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  1. #1
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    Is that what it is called.

  2. #2
    Resident Genius and Staunch Capitalist Leader's Avatar
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    1099 forms are indeed sent out. As I recall, it came a bit later than I expected last year...

    People who made under $600 or $500 (Forgot which, I think it's 6) don't get any.

    But those of us who have made good commissions will get it for sure, unless it gets lost in the mail...

  3. #3
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    In which case we will have to beg for new ones before we can file.

    I owe I owe I owe. Eye yie yie. Who mentioned taxes anyway?

    Can't I just move to PR and forget the whole *income tax thing*? LMAO

  4. #4
    Super Sh!t Stirrer SSanf's Avatar
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    Even if you make under $500 you need to list the amount on your taxes. The IRS has the information and they know you received the money. If you don't want to have your taxes "corrected" for you, include your earnings.

  5. #5
    Content $ Queen Ebudae's Avatar
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    Do we include the money we made in December, but haven't recieved yet?

    Vicki [img]/infopop/emoticons/icon_wink.gif[/img]

  6. #6
    Super Sh!t Stirrer SSanf's Avatar
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    Yes, you will get it before your taxes are due.

  7. #7
    Resident Genius and Staunch Capitalist Leader's Avatar
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    Sorry, Ssanf, I have to correct that!

    Taxes for individuals are NOT counted by whether the money is received before April 15th!!!

    They are based on what was RECEIVED in the CALENDAR YEAR. So the answer is

    NO, do NOT include December's money since it is received in the next calendar year!!!

    Even though the money was earned in 2001, it is not real income until it is received (2002), so it goes on the 2002 income tax.

    This is assuming that the filing is as an individual. Corporations, I believe, file according to their Fiscal Year which may vary.

    And none of this gets into the Estimated Tax...I am only talking about the standard plain-vanilla filing.

  8. #8
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    I'm gonna owe a couple thousand I know. I did not pay any federal taxes on my regular job because from January - June I was considered tax exempt and still underpaid. LOL!! Hopefully it won't hurt to bad. I have to start taking them out quarterly so I don't get jammed up next year. Ayi-yi-yi. LOL!!! :eek:

    [ 01-03-2002: Message edited by: JadaKiss ]

  9. #9
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    Leader is right. You are taxed on the money PAID in the calendar year. If you earned it in 2001 but have not been paid it, it does not get included in 2001 taxes.

  10. #10
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    Cool - That just takes a whopping load off what I've earned for 2001. [img]/infopop/emoticons/icon_biggrin.gif[/img]

  11. #11
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    Run a web site performance report for "Last Year" The total should be your taxable income! [img]/infopop/emoticons/icon_biggrin.gif[/img]

  12. #12
    Resident Genius and Staunch Capitalist Leader's Avatar
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    Sorry, baaapp...

    That report includes the December earnings which have not yet been paid...(the ones that will go on the 2002 taxes!)

    It also DOESN'T include the Dec. 2000 payment which was received in Jan 2001...

    So to get the real figure you need to add in the Dec 2000 earnings and subtract the Dec. 2001 earnings (from the yearly performance report)! Easy! But easier yet is just using the figure off the 1099 that'll show up.

  13. #13
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    Leader: Thanks for the clarification!
    [img]/infopop/emoticons/icon_biggrin.gif[/img]

  14. #14
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    You don't have to send the 1099 with your taxes but you better be sure that what you file on matches anything you may have on 1099s anywhere.When they first started using
    1099s in the mis 80's they had no way to cross refence them so basically you could wad them up and put in the garbage if you wanted to.Also you had better have some deductions to knock down your gross because
    self employment tax will kill you.

  15. #15
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    Are we SURE that income not reported on a 1099 needs to be included in gross income??

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