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Topic: 1099-MISC for assistants?
Message: Posted by: Lothar (Feb 4, 2013 12:10AM)
I had assistants for one of my shows. I paid them for rehearsals also. Do I need to make 1099's for them??
Message: Posted by: Mindpro (Feb 4, 2013 12:27AM)
Did you contract them? How much did each of them earn? I also think you may be past the deadline.
Message: Posted by: Paddy (Feb 4, 2013 04:33AM)
If the made more than $600 you have to 1099 them. Less than $600 can be under the table. BUT if you are going to deduct what you paid them then the 1099 is your only proof of payment. Don't you just love the IRS rules.
Message: Posted by: Michael Messing (Feb 4, 2013 08:06AM)
[quote]
On 2013-02-04 05:33, Paddy wrote:
If the made more than $600 you have to 1099 them. Less than $600 can be under the table. BUT if you are going to deduct what you paid them then the 1099 is your only proof of payment. Don't you just love the IRS rules.
[/quote]

If your assistants made less than $600 for the year, you can still deduct their pay without using a 1099 as long as you have proof of payment. In my case, I always paid by check and kept copies of the imaged check after it cleared. (My bank stop forwarding me the actual cleared check years ago.)
Message: Posted by: Eldon (Feb 4, 2013 11:04AM)
I do the same as Michael. The 1099's are supposed to be out by the end of January but as long as you get them out pretty quick you'll be ok. Don't forget your transmittal. I'll do a disclaimer for all of us. Remember non of us are tax experts. Take our guidence at your own risk. :lol:
Message: Posted by: Dannydoyle (Feb 4, 2013 11:44AM)
ASK AN ACCUNTANT!
Message: Posted by: Eldon (Feb 4, 2013 11:54AM)
[quote]
On 2013-02-04 12:44, Dannydoyle wrote:
ASK AN ACCUNTANT!
[/quote]

That's obscene! If that doesn't work ask an accountant. Sorry couldn't resist. But Danny is right.
Message: Posted by: Dannydoyle (Feb 4, 2013 03:01PM)
It never ceases to amaze me the things people think to ask on an online magic forum.

Eldon that is cool, you can't say it enough.
Message: Posted by: Rodney Palmer (Feb 4, 2013 11:20PM)
And if you asked an Accountant they would also tell you the DEADLINE for any Forms has been extended and now have to be Postmarked by February 28, 2013. The Dealines were extended thanks to our government and the late breaking tax extensions.

Rodney
Message: Posted by: TomBoleware (Feb 5, 2013 06:06AM)
And then the Accountant would say, if you 'hired' them as employees, you will need to provide a W2, not a 1099. However if they were contracted, you need the 1099. Or if it is a small amount just count it as labor under other expenses.

and then he would say, that will be $179.00. :)

Tom
Message: Posted by: Dannydoyle (Feb 5, 2013 08:46AM)
Oh lord thanks for proving my point guys.