A member's company sent me a 1099 for membership fees paid

[Angel Kwiatkowski]

This has happened for the first time in 4 years. Has anyone else gotten a 1099 from a member for membership dues paid?

Angel

[Alex Hillman]

This is generally a mistake in an otherwise confused billing department...unless they paid with a check, in which case it's still a little bit weird. 

In the case of collecting money electronically, your payment processor (Paypal, Stripe, Auth.net, etc) will issue the 1099 that you need to file. For checks, I believe there's a certain amount that they need to hit before you're responsible for a 1099 with them, but double check with your accountant on that. 

Related links for the payment processing part:

http://www.irs.gov/pub/irs-pdf/i1099k.pdf

http://www.irs.gov/Businesses/New-1099-K-Reporting-Requirements-for-Payment-Settlement-Entities

http://www.irs.gov/Tax-Professionals/Third-Party-Reporting-Information-Center

-Alex

--

/ah
indyhall.org
coworking in philadelphia

On Thu, Feb 13, 2014 at 7:44 PM, Angel Kwiatkowski <fccow...@gmail.com> wrote:

This has happened for the first time in 4 years. Has anyone else gotten a 1099 from a member for membership dues paid?

Angel

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[Scott Tillitt / BEAHIVE]

There are a few members who give them to me each year, and the money paid is in the rent column. Some of my members do pay by check. I always chalk it up to coworking running up against traditional accounting rules. If they want to issue, let them issue.

scott.

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On Feb 14, 2014, at 3:12 AM, cowo...@googlegroups.com wrote:

 A member's company sent me a 1099 for membership fees paid

Angel Kwiatkowski <fccow...@gmail.com> Feb 13 04:44PM -0800  

This has happened for the first time in 4 years. Has anyone else gotten a 
1099 from a member for membership dues paid?
 
Angel

 

Alex Hillman <dangerous...@gmail.com> Feb 13 07:55PM -0500  

This is generally a mistake in an otherwise confused billing
department...unless they paid with a check, in which case it's still a
little bit weird.
 
In the case of collecting money electronically, your payment processor
(Paypal, Stripe, Auth.net, etc) will issue the 1099 that you need to file.

For checks, I *believe* there's a certain amount that they need to hit

[Angel Kwiatkowski]

Indeed, they paid with check. I've asked for a void per my accountant's advice. She said that since we report all our income anyway, I could technically ignore the 1099 and it'll all be fine.

Angel

[Craig Baute - Creative Density Coworking]

The 1099K form is a general form of payment that is kind of the 'I don't know where to exactly put this' form. A 1099 form shouldn't be required for services like coworking because a receipt is issued and it's on the user to provide proof. That being said, if they ask it's easy to issue them a 1099K form.

[Barbara Sprenger]

Yes. Whenever we have larger companies, or an employer pays for a member, we get a 1099. Just be sure your income reflects that amount for taxes. Since it's only one member, you certainly have more income than that one 1099!

[Chris Johnson]

If your company is an LLC or a Sole Proprietor you should get 1099 from all of your members.  The reason you probably don’t is tied to how the member is handling their taxes.  The smaller the company the less likely they are investing in getting it done properly.  For years we didn’t issue 1099 to our vendors and we are a member at blankspaces.  It wasn’t until we outsourced that we learned ware supposed to issue 1099s.

 

One interesting catch… if you get paid via paypal you already have the 1099 that you can generate from within paypal.

 

Chris

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[Mike Pihlman]

Yes I got one last year.  

On Thu, Feb 13, 2014 at 4:44 PM, Angel Kwiatkowski <fccow...@gmail.com> wrote:

This has happened for the first time in 4 years. Has anyone else gotten a 1099 from a member for membership dues paid?

Angel

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Mike Pihlman

AltamontCowork / ForCarol.com, Inc.

95 W. 11th Street, Suite 205

Tracy, CA 95376

Phone: 209-757-8862

Web: http://AltamontCowork.com

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Drive Safe! Never Forget  http://ForCarol.com

[Mike Pihlman]

On an unrelated note, apparently this year AltamontCowork's pricing and terms is becoming very attractive to Tracy, CA based Tax preparers.  I have signed up 2 so far and one more is expecting to join this coming week.  

On the very bright side, most of their clients are home based businesses, and the tax folks will be including AltamontCowork's 1/4 page ads with the completed taxes.   A new way to reach out...... 

:-)  

On Thu, Feb 13, 2014 at 4:44 PM, Angel Kwiatkowski <fccow...@gmail.com> wrote:

This has happened for the first time in 4 years. Has anyone else gotten a 1099 from a member for membership dues paid?

Angel

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[Barbara Sprenger]

Hey Mike, we found this, too! Signed up 3 new members involved in tax prep!

Barbara Sprenger

bspr...@thesatelliteinc.com

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