Where Are My Tax Forms? When Your W-2, 1099, 1098, & Other Forms Aren’t In The Mail
Ready to work on your tax returns but can’t find your forms W-2, 1099 and others? Here’s what you need to know.
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Ask The Taxgirl: Tax ID Numbers & 1099s
Taxpayer asks: Am I legally required to have tax ID#’s on file for individuals who perform services for my organization if I know the payments will not total more than $600 in any calendar year? Taxgirl says: I was asked a similar question from a client years and years ago. The client ran a sort…
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Ask The Taxgirl: S Corporation Deductions For Subcontracting
Taxpayer asks: I own a S-Corporation. If I receive a project from my client and want to subcontract a part of it to another company, where do I show that expense on my business tax return? In deductions, there is a place to show 1099 subcontractor expense. However, this is not really a 1099 sub….
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Ask The Taxgirl: Independent Contractor & Employee In The Same Tax Year
Taxpayer asks: Hello Taxgirl,I have a simple, yet complicated tax question. I worked for a company last year for the first 5 months, then for the last 7 months I was self- employed. Do I file two separate forms? Anything you can tell me I will greatly appreciate.Thank you, Taxgirl says: Here’s a lawyerly answer…
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Ask The Taxgirl: 1099 For Rent
Taxpayer asks: I am a sole prop and paid rent to an accountant who is a professional corporation. Do I need to 1099 him? Taxgirl says: No, you generally don’t issue a form 1099 for rental payments made to corporations (there are some exceptions). For more on when a form 1099 might be appropriate, check…
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Ask The Taxgirl: Forms 1099 & Estates
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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Ask The Taxgirl: Incorrect 1099
Taxpayer asks: I received my 1099 on Feb. 8 and noticed that the amount looked higher than it should have been. So I checked my bank records twice. Compared to the 1099, my bank statements said $646.01 less than the 1099.Feb. 12, I call my ex-boss’ accountant (T), and tell him about this problem. I…
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Ask The Taxgirl: Reporting 1099-MISC Income
Taxpayer asks: Hi, can I report my 2007 1099MISC income with my 2008 tax return? Taxgirl says: I wouldn’t. The IRS will receive a copy of the 1099-MISC issued by the payer and will expect to see corresponding income on your return. When the information doesn’t match up, you will likely receive a notice from…
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Ask The Taxgirl: 1099s, 1040s & Rebate Checks
Taxpayer asks: I have 3 kids and this is my first year filing a 1099. Am I able to claim dependents on a 1099 misc and get a refund? Taxgirl says: There is a distinction between a form 1099 and a form 1040. There are several different types of forms 1099 – you can read…
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Ask The Taxgirl: No 1099
Taxpayer asks: I have a question regarding a 1099 or rather a lack there of. I did independent contractor work for a company and they have not issued me a 1099 for 2007. I have a friend who did work for them in years prior and they never issued her one either. Do I report…