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music-thetravelers
New Member

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

i'm a musician, my band is the business
1 Best answer

Accepted Solutions
Marketstar
Level 7

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

No, as a sole proprietor or Single Member LLC, you should not issue yourself a 1099 or W-2 to draw from your own business account.

Further, there is no deduction to be made


View solution in original post

3 Replies
Marketstar
Level 7

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

No, as a sole proprietor or Single Member LLC, you should not issue yourself a 1099 or W-2 to draw from your own business account.

Further, there is no deduction to be made


View solution in original post

music-thetravelers
New Member

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

so even if we're only a partnership?
Marketstar
Level 7

Hey, if i paid myself with my small business, do i have to issue myself a 1099?

Are you a multi member LLC?
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