 Is undocumented income taxed, like tips at restaurant ? |
I know a guy who is a waiter in a restaurant. He gets around $1000 as wage, by check. But he also makes $150- $200 per week extra as
tips given by customers. As these are undocumented income ... |
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 Paying taxes sucks......how can I not pay them? |
| it was fun at first but it's getting tiring and I'd rather just spend my money on a good stripper that knows how to treat me better than the government :) (Also, dont say leave the ... |
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 What are the tax filing requirements - life events? |
| Are there special tax filing requirements for a friend of mine who over the course of last year lost her husband and moved to another state? She had been listed as a dependent on her husband's ... |
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 Can I claim 2006 charity contributions in 2007? |
| I just realized that I significantly under reported my charitable contributions in 2006. Should I ammend my 2006 return or can I simply add the amount to my 2007 charitable giving?... |
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 I have not received my stimulus check,I filled in 01/08,chose direct deposit & last 2 digits are between 01-20 |
| My girIfriend and I live in the same apartment and coincidently the last two #s of our social security are the same but we both filled single, and seperately. I filled way before her in Jan. 2008, I ... |
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 Can the IRS Keep your Stimulas Package? |
| If you owe the IRS Back Taxes for several years are they going to keep your stimulas package and apply it to your balance?... |
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| Income Tax? |
Just read the following on the Yahoo New pages"The government will from next April cut the basic rate of income tax from 22 pence down to 20 pence. The lowest basic rate for 75 years."
... |
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 In the uk is it fraud for a pensioner to work fulltime and claim state pension i dont mean a private pension? |
| i mean a pension through the dhss i know it is not illegal to keep on working after 65 but i thought the goverment has allowed this to save on pension benefits this is for uk ... |
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 What is the best way to file my taxes this year? |
| I got married in the latter part of the year in 2007. My husband is paying on arrears for child support, and there for he says that his Tax refund will be intercepted. Well I have a child and I want ... |
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 It says my stimulus check was deposited but nothing has came through? |
| I had my dad use his friend to do our taxes and my dad used his bank account to get my refund direct deposited. Everything went through ok, but I did have to do a 1040x and have already received ... |
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 $$$$$$$$$$? |
| I've heard that if a minor makes over one thousand dollars in a year, they can get that money back from W2's. Is this true? if not, what is.... |
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 Do I have to file taxes? |
I'm 21, full-time college student and work full time at an NGO (I have to pay my taxes myself, they don't take it out of my check).
I make 10$ an hour and I started in January so by A... |
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 IRS..... Refund check stolen and cashed? |
| My husband and I just found out that our refund check for $1800.00 was stole from our mail box(we think) and cashed. After a 6 week investigation it resulted in finding out it was cashed 2 weeks ago. ... |
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 Should I bother with tax deductions? What are they? |
| First, I need to explain that I've already heard the definition of a tax deduction- "A reduction of total income before the amount of income tax payable is calculated." (So please don&#... |
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 Fraud. Filing a tax return on a child they don't have.? |
| I have a friend who works, but gets food stamps through Welfare. She has a 3 year old child and has done taxes on him every year, except this year she went to do her taxes and the return got rejected ... |
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 If I file an tax return, but my parents still claim me as a dependent, do I get an economoic stimulus check? |
| I am a college student and I file my own state and federal taxes, but my parents claim me as a dependent on their taxes. Do I still qualify for the $600 economic stimulus check? Thanks.... |
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vathnaly | Tax Question..... About 1099-MISC..... Any Help? |
I am self-employed and I'm trying to wonder if I have to file a 1099-MISC to the IRS because I rented from someone a salon space for my business. Do I send a 1099-MISC to the person that I rented the space from? But I kind of think that a 1099-MISC is somewhat like a W-2. Am I right? I'm not really sure. Any help would be appreciated..... I already check www.irs.gov website already and that didn't really help. |
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sunshine_today
 |
No, no, no. You do not send anyone else a 1099 if you rented a chair. That is a deductable business expense for you as a self-employed person. If the salon paid you any money for your services, that is probably coming as a 1099, but you can still deduct what you paid for the rental, plus supplies, uniforms, advertising, etc. You might want to meet with an accountant to learn about the appropriate deductions so you don't miss any. As a self employed person you will be paying higher social security rates and your own medicaid, so you want every deduction you can get. |
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tma
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You should issue a 1099 to the individual (unless they are incorporated) if you paid more than $600 in rent. You would also have to file a 1096 and 1099 with the IRS. You would be able to deduct rent as a business expense. |
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Don E
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Ask your tax preparer although I believe you are correct as it is income for the lessor and is deductible on schedule C as a business expence . |
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WealthBuilder
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As a business owner, you must send 1099-MISC to anyone you paid at least $600 during the previous year who provided you with personal services in exchange for your money. This would be like helpers and might include the salon owner, but only UNINCORPORATED recipients. You don't send 1099's to corporations or partnerships. If you buy $1000 worth of goods from an individual for resale, you also don't send a 1099 since goods are not labor. |
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Janet P
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IRS did not help because this is completely wrong.
1099 is for independent contractor work, not rent or any other expense. You don't send W-2's to landlords either. |
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Mistical
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You don't use a 1099 misc for rent that's goes with the taxes you file, a 1099 misc is for like contact labor you need to contact an accountant |
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Jennybobenny
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It's a bit late for this - given the 1/31 deadline, but yes, typically, if the rents are substantial you would send a 1099-misc for rents. There is a special box on it just for rental income. BUT, if the salon is a corporation, it is not necessary to 1099 them. For now, I would just make sure you can prove that you paid them rent, have a rental agreement in writing, copies of the checks you wrote, bank statements, etc., in case you get audited down the road. You will be deducting the rents you paid them on your schedule C when you file your taxes, so make sure you have the documentation to back it up!
ps. - go ahead and deduct the rent you paid on your taxes - just make sure you can prove you paid it....
Hope this helps! |
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Judy1
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You don't have to send them a 1099-MISC. They're in business and must claim the payments from you as business income though. They're responsible for keeping records on how much they received, and filing their taxes accordingly. |
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Lisa A
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A 1099 is for INCOME paid to someone for services rendered. Not rent. |
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