how should I write off outsourcing on my taxes?
 

Got some outsourcing done last year from Gene.

what title show I use for my business deduction? it's just a normal business deduction, correct?

Contracted labor if I recall. I do not fill out my own tax stuff anymore my accountant does all of that.

If it was more than $599, you were supposed to file a 1099.

What type of work was done? If you can put it in any of the normal columns I would so, esp. if you didnt file the 1099 as required.

even if it's offshores?

hire an accountant, if you hire a good one, it will pay for itself...

hire accountant gfy is not the place for tax info

I couldn't even tell you how my accountant does it but I do know I never issued a 1099 for outsourcing. If the outsourcing company is Incorporated you couldn't 1099 them anyway if I am not mistaken.

I agree with the other posts. Hire an accountant to handle this.

You don't need to file a 1099 if you paid a company on shore or offshore!

I think that you actually get a major tax break for outsoutsourcing. You may want to talk to someone about that.

hmm, alright thanks.

I'll go ask my irs proff...use to be a ex irs agent, but not sure if she is allowed to give tax advice.

I don't think I'm at the point to need an accountant, my income isn't high enough right now to warrant one.

I can answer this, I have am MBA in Finance and qualify to sit for the CPA exam - I like porn bettere than tax accounting

Yes - you can write this off. Almost everything you do can be expensed. ICQ me if you have any other tax questions

hehe, nice man. Will do! I'm a finance major myself, last quarter! I wouldn't ever go as far as a MBA though, way too much schoolin for me.