FAO any CPA/accountants - simple question

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  • shosh
    Banned
    • Jun 2004
    • 4668
    #1

    FAO any CPA/accountants - simple question

    My income is strictly based on commission but the company I work for W-2s my commission, if I pay out any subcontracted employees can I do it on a 1099 and not be taxed on that portion of my W-2?

    I hope this makes sense. If it doesn't let me know.

    Thanks in advance.
    Tags: None
    • Huggie Smiles
      Anyone have Styx livesets?
      • Jun 2004
      • 11826
      #2
      Re: FAO any CPA/accountants - simple question

      I'm blue da ba dee da ba die..........
      ....Freak in the morning, Freak in the evening, aint no other Freak like me thats breathing....




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        • shosh
          Banned
          • Jun 2004
          • 4668
          #3
          Re: FAO any CPA/accountants - simple question

          Originally posted by Huggie Smiles
          I'm blue da ba dee da ba die..........
          im loling really loud haha. not get out of my thrad!!!

            Comment

            • shosh
              Banned
              • Jun 2004
              • 4668
              #4
              Re: FAO any CPA/accountants - simple question

              noone?

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                • ddr
                  DUDERZ get a life!!!
                  • Jun 2004
                  • 7006
                  #5
                  Re: FAO any CPA/accountants - simple question

                  income is income... if you get a 1099, the IRS knows about it and you have to report that as 1099-misc income.

                  the person receiving that 1099 has to report it as above and will be taxed on it, both federally and if your state has income tax.

                  the only difference is that you will not be taxed on it from a social security level, i believe.

                  i hope this answers your question?
                  "pics or stfu" - R.I.P. Steve "Jibgolly" James

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