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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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Tax ethics question
Ok, I'm doing taxes this week and have had many discussions with home-office/self employed business people. Here is the question:
If you don't get a 1099 from a client do you report the income?
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Cornpoppin' Pony Soldier Last edited by lendaddy; 02-27-2007 at 06:09 PM.. |
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02-27-2007, 06:06 PM
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Licensed User
Join Date: Feb 2003
Location: ....down Highway 61
Posts: 6,505
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No option for the bunny with a pancake?
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02-27-2007, 06:43 PM
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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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Quote:
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Cornpoppin' Pony Soldier |
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02-27-2007, 06:45 PM
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Licensed User
Join Date: Feb 2003
Location: ....down Highway 61
Posts: 6,505
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02-27-2007, 07:00 PM
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Registered
Join Date: Aug 2000
Location: Palm Beach, Florida, USA
Posts: 7,713
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The correct answer is "Yes, don't be stupid". Haven't you heard that the IRS just doubled or trippled their audit staff? You know who is first in line for audits, don't you? You can bet I am declaring every penny of my income this year and looking back to make sure I did the same last year.
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MRM 1994 Carrera |
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02-27-2007, 07:43 PM
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Dept store Quartermaster
Join Date: Jul 2001
Location: I'm right here Tati
Posts: 19,858
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Quote:
No one likes to be the smuck
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Cornpoppin' Pony Soldier |
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02-27-2007, 07:48 PM
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Back in the saddle again
Join Date: Oct 2001
Location: Central TX west of Houston
Posts: 55,852
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Yep, the biggest audit flag is a home office.
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Steve '08 Boxster RS60 Spyder #0099/1960 - never named a car before, but this is Charlotte. '88 targa  SOLD 2004 - gone but not forgotten
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02-27-2007, 07:56 PM
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