Quote:
Originally Posted by JimmyStephans
So, back to the main issue - USE THE DAMN FORM.
By The Way - I NEVER buy anything from anybody that isn't a registered company (EIN) or doesn't want to give a receipt.
Did you know that if you go out and buy a $2000 used camera from a guy on Craigslist today, and you want to consider it a business expense, you need to report that payment on a 1099 to him and your year end transmittal to the IRS (Which means asking him for his SSN) - or have a receipt made to you from a company that has an EIN?
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I also NEVER pay models in cash any longer. I always type a business check. She can take it and cash it herself so I have a record that the payment was made. Checks are proof that the person exists in eyes of the IRS because its deposited in a bank of hers, or she used a check cashing service that checked her ID, or my own bank she walked into that checked her ID, etc.
Use the correct forms for everything. Then double check them.
Jimmy
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great solid info and even use wire transfer if possible
