Self Employed, Do I Need To Make Myself A Form 1099?

Question

I do bookkeeping for a small business.
Since I have no ownership interest, I work as an independent contractor.
I also make myself a check monthly for my services and have it signed by the owner.
I do not withhold taxes and settle up at the end of the year since I have other sources of income.
Do I need to make myself a Form 1099 since I do the books, write my own check, and know what I made last year?

bostonian...
Sometimes I prefer to ask a question again because I like to get a cross section of different responses.
When I asked last time, it was late at night and received less responses than expected.
I thought asking during the day might yield more results.

Answer 1

In order to maintain the separation between you and the company, I would. You may not have to mail your copy, but it's a good idea to send them in to the Fed and State. A good test is-- if this were someone else, what would I do?

Answer 2

It would not have something to do with despite in case you have a freelance or no longer. The IRS has back and back gained proceedings the place a freelance replace into relied upon to prepare non-worker status, even if it is not suitable. putting fake antlers on the dogs could desire to no longer prepare him right into a reindeer. this may be a "info and situations" query. There are literally 20 questions that the IRS and courts use to be sure worker vs. nonemployee status. yet it rather is in basic terms whilst the info recommend a grey section. there's a real elementary query I ask my consumers, and it smokes out the respond ninety 9% of the time. "whilst did you start up off your individual employer?" the reality you stated "I artwork for a dance studio..." potential you're an worker. in case you have been self-employed, you will possibly have stated "I very own a employer that sells to bounce studios." it rather is nowhere close to to a grey section. you're an worker. Your employer is heading off employment taxes, and additionally you're devoid of workers comp coverage and unemployment comp coverage. the undertaking is that all of the IRS cares approximately is getting the tax paid. on the federal point, you will owe 15% of the quantity as self-employment tax, then you definately get to function on earnings tax. count extensive style in state, and additionally you should finally finally end up paying a million/2.

Answer 3

The answer hasn't changed since the last time you asked the question -- and picked my response as the best answer. If you were paid $600 or more for services rendered, you should cut a Form 1099 for yourself.

Since you know how much you received, it's not so much that you need your copy, but the IRS most certainly DOES need THEIR copy.