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Freelancers -- are you ready to issue 1099s to stores?

Discussion in 'Journalism topics only' started by EStreetJoe, May 6, 2010.

  1. EStreetJoe

    EStreetJoe Well-Known Member

    Not sure if this should go here or in Anything Goes, so mods feels free to move it if needed:

    I take that to also mean that a freelance journalist who buys a new laptop for his job has to issue a 1099 to the store he/she bought the laptop from (if it cost more than $600). It would also mean if a freelancer bought more than $600 in supplies from a single company that he/she would have to issue that store a 1099 as well.

    I wish them luck in enforcing this provision because I doubt that individuals know how to issue a 1099.
  2. Without access to every American's banking records, how could they possibly enforce this? Even if they did have that information, how could someone decide how much of what you purchased was for business purposes when so many freelance journalists aren't incorporated and mix their personal funds with their freelance earnings?
  3. Clerk Typist

    Clerk Typist Guest

    The IRS can easily get access to anyone's banking records. And any freelancer writing off business purchases should be filing the form for that (4562, I think) with the 1040. That provides a spot for the freelancer to detail the percentage of certain purchases (including computers) that are business use.
  4. Armchair_QB

    Armchair_QB Well-Known Member

    Yes, this was a good idea. I'm glad it passed.
  5. I guess I've never made enough money in a year to bother learning much about tax code.
  6. MCbamr

    MCbamr Member

    Getting access to your bank records is in another bill. Gosh, be patient.
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