A few things here... Anything that is a reimbursement is not taxable as income to you and they should not put it on your 1099. If you are marking up hosting, then the markup is probably taxable, but I would talk to a CPA about that to know for sure.
If you made the money in 2009, and you were paid the money in 2009, then I don't think that they can legally issue you a 1099 for it for the tax year 2010. They would have to issue an amended 2009/1096 (the employer part of 1099s), and they would probably get a penalty for that since they should have issued all their 2009/1096 by Jan 31 2010. Even if they do this and issue you a 1099 for 2009, if you already reported it you don't have to do anything else because you already paid taxes on it. Again, I would talk to a CPA before accepting this as fact. Last - which end of the equation are you on here? Issuing 1099s or receiving them? I assumed receiving, but looking back at your original email it could be either... -Cameron On Thu, Dec 23, 2010 at 10:36 AM, Ras Tafari <[email protected]> wrote: > > well the bueno part is that ive already claimed the income as it was, in 2009 > the not-so-bueno part is that he didnt do it for more than me > and for more money than i, and a lot of times, the work > is done by, for lack of a better term, local crack junkies. > > ugh. > > 420 of the $570 that year was my hosting fees (which i pay tax on) > and he doesnt 1099 for service fees like that, right? or does he? > > anyway, let me know, but i didnt think so. > > w0rd. > > On Wed, Dec 22, 2010 at 5:51 PM, Cameron Childress <[email protected]> wrote: >> >> On Wed, Dec 22, 2010 at 11:08 AM, Tony <[email protected]> wrote: >>> hey guys and gals. >>> >>> does it make sense to submit a w-9 to a vendor >>> for $150 of work in 2009? isnt there some sort of >>> "too small" for 1099? >> >> 1099 is only required if you make $600 or more over the course of the >> calendar year. If you are only getting $150 from them they do not >> have to 1099 you, but they may elect to anyway. If you have a good >> working relationship with them I would explain this to them. My >> understanding is that if they report the income you will be required >> to pay tax on it. >> >> You can find more here: >> http://www.irs.gov/instructions/i1099msc/ar02.html >> >> -Cameron >> >> ... >> >> > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:332834 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
