1099 forms anyone?
 

I haven't received one 1099 form as of yet. I wonder what's the hold up with my sponsors.

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Hey, I'm Dabomb!

I havent recieved 1 yet either grimez. But I did talk to my CPA and was informed that all tax forms MUST be post marked by the 31'st of Jan..

If they aren't, you can keep the envelopes and report them to the IRS...

It is a small fine though if they are not postmarked by then...

Balljoints

Technically, a payor is not required to issue you a 1099 UNLESS it pays you $600 or more over the year. Still, any sponsor worth its salt will issue you a 1099 anyway.

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Jill your right about the 600 buck limit. But why would they send it if they dont have to, and why would you want it???

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jill, that is true, If you make $600 in a year they are required to send a 1099, and it MUST be postmarked by the 31st of Jan Too bad that most of the sponsors dont understand that. The first 1 I got last year was postmarked about the 15th of Feb last year..

This year I am consulting with a CPA to make sure everything is good since I made about 3-4X as much this year as I did last year http://bbs.gofuckyourself.com/board/smile.gif

If you dont hit the $600 mark, they are not required to send a 1099, and they wont. That is fine, and if they did I would be totally surprised. You are still required to claim the income though. And they report it...

Balljoints

We just sent ours, it was delayed because we had several webmasters with bad soc. sec. numbers.

Last year, someone sent me one in May, wtf?

MAY??

Are you serious Lens LOL

My main sponsor last year didnt even send me a 1099. I had to get on their cc billing company stats to see what I made.. This year they are about the 3rd or 4th biggest. And since they are overseas, I am sure I am going to have to go with the online stats again, and they are fucked up! Can anyone guess who the CC billing company is?

Balljoints

I keep all my check stubs so I don't need the 1099s to figure out my taxes...I'll just use them to double check my figures...I'm actually getting a refund instead of owing money for the first time in like 3 years of making porn sites. I guess there is a benefit of not making a lot of money off your sites.

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Damn rictor that is nice that you are getting a refund http://bbs.gofuckyourself.com/board/smile.gif. I added another to my family, and I am afraid I am going to have to pay out the ass this year http://bbs.gofuckyourself.com/board/frown.gif

Got all the check stubs, but cant really do anything until I get the 1099's because that is what we have to send in. Got my w2's from my teaching jobs, and my wifes job, so I am just waiting on the 1099's. Since I know I wont get them for at least a month, I am not even going to try to do my taxes..

Balljoints

[This message has been edited by Balljoints (edited 01-31-2001).]

If anyone wants to know how much they made in 2000 and doesn't want to wait for a 1099 or made less than $600, they can call us or drop me an email.

You sure you want to do that lens? That is potentially A LOT of people http://bbs.gofuckyourself.com/board/smile.gif

Balljoints

Did they move the 10-99 date up? It used to be some time in February for the cutoff for businesses to send them out. We were just talking about that here the other day and neither of us knew. Gonna have to go sift the IRS site I guess to be sure!

I have already gotten two 1099 in the past week from sponsors. Still waiting for 3 more though.

Even though a payor is not required to issue a 1099 for payments less than $600, it makes good business sense to do so because it gives the payor added documentation of his/her/its expenses (even though the payor should be able to document same at audit using his books/bank statements). I own real estate and deal with lots of contractors... and I 1099 'em all.

Well, I know I made less than $600 in the adult business last year. Hopefully, 2001 will see making more than $600.

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Gemini, I talked to an accountant this year to find out the date for 1099's because last year I had some 1099's that I didnt get until march. It is the same cutoff date as sending w2's to employees which is the last day in Jan. Well, they at least have to have them postmarked by then. If they have a postage machine in house they can postmark them that date but not send them until after that if they want.

I got 3 or 4 in the mail today myself, and another 1 last week. They are definately coming faster this year http://bbs.gofuckyourself.com/board/smile.gif

Balljoints

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