W4 for 1099 purposes is that the client files with the IRS if they paid out more than $600 for the services. They are not bound to withhold anything. That is your job as a contractor. Those funds will have to be reported. So my advise is after you receive payment for services, take 35% of it an put it off the side for taxes.
I have a client for whom I have a 1099-MISC with. I do the same with them in regards to taxes. -----Original Message----- From: William Bowen [mailto:[EMAIL PROTECTED] Sent: Wednesday, April 11, 2007 11:17 AM To: CF-Community Subject: W-4 for a 1099-MISC, WTF?? I did some set design work for a local community theatre (I'm currently dsigning a second set for them now) and was asked to fill out a W-4 so they could file a 1099-MISC for me. Now, in all my years of contracting I've never had to fill out a W-4 when working 1099. Is there some new rule I don't know about? These folks are *not* putting me on payroll, nor would I trust them to withhold anything close to resembling the correct taxes. I have also asked a tax person about this, but don't expect a quick answer given the timing. Anyone have any insight? All advice or information is assumed to carry the "I am not a tax lawyer" caveat. thanks -- will "If my life weren't funny, it would just be true; and that would just be unacceptable." - Carrie Fisher ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Macromedia ColdFusion MX7 Upgrade to MX7 & experience time-saving features, more productivity. http://www.adobe.com/products/coldfusion?sdid=RVJW Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:232246 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
