, but it can decrease it. The EIC is figured with and without the prize money, and you get the smaller amount. If your prize money puts you over the limit for EIC, you will get no EIC.... More...

1099-MISC form and Full Time Student Question and IRS collection of Money?
My gf has reecived her sole small income on a 1099-MIsc form for 2006 - less than $20k. She obviously is going to have to pay taxes on it and will wind up owing money. She was a full time student last year and is full time student this year and actually does not even work anymore - she just lives off of school loans. Can the IRS collect money off someone who is a full time student, unemployed and living off government loans? To those have have answered below - I figured as much, so then as a ...

Judy1:She can either pay it now, or owe it to them with interest. They'll set up a payment plan. The length of time to pay it will depend on her ability to pay, and her ability to negotiate.... More...

Do I have to Include a 1099-C form on my state tax return?
My wife and myself received a 1099-C cancellation of debt form for our taxes this year. We didn't file bankruptcy or anything, just a credit card debt we got reduced. Anyway my question was does this have to be added to the state return as well?...

Ola:Yes, as debt cancellation is a form of income.... More...

1099 question. thanks for your time?
Which 1099 is applicable for a non profit CEO?...

Mathew:A 1099 MISC would be issued to a non-employee for compensation paid. The CEO is likely an employee by definition but non-profits sometimes take strange, if not illegal, approaches to the employee vs non-employee issue.... More...

1099 question---10 points for best answer!!?
My husband was working at a lawn maintenence company from Jan.-June 2007, he worked there for over 5 years. His boss would give him "side jobs" to do after work, mostly throwing mulch, and only last tax year, he began giving him a 1099 for all the mu;ch and we had to pay taxes on it. Well, he stopped working there in June of 2007, and just got his w-2 but we dont know whether to wait around for a 1099 this year or not(supposedly he would only get one if he did more that $500 worth of work) We ...

StephenWeinstein:1. If the 1099 was for 2007 income, it cannot be filed with a 2008 return. If you file a 2007 return and later receive a 1099 with 2007 income that was not reported on the 2007 return, you must amend the 2007 return. 2. The income must be reported on the return even if there is no 1099. If you kne... More...

Do I have to pay taxes for my 1099-misc as a business income?
I did collections all over the eastern part of NC for a woman (not a business). I ended up with a 1099-MISC with $2,200 in the #7 Non Employee Compensation Box. TurboTax told me "Congratulations, you're a business". I tried filling out the Schedule C questions but I don't understand any of them. Do I fill all of the questions out in reference to myself as a business? I don't understand this....

the_chef_2:Yes, 1099-misc is "your own business" income and was submitted to the IRS. You do owe taxes on this money. Turbotax (from my experience) handled this very poorly, not allowing me to write-off business expenses with a Schedule-C or even allowing me to correctly file. I had tried using the Deluxe vers... More...

Working from home, should I just 1099 or form a company?
Through some unique circumstances I find myself working from home. The company I was working for told me to 1099 my services to them. My questions is since I live in L.A. county is it in my best interest to go 1099 or should I form a company and do business that way? I really want to know the pluses and minuses of both as far as taxes go. - Thanks for any response -...

what:The 1099 chatter, means you are a sub-contractor to them. If by the books, they can't tell you when to start your work for them, and how long you are to be on the clock. Starting up a business seems to be premature, when all you have to do is keep some records of expenses, and file the Schedule C, ... More...

I am preparing taxes and have a question about 1099-misc.?
The software and paperwork that came in my pack are. Copies A,B,C, and 2. There are twice as many copy C. I live in KY. I am giving 3 1099-Misc to referees that we paid for our basketball league that made over $600. Where do all these copies go? Super confused...... Thanks. I have 2 copies of C, do I keep them both?...

neoplop:A goes to IRS B and 2 go to recipient (contractor) C you keep... More...