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Thread: 1099's

  1. #1
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    Default 1099's

    For the second time in a year I have been berated / chastised for sending someone a 1099. I do 100% of my billing / invoicing through my SUB-S Corp. and folks are not required to send a 1099 to a corporation; therefore, I see maybe one or two 1099's per year. I am required by law, however, to send a 1099 to anyone earning more than $600 under my employ.

    Am I off base here? Are 1099's not still common amongst independent contractors? These 1099's I am sending are not for small amounts either, they are for $3,000 and $5,000 respectively. I try to employ folks and pay them a nice wage ($600 - $1,000 per day??? hello??? are you kidding me???) and then they turn around and in the middle of a session publicly berate me for "99'ing them" in front of 6 or 7 people, as if I have done something wrong…

    I have a simple cure for the problem, I simply will not hire them anymore. Done. Their 1099 problem has just been solved and they will no longer be receiving any of them from me in the future.

    Thoughts on the subject? Thanks!
    Todd Robbins
    TX3 Productions, Inc.
    www.toddro.com

  2. #2
    Wireline's Avatar
    Wireline is offline 3D VIP 2004, '05, '06, '08, '09, '10
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    Are you following the current tax law? If yes, then no problem...if no, then still no problem. You are not under any obligation to help others cover their tracks (not those tracks...THOSE tracks)
    Ken Morgan
    2010 3d VIP

  3. #3
    Brian Shillito is offline 3D VIP 2010, '11, '12, '13. '14
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    Damn! ... and I came here thinking a "1099" was one of Todd's secret Neve units I had not heard of! I'd just tell the disgrunts "death and taxes man... you don't like it change the law".


    Best regards, Brian.
    Brian Shillito
    Blackfish Sound Studio
    West Vancouver B.C.

    Facebook: http://www.facebook.com/profile.php?id=100000844248569

    Who added the "AT"?

  4. #4
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    The 1099 is a great unsung Neve module, and I don't think Todd is off base sending out the literature.

    If someone is berating you, it would suggest they are trying to hide the money. But.....I doubt he's paying them cash, so they are just ill-informed? Or are they berating at the time the relevant tax info (W-9) is requested?
    Doug Williams
    Electromagnetic Radiation Recorders

  5. #5
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    Quote Originally Posted by emrr View Post
    The 1099 is a great unsung Neve module, and I don't think Todd is off base sending out the literature.

    If someone is berating you, it would suggest they are trying to hide the money. But.....I doubt he's paying them cash, so they are just ill-informed? Or are they berating at the time the relevant tax info (W-9) is requested?

    Yeah, that's the thing. No problem filling out and signing all the tax forms. And certainly no problem endorsing and depositing the check. But then...
    Todd Robbins
    TX3 Productions, Inc.
    www.toddro.com

  6. #6
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    I know someone who owns a studio and (reputedly) declares NONE of the income from it. I'm talking $20K/month.

    Me? I still declare every check that comes in the door.

    Doing business the right way, the legal way, is not optional for me.
    Lynn Fuston
    3D Audio

    Making beautiful music SEEM easy since 1979.

  7. #7
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    Berated for being proactive? I think Doug's onto something. You're doing them a favor so they don't have to chase you later. WTH. I think thanks should be the warranted response.

    Neil McTavish
    www.briaghamctavish.com

  8. #8
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    Quote Originally Posted by 3daudioinc View Post
    Doing business the right way, the legal way, is not optional for me.
    Same here. I keep great records for my part-time studio business (QuickBooks) and great records with my home finances (primarily online banking reports), with totally separate banks and bookkeepers. All of that info goes to the accountant every year and handled (hopefully) appropriately.
    Quarter Note Recording
    Kinston, NC
    www.quarternotestudio.com
    QNS on Facebook

  9. #9
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    Do you guys still get 1099's doing independent contractor work? I mean, they have not been discontinued have they?
    Todd Robbins
    TX3 Productions, Inc.
    www.toddro.com

  10. #10
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    I'm not a tax attorney, nor do I play one on TV. However, it seems (according to the January 1, 2014 website) that the 1099 is still alive and well, at least in the eyes of the IRS.

    http://www.irs.gov/Help-&-Resources/...nt-Contractors
    Lynn Fuston
    3D Audio

    Making beautiful music SEEM easy since 1979.

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