As a band leader, I pay thousands of dollars in agent commissions yearly. In previous tax years, I've simply entered the appropriate amount in the Commissions box on my Schedule C and moved on. Should I also send a 1099 to each agent for their respective total commissions? Best regards,
Tim =(substitute 'tcsys.com' for 'nospam.co.uk') _________________
Visit the Surrender Dorothy web !!
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Yes. See Code Sec. 6041; Treas. Reg. 1.6041-1.
"Timothy J. Trace" wrote
Yup. And to anyone else that did not qualify as an employee who you paid more than $600 to during the year. This could be recording studios, photographers, artists (thinking of cover art on the CD's), studio musicians, back-up vocals, etc.
-- Paul Thomas, CPA snipped-for-privacy@bellsouth.net Athens, Georgia
I'm flummoxed by your question, since my impression is that you are in the UK. Why are you filing a US federal return? Do you have income over on this side of the pond? anyway, and if so, a 1099=misc would be in order, yes.
ChEAr$, Harlan Lunsford, EA n LA
YES! DEFINITELY!
DO IT YESTERDAY
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-----> real address on hobokeni or hobokenx
Hey, Harlan - thanks for the advice. Like many others, I obfuscate my email address to hide from spam bots. Check my signature again and you'll see what I mean. Best regards,
Tim =(substitute 'tcsys.com' for 'nospam.co.uk') _________________
Visit the Surrender Dorothy web !!
Well, if it were "TSYS", I would know you're in Columbus, GA, home of Total Systems, credit card processor extraordinaire. ChEAr$, Harlan Lunsford, EA n LA
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