Karaoke Forums

I have had larangitis for 9 days now. I had to get a replacement host for one of my shows. Just wondering how to make the payout for my books. I dont really want to start employee things etc. Anybody else had to do this if so how did you enter the transaction in your paperwork. I dont get paid in cash and dont really want to start all that stuff.

Thanks,

L17

Im assuming the replacement would be using your equipment. If that is the case I would get his/her information Name, address, and social security number and send him/her a 1099 at the end of the year. This way the replacement would be responsible for paying his/her own taxes. As far as tracking this information you could do several things depending on the size and volume of your business. It sounds like your not doing a lot of gigs at this time if so you could use excel to track basic income and expenses.

It would depend on what she looked like....

If the total amount for the year is under $600 you don't have to do anything I believe. More than that yeah... you'll need to send out a 1099 next January, just like you probably get from your clubs if you want to deduct it.

I think we have some accountants in here who may have more to say.

You have to report anything over $400.00 but for the one paying you want to issue a 1099 regardless because it comes right off of your reported income.