If the amount dispersed include a travel allowance that would drop the actual fee below 600.00, how should that be handled.
Sent from my iPhone On Mar 21, 2024, at 2:06 PM, Mary Collins via Organizers <organizers@lists.sharedweight.net> wrote:
Ok then yes each recipient should fill out a w9 (down load from irs) and then next Jan a 1099 should be issued. To clarify, this event is upcoming. We have not yet paid our talent, but multiple individuals will receive an amount greater than $600.
As an organizer, caller, Bookkeeper and tax filier this is correct...if you paid an individual $600 or more during the year. If it was a band that disbursed monies less than $600 each then no.
The 1099's were due Jan 31, so get this done asap.
There is also a new "gig worker" deduction for those earning over $250 from one organization as well for those of us that call or play.
Mary Collins
Hi all,
I’m a new treasurer for an organization that is preparing to hold it’s first weekend since before the pandemic. We are a registered 501c3 non-profit operating at less than 50K per year. We will be paying our talent more than the threshold for filing 1099’s ($600+), thus it is my understanding that we’ll need to get our talent to fill out W9s and send them 1099s for their 2024 taxes. Past treasurers do not recall filing 1099s for weekend talent in the past, however rates have gone up and the threshold for filing has gone down.
Can an presently active/experienced treasurer confirm or correct my understanding of this situation and give any insight to the process, please? Also interested to hear experiences of talent who have had to file 1099s for earnings.
Many advance thanks for any light you can shed on this.
Best,
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