Posts tagged as:

1099-MISC

Taxes from A to Z: K is for Kickbacks

13 March 2011

Oh c’mon. You totally knew that I was going to choose kickbacks, right? The rules governing illegal activity and taxes are some of the most entertaining bits of the Tax Code, not that the bar’s terribly high to begin with… The specific section of the Code that references kickbacks can be found under Itemized Deductions [...]

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Ask the taxgirl: Reporting Income Not on a W-2

2 October 2010

Taxpayer asks: Hi, Just wondering if I have multiple jobs one year, can I not declare taxes if what I earn from each individual job is less than $600, or does what I make from all the jobs added together have to be under $600? And what if its at the $600 mark; does it [...]

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Dems, GOP Suddenly Care About 1099 Reporting Requirement

14 September 2010

And by “suddenly” I mean months later, after they passed it as part of a bill that they clearly didn’t read… But now that folks are ramping up their complaints over the new tax reporting requirement that was included, logically (not), in the health care bill, both Dems and the GOP have decided that they [...]

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New 1099 Rules Remain In Place – For How Long?

21 August 2010

Earlier this year, I reported on the new reporting requirements for forms 1099 under The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act. The rules have been heavily criticized in the press but we haven’t heard much from Washington. There’s an update (sort of) on the progress (or lack [...]

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Ask the taxgirl: Swaps and Payments

21 May 2010

Taxpayer asks: I’m a graphic designer and I do printing on the side. Last year, when business was slow, I was in a jam and needed some work done on my roof that I couldn’t afford. I have a friend who just started a roofing company so I agreed to swap out the labor for [...]

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Ask the taxgirl: Filing late tax returns

11 May 2010

Taxpayer asks: I’m an independent contractor using 1099s. I have one w-4 for a small small amount from 2009. I missed the tax deadline and did not file an extension. What kind of advice can I get? I live in CA but need some general direction. Taxgirl says: File. That’s my advice in a nutshell. [...]

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New Rules About Forms 1099 Are Causing a Stir

6 May 2010

This week, the internet is abuzz about a provision included in The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act that expands reporting requirements related to forms 1099. As per usual, there’s some good information out there and some bad… Let’s see if we can’t sift through it. The [...]

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Ask the taxgirl: Do I Need a Form 1099?

19 November 2009

Taxpayer asks: Several elderly friends have asked me to help them with administratrive work in there home. I would probably do this on an ongoing basis and I am sure each would end up paying me more that $600 a year. I would report all of this money (Schedule C I think) but am concerned [...]

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Ask the taxgirl: Reporting 1099 Income

19 March 2009

Taxpayer asks: To Whom it may concern, I have a 1099 form that records that I made $600.50. I have a regular job that I have my W-2 with. Because the amount is $600.50, do I need to include it on my 2008 taxes? If so, can you advise me how? Never have done this [...]

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Ask the taxgirl: Forms 1099 and Estates

31 July 2008

Taxpayer asks: My father my grandmother and (unofficially) I, are administers of a simple (non trust) estate for my recently deceased Uncle. the estate has hired an attorney, a funeral home, a grave tending service, and a guy to help clean the house he lived alone in, and sell personal property contained in the house. [...]

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