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January 13, 2020
10:08 AM
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January 13, 2020
10:08 AM
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I hire 2 independent contractors personally to do a radio show for the company I work for and pay them gross from my net income. Can I 1099 them as an individual?
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I hire 2 independent contractors personally to do a radio show for the company I work for and pay them gross from my net income. Can I 1099 them as an individual?
Not if you are an employee who gets a W-2. Yes if you are self employed reporting on a Sch C.
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I hire 2 independent contractors personally to do a radio show for the company I work for and pay them gross from my net income. Can I 1099 them as an individual?
If you are self-employed and paid them more than $600 each during the year, you should issue them forms 1099-MISC.
Whether you can deduct this expense from your income depends whether you are an employee or a self-employed person.
If you are an employee, this is a job-related expense and you cannot deduct it as the itemized deductions for job-related expenses subject to the 2% of AGI floor are suspended for expenses incurred after December 31, 2017 through 2025.
If you are self-employed, you can deduct this expense from your income and categorize it as Contracted labor.
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