2007-12-12 04:30:48 · 6 answers · asked by answers4u 1 in Business & Finance ➔ Careers & Employment ➔ Law & Legal
If so, where in the IRS regs does it specify that an independent contractor may receive a bonus?
2007-12-12 04:43:26 · update #1
.....it depends on what type of independent contractor it is, and what type of business arrangement it is.
For example, a Realtor (who is an independent contractor) cannot accept one from a loan officer with whom he/she is doing deals with.
2007-12-12 04:36:03 · answer #1 · answered by Expert8675309 7 · 1⤊ 0⤋
Yes, but if it's more than a $25 turkey from Kroger, the amount goes on their 1099-Misc just like any other income.
2007-12-12 12:43:55 · answer #2 · answered by Anonymous · 0⤊ 0⤋
i believe so.my dad was a private contractor most of his customers treated him well around the holidays.my dad was a jack of all trades...
2007-12-12 12:53:04 · answer #3 · answered by A.F.1 4 · 0⤊ 0⤋
You know....a Christmas bonus is taxed....why not just put the cash in a card and say thanks that way....Gosh I hate Christmas Bonus'......all it is is more tax...more IRS stuff to think about....AND THAT SUCKS......For your taxes, write it off as a GIFT....so easy...
2007-12-12 13:24:37 · answer #4 · answered by Toffy 6 · 0⤊ 1⤋
Sure
2007-12-12 12:38:35 · answer #5 · answered by Wounded Duck 7 · 0⤊ 0⤋
yes.look at it as a tip
2007-12-13 01:26:38 · answer #6 · answered by theLaw 2 · 0⤊ 0⤋