So today I received my 1099-misc for 2013 - perfectly normal.
The problem is I received two copies (in separate envelopes). The figures are the same, even the postmarks are the same.
Neither is marked "amended".
Anyone else seeing this?
netmeg
11:08 pm on Feb 3, 2014 (gmt 0)
I never get one.
BillyS
11:48 pm on Feb 3, 2014 (gmt 0)
I didn't get one yet. Unfortunately, the mail delivery in my town is horrible too. I get my neighbor's mail all the time. :(
ember
12:32 am on Feb 4, 2014 (gmt 0)
Set up an S corp and you won't receive one. Saves on taxes.
dcheney
1:05 am on Feb 4, 2014 (gmt 0)
My operation isn't big enough to worry about that - schedule c is just fine
I just hope they didn't double report to the IRS!
avalon37
3:40 pm on Feb 4, 2014 (gmt 0)
Just one copy here.
LifeinAsia
4:24 pm on Feb 4, 2014 (gmt 0)
Set up an S corp and you won't receive one. Saves on taxes.
Not necessarily. As in all things tax related- your mileage may vary.
In California, corps (including S corps & LLCs) are subject to a minimum $800 franchise tax annually. Even if your business has a loss, you still have to pay the $800. (And if you decide to close your business and forget to file the paperwork before the end of the year, you'll have to pay the $800 tax each year until you file to close it. Even if you file on Jan. 2.)
ember
12:47 am on Feb 5, 2014 (gmt 0)
Re: S corp, yes, then it might not worth setting up one in CA. In CO, I pay fed and state tax on all of my profits, but I only pay FICA taxes on what I pay myself as a salary (which has to be reasonable). So a significant amount of income is not subject to FICA tax. On Schedule C, it is all subject to the 15.3% tax. BTW, I am not an accountant.
