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  #5  
Old 02-03-2007, 06:33 AM
Harlan Lunsford
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

Timothy J. Trace wrote:
- quote -

> Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:

> > I'm flummoxed by your question, since my impression is that
> > you are in the UK. Why are you filing a US federal return?
> > Do you have income over on this side of the pond?


> Hey, Harlan - thanks for the advice. Like many others, I
> obfuscate my email address to hide from spam bots. Check my
> signature again and you'll see what I mean.


Well, if it were "TSYS", I would know you're in Columbus,
GA, home of Total Systems, credit card processor
extraordinaire.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #4  
Old 02-02-2007, 05:51 AM
Timothy J. Trace
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

Harlan Lunsford <hnslunsford[at]bellsouth.net> wrote:

- quote -

> I'm flummoxed by your question, since my impression is that
> you are in the UK. Why are you filing a US federal return?
> Do you have income over on this side of the pond?


Hey, Harlan - thanks for the advice. Like many others, I
obfuscate my email address to hide from spam bots. Check my
signature again and you'll see what I mean.

Best regards,

Tim ==
(substitute 'tcsys.com' for 'nospam.co.uk')
_________________

Visit the Surrender Dorothy web !! (http://dorothyrocks.com)
Visit the Crunch Monkey web !! (http://crunchmonkey.com)

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #3  
Old 02-01-2007, 12:39 AM
Benjamin Yazersky CPA
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

"Timothy J. Trace" <tim[at]nospam.co.uk> wrote:

- quote -

> As a band leader, I pay thousands of dollars in agent
> commissions yearly. In previous tax years, I've simply
> entered the appropriate amount in the Commissions box on my
> Schedule C and moved on. Should I also send a 1099 to each
> agent for their respective total commissions?


YES!
DEFINITELY!

DO IT YESTERDAY

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #2  
Old 02-01-2007, 12:39 AM
Harlan Lunsford
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

Timothy J. Trace wrote:

- quote -

> As a band leader, I pay thousands of dollars in agent
> commissions yearly. In previous tax years, I've simply
> entered the appropriate amount in the Commissions box on my
> Schedule C and moved on. Should I also send a 1099 to each
> agent for their respective total commissions?


I'm flummoxed by your question, since my impression is that
you are in the UK. Why are you filing a US federal return?
Do you have income over on this side of the pond?

anyway, and if so, a 1099=misc would be in order, yes.

ChEAr$,
Harlan Lunsford, EA n LA

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #1  
Old 02-01-2007, 12:39 AM
Paul Thomas, CPA
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

"Timothy J. Trace" <tim[at]nospam.co.uk> wrote

- quote -

> As a band leader, I pay thousands of dollars in agent
> commissions yearly. In previous tax years, I've simply
> entered the appropriate amount in the Commissions box on my
> Schedule C and moved on. Should I also send a 1099 to each
> agent for their respective total commissions?


Yup. And to anyone else that did not qualify as an employee
who you paid more than $600 to during the year. This could
be recording studios, photographers, artists (thinking of
cover art on the CD's), studio musicians, back-up vocals,
etc.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net
Athens, Georgia

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 
Old 02-01-2007, 12:39 AM
Shyster1040
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Posts: n/a
Default Re: Muscian paying agent commissions - 1099?

Yes. See Code Sec. 6041; Treas. Reg. 1.6041-1.

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
  #-1  
Old 01-31-2007, 09:12 PM
Timothy J. Trace
Guest
 
Posts: n/a
Default Muscian paying agent commissions - 1099?

As a band leader, I pay thousands of dollars in agent
commissions yearly. In previous tax years, I've simply
entered the appropriate amount in the Commissions box on my
Schedule C and moved on. Should I also send a 1099 to each
agent for their respective total commissions?

Best regards,

Tim ==
(substitute 'tcsys.com' for 'nospam.co.uk')
_________________

Visit the Surrender Dorothy web !! (http://dorothyrocks.com)
Visit the Crunch Monkey web !! (http://crunchmonkey.com)

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >
 

Tags
1099, agent, commissions, muscian, paying
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