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Old 02-11-2006, 06:26 PM
Stuart A. Bronstein
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Default Re: Eating cost of backup withholding OK?

"accounting noob" <paul.hung[at]gmail.com> wrote:

- quote -

> In the past year I started my own business. I needed help
> so I enlisted the help of a few contractors to help out with
> some jobs. Being a complete amateur, I didn't collect their
> TINs. Since I've already paid them, I can't do backup
> withholding. Is it possible to eat the amount to withhold
> in relation to the amount I paid my contractors? I know
> that it will be more than what the contractors would report
> on their own, but the amount I paid them is so little, I
> don't really have the heart to do so. Yes... a complete
> amateur as I said.


You're not alone. Call them and ask for their TIN's. You
may be pleasantly surprised.

Stu

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 02-09-2006, 04:12 AM
accounting noob
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Posts: n/a
Default Eating cost of backup withholding OK?

In the past year I started my own business. I needed help
so I enlisted the help of a few contractors to help out with
some jobs. Being a complete amateur, I didn't collect their
TINs. Since I've already paid them, I can't do backup
withholding. Is it possible to eat the amount to withhold
in relation to the amount I paid my contractors? I know
that it will be more than what the contractors would report
on their own, but the amount I paid them is so little, I
don't really have the heart to do so. Yes... a complete
amateur as I said.

Thanks for the help.

Paul

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

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backup, cost, eating, withholding
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