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Tax Question
I know the numbers have to match properly, in terms of what Epoch or Ibill submitted to IRS
and how much you will report you earned from them. I have not received any W-2's or any sort of papers neither from Epoch or Ibill. Why dont they send us the papers that show what they reported to IRS? |
in accounting terms it's a "doubtful debt".
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they won't every send you papers. would be nice if they did but I think you are just a contractor under them if I remember how it works out. Just add all your checks up you got in 04 and claim that money
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Papers
They send forms to you showing how much you made. Thats a write off for them so they 1099 you. Yes, you do need to claim all you made. If you gave them your FIN or SS# you really need to figure out how much you made.
And thats not a doubtful debt, maybe a bad debt, but it's still not even that! |
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Processors will not 1099 you, and they won't w2 you. W2 is for employees and you are a sole proprietor (most likely). Login to their admin panel and pull up a time period from 1-01-04 - 12-31-04 . Then deduct the proicessing fees and you'll have your #.
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yeah, I was pretty sure they weren't sending papers and never will. Now I've seen this talked about before, but are you guys writing off your ccbill and epoch fees? I've heard some accountants say you could and some say you can't. Just wondering what most of you guys are doing.
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I didn't know you were referring to processor's, I meant companies like clickcash, piecash etc.
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I am an accounting major, and I am 99% sure you can deduct those fees.
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report what you earned, make it your best guess if you never kept track of things.
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