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"Simple" tax question
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 2011-01-03 9:48 AM |
Pro  4909    Hailey, ID |  Subject: "Simple" tax questionI'm a small business owner. I do consulting work and it's pretty straight forwards. I get 1099'd from various companies I consult for. Do I need to wait for the 1099s to do my taxes, or can I just go off my own numbers and totals? Thanks! |
| 2011-01-03 9:54 AM in reply to: #3273930 |
Champion 6962   Atlanta, Ga | Subject: RE: "Simple" tax question You can go off of yours, but if for some reason if the company's is different, you will most likely have to refile. It's the same as people don't have to wait for their W-2's, they can use their last pay stub. BUT...hopefully nothing changed. |
| 2011-01-03 12:02 PM in reply to: #3273930 |
Champion 7347 SRQ, FL | Subject: RE: "Simple" tax question 1099s are due out by Feb 1st so I'd just wait... |
| 2011-01-03 12:11 PM in reply to: #3273930 |
Extreme Veteran 732 Omaha, USA | Subject: RE: "Simple" tax question bradword - 2011-01-03 9:48 AM I'm a small business owner. I do consulting work and it's pretty straight forwards. I get 1099'd from various companies I consult for. Do I need to wait for the 1099s to do my taxes, or can I just go off my own numbers and totals? Thanks! If you know your numbers are correct, they can amend their 1099s and then it wouldn't require a refile. You can use all features of TurboTax online to get started on your taxes, then when the paperwork come double check it. |
| 2011-01-03 1:19 PM in reply to: #3273930 |
Pro 4909 Hailey, ID | Subject: RE: "Simple" tax question So, I should enter in a 1099 manually for anyone who should send me one or just put my total profit from my business (I'm just a sole P.). I have clients who probably should 1099 who never do. |
| 2011-01-04 9:17 AM in reply to: #3273930 |
Champion 7347 SRQ, FL | Subject: RE: "Simple" tax question If your charges to them are less than $600 they are not required to send you a 1099. You are however still required ot report that income. |
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