<< As I understand it, you must issue a 1099 to anyone that you pay more than $600 to for services. Does this include attorneys, accountants, and doctors? What about payments to corporations or LLCs? >>Generally, you should issue 1099s for payments of $600 or more for services incurred in the ordinary course of busines. 1099s should be issued to doctors and accountants for services of $600 or more. 1099s should be issued to attorneys for legal services rendered even if under $600.You generally are not required to issue 1099s to corporations. However, this exception does not apply to attorneys and doctors if they are operating as PCs. Confused yet?If you post a specific situation I can tell you what the filing requirements are because there are some other exceptions.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra