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posted Oct 30, 2019 11:54:20 AM

Self employment tax

Hi,

I am currently self employed and I work in many buildings in NYC where I have hire architects and engineers for DOB filings. I get paid in personal checks from my clients and I deposit those checks in my personal bank account. I do have a company registered with the state etc. but I don't use it.

When I pay architects and/or engineers from my personal bank account, am I obligated to give them a 1099 form? Or how does this tax process for hiring independent contractors work? Am i responsible for claiming their taxes?

Thank you for your advice.

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1 Replies
Level 15
Oct 30, 2019 6:23:03 PM

@ehaqueny wrote:

When I pay architects and/or engineers from my personal bank account, am I obligated to give them a 1099 form?

Yes, with limited exceptions, you have to issue a 1099-MISC if the payment is made in the course of your trade or business and the amount is $600 or more.

 

See https://www.irs.gov/instructions/i1099msc#idm139665634605616