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View Full Version : Outsourcing & Taxes
08-11-2010, 02:30 PM
Are there any tax reporting changes that come along with beginning to outsource work? I know there is a place to mark that we paid contractors for work, but at what point would we need to get SSNs from those we outsource to and then what would we do with that info?
08-12-2010, 07:38 AM
The IRS website can give you the exact info you are looking for. You independent contractors need to fill out a W9 (check with IRS), if you pay them $600.00 or more per year you have to send them a 1099. Check with the IRS or your tax preparer to be sure you have the right forms and are filing correctly.
09-21-2010, 11:59 AM
Hey, I just got a preview of Tax Mama's new book and did a review. You can see the review on my Virtual Assistant Moms site. There is also a link to sign up for a class that I feel is very important. It is not an affiliate link, I just arranged with her to get a cut rate for people I invite via my link, which you can pass on and give your people the cut rate too. It's really important for all of us to make sure we do stuff right and she can help.