For all you independent photog's and artists, its time to get your protest on!
"...starting after next year, if you pay any person or corporation more than
$600 in a year for goods or services, you must report that to both the
IRS and the entity or person whom you paid. For example, if you bought a
... new camera or lens for $1,000, you would have to report that on your
income tax returns and issue a 1099 to the company from which you made
the purchase."
Read more...
http://www.asmp.org/strictlybusiness/2010/08/help-asmp-protest-new-1099-requirements/
and
http://www.irs.gov/pub/irs-drop/n-10-51.pdf
Thanks Tom!
"...starting after next year, if you pay any person or corporation more than
$600 in a year for goods or services, you must report that to both the
IRS and the entity or person whom you paid. For example, if you bought a
... new camera or lens for $1,000, you would have to report that on your
income tax returns and issue a 1099 to the company from which you made
the purchase."
Read more...
http://www.asmp.org/strictlybusiness/2010/08/help-asmp-protest-new-1099-requirements/
and
http://www.irs.gov/pub/irs-drop/n-10-51.pdf
Thanks Tom!
RSS Feed