1099

[Gina Carter]

----- Original Message -----
From: <pianolover@worldspy.net>
To: <pianotech@ptg.org>
Sent: Tuesday, February 15, 2000 3:16 AM
Subject: 1099

Terry,

> I have a question for other floor tuners out there, (In California) like
me who have not yet started there own business. Even though we work for a
piano store, we are (at least in my case) considered  "independant
contactors", and we get a  "1099" form at the end of the year.

That is the smart thing to do for the dealer. However, if that is the _only_
work you do, the dealer probably can't claim that you are a subcontractor.
Broadly interpreted, IRS rulings say that working for the dealer must be a
part of your income, not all of it. In other words, to qualify as a
subcontractor requires that you have more than just one source of income.

>Do we have to make quarterly statements,>

Yes. If you don't, the IRS adds penalties to what you should have paid
quarterly.

< or just pay our taxes at the end of the year? >

If your quarterly payments do not total the amount owed at the end of the
year, you pay the remainder. If you've over-payed, the overage will be
applied to the next quarterly payment.

>I appreciate any help in this area, until I can meet with an accountant,
which may not be for a while. >

Hie thee to an accountant now! Ask your co-workers, friends, etc. for a
recommendation then call and set up an appointment for an hour consultation.
The information you learn will more than pay for itself. The accountant will
tell you what is deductable, what isn't, how to set up your quarterly
payments, etc. Pay a small amount now or pay a lot later.

Gina