mo money mo problems

[James flames]

ok, i just got back from attempting to do my taxes. there was a new guy, and he told me off the bat (in so many words) that he's a hard ass compared to the guy who did my taxes last year. we started everything, but after a million questions to which i had no answer, we put our session on hold so i can sort my shit out better.

this guy got me all freaked out, it was always pretty easy and straightforward before. i keep very good track of EVERYTHING that comes in or goes out.

so without giving too many details, or asking for too many in return, here's my simple question. i understand that if you do over $600 worth of work for someone in a year, they need to give you a 1099. now a few of my clients are small time, and we didn't do that much money this year. and some of them are also small time, but we did a ton of work - well over $600. i'll assume they're all doing everything on the up and up, but what if they don't? if one of them doesn't claim anything, and i do, then i can potentially get them in trouble. but that freaks me out, cuz like, i don't want to get in trouble either by not claiming money i made.

i know most of us have alot of small time clients - independent bands and labels, etc, so i have to assume this is pretty common. and i know this guy is being a hardass, and it's probably for my own good. but i just don't want any legal trouble, y'know? for me or my client.

hell, i don't even know if posting a message like this could possibly get me in trouble - does the IRS read the gigposters forum? hahahaha. if this is a bad idea, clay please delete this. otherwise, someone please talk me down. thanks.

[ferg2001]

report everything. getting audited is a suckfest of the highest order.

[squeegeethree]

Do what you have to do to protect your business. I think that's the standard operating procedure circa 2007 or 2008. Wait let me check this old Enron employee handbook I happen to have. Yep, "watch your own back" it says.

[Plantweed]

Report everything, and christ on a crutch, if you don't, DON'T write about it in a public forum!

[standard]

1. you do not need a physical copy of a 1099 if you a. know their tax id number and b. kept good records on your own. If you are ever audited and you can't produce the 1099, that's going to hurt someone else, not you. It's not like you're declaring income as a prank.

2. report what you earned. it's not your job to keep other people out of "trouble". Keep yourself out of trouble. if you "think" this dude does everything under the table, I assume that you have not had an explicit conversation with him about it. So again, not your problem.

3. Worrying about the IRS listening in is like worrying about the NSA listening in. They can't afford the manpower.

[andydiesel]

the irs is scary.

i can't wait to get my taxes back from my tax guy this week. then i can refi my house and save $400 a month on my mortgage.

[Mark McCormick]

Report everything, and christ on a crutch, if you don't, DON'T write about it in a public forum!

crime pays when pigs die

[James flames]

2. report what you earned. it's not your job to keep other people out of "trouble". Keep yourself out of trouble. if you "think" this dude does everything under the table, I assume that you have not had an explicit conversation with him about it. So again, not your problem.

covering my ass...good advice. that's what i'll do. thanks everybody.
and yeas, the irs freaks me out. even the old record label - i mean that was a scary looking label to put on a record. anyone remember that?

[andydiesel]

never take tax advice from a sticker printer.

that is the best advice i can give you.

[James flames]

never take tax advice from a sticker printer.

that is the best advice i can give you.

so wait....should i not take your advice to not take your advice? so that means i really do take your advice, right? damn, double negatives always screw me up.