Re: Contractor 1099

["Dishong,Jane" <dishongj -at- OCLC -dot- ORG>]

Tekwriter7 asks about Contractor 1099.  I suspect that Tek is referring to
the IRS form 1099 for earned income (though I could be completely and
hopelessly wrong).  It comes in many forms other than the plain ol' 1099.
1099-DIV for earned dividends, 1099-INT for earned interest, etc.  If you
hold stock or earn interest worth reporting, you may get these early in the
year from those who help beef up your annual income.  As an independent, I
received a 1099 from all clients and I sent 1099s to anyone I used as a
subcontractor.  Works in place of the W-2.  I also paid estimated taxes each
quarter since none were withheld by an employer.  The tax laws for being an
independent can be a bit strict and somewhat confusing.  I found this web
site which may give you a little more information.
http://www.abe1099.com/indcont2.html  Though I offer this site, I am not in
any way affiliated with this business or the IRS (god forbid).  You may want
to talk to a good accountant to help you understand your position and the
things you'll need to keep in mind during your first year.

Others may have already responded more comprehensively to this query. It may
also be in the archives already.   I apologize profusely if this is
redundant.

Jane Dishong \(^_^)/
x5017
mailto:dishongj -at- oclc -dot- org
OCLC, Online Computer Library Center, Inc.
Speaking for myself, and not for my employer.

Credo quia absurdum est.
-I believe it because it is unreasonable.


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