|
Doing great here. How is tomorrow doing for you?
One of the many tasks for a business is sending out the required 1099-Misc to any business we spent more than $600 with last year with checks or cash. If we spent whatever amount with a credit card, it does not require a 1099. If they were a full corporation, no 1099. Just send them to LLC and individuals. And if we fail to send them the penalties are "draconian" if if it was a honest oversight or mistake. And the real kicker, I can't under huge penalty of law, just print them on my color printer, they HAVE to be printed on special pre-printed forms and those are expensive and come in packs of way more than we need. So I 'get" to pay my CPA to print the handful of them and mail them. That is cheaper than buying the forms and printing on them. Part of the government CPA full employment program.
__________________
Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
|