Members WynnD Posted February 21, 2014 Members Share Posted February 21, 2014 I don't mind paying the taxes I owe. Just got a 1099 for the entire year from one club that covers everything paid to the band. Might be a bad joke, because the envelope didn't have a return address. but was sent from the zip code where my former bandmates rehearse. (And sent on Feb 19, 2014. Little on the late side, wouldn't you say.) On the other hand, the accountant's zip is only 1 digit different from mine. Guess I have a stop I need to make and find out if the accountant really sent it. Anyway, more importantly, if this has been sent to the IRS, how do I deal with it being I only received about 1/6 it's total. (Sure makes paying by check a better way of dealing with bands.) Link to comment Share on other sites More sharing options...
Members sventvkg Posted February 21, 2014 Members Share Posted February 21, 2014 Go see your accountant and give him the names of all your bandmates that has to be split up I guess you'll have to 1099s them... I used to get the tax information from the clubs I don't remember if it was a 1099 or not and then I would 1099 all my bandmembers. Link to comment Share on other sites More sharing options...
Members WynnD Posted February 21, 2014 Author Members Share Posted February 21, 2014 It's probably real. Wonder if I need my former bandmates SSNs. My life will be simplified if I don't. What addresses I don't have yet, won't be hard to get. Will look up the IRS instructions and get on it. Thanks. Link to comment Share on other sites More sharing options...
Members SpaceNorman Posted February 22, 2014 Members Share Posted February 22, 2014 Businesses that handle lots of cash are being scrutinized more carefully these days - and as a result, it's becoming more and more common for them to issue bands 1099s at year end. If you're a band leader - preparing for that possibility by ensuring that you get the legal name, address and SSN of the folks who play with you goes a long way. It's really not that big of a deal. Like most bands, we typically get paid in cash or a check (usually payable to me). Throughout the year - I keep a log of the "gross" the band is paid for each gig - as well as what I paid each player. If/when I receive a 1099 from a venue - I go back to the log, confirm that the amount matches what I received from the venue - and tally up what each player's share of the 1099'ed amounts is. Once I've figured out what each player's share is - I use one of the numerous "online" services that will print, mail each player their 1099 and efile the necessary IRS submission associated with it. It takes me less than a half an hour - and costs less then $4 for each 1099 created. Here's a link to one of the services -> 1099 Filing ServiceAt tax time - I fill out a Schedule C-EZ - entering the total amount covered by the 1099s I receive from the various venues we've played on Line #1, then the amount that 1099'ed to my bandmates on Line #2 - then do subtract Line #2 from Line #1 to calculate what was my personal share on Line #3. This amount then gets entered on line #12 of my 1040. The 1099's that I issued get stuck in the folder with the rest of my tax stuff as supporting documentation in the event I get audited. While I could include other legitimate band related expenses I've incurred (equipment depreciation, mileage, etc.) in the amount I enter on Line #2 of the Schedule C-EZ form - I keep it simple and only include the amount I've 1099'ed to bandmates. The amounts are usually small - and my sentiment is that including them may increase the likelihood of an audit. I've got nothing to hide - but would rather avoid the time and headache associated with an audit regardless.It's pretty much a no-brainer. Link to comment Share on other sites More sharing options...
Members maarkr Posted February 23, 2014 Members Share Posted February 23, 2014 Space has the best method for parsing out the other 1099's... thing is, if u are filing a Sched C for the 1099 income as a musician, and the 1099 is the only income you report as a musician, if your name pops up for an audit, you're gonna say that the 1099 gigs was your entire reported musician income for the year? Link to comment Share on other sites More sharing options...
Members Howie22 Posted February 23, 2014 Members Share Posted February 23, 2014 For my band I have the checks made out to me and then distribute checks to my band mates. I track it all throughout the year and issue 1099s. If it is under $600 to one individual, you can claim it without sending a 1099. Link to comment Share on other sites More sharing options...
Members tim_7string Posted February 23, 2014 Members Share Posted February 23, 2014 I understand your apprehension about asking for SSN info from ex-bandmates, especially following a not-so-friendly parting of ways. I had a couple of ugly situations like that in recent years. I didn't bother to ask my former female bassist/vocalist for her info after I let her go two years ago. I did get the info from a guy who was in the band in 2011 (but was fired in Feb 2012).I use a service that SpaceNorman recommended last year called OnlineFileTaxes. It's pretty easy to set up and use. They also send the 1099-MISCs via email to the musicians. If they don't accept it immediately or if they don't have an email, they simply mail it to them instead. It only costs $3.50 for each bandmember/fill-in. If you only have to send 1099s to three guys (like I did), you pay $10.50 and you're done. Easy! Link to comment Share on other sites More sharing options...
Members toober Posted February 24, 2014 Members Share Posted February 24, 2014 They need to stop taking taxes from individuals and keep at at the corporate level where it needs to be with companies who normally hire you know....accountants...people who got a DEGREE for that very thing, not with the lower-middle class who are hoping to stay employed so they can pay next months bills. Simple really, eliminate the individual tax and eliminate tax on smaller companies trying to get going (the mom and pop shops). Increase the tax slightly on companies that make 6 figures a year plus. The government would still get the same amount of money, only from paperwork by accountants (instead of half from the company quarterly and half from the employees once a year). Of course, they wouldn't be able to stick it to us anymore for "tax evasion" when they can't get real evidence of something illegal. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Everyone pays taxes, Tim. No one likes to, but we all pay then anyway. We're all rowing the boat. Link to comment Share on other sites More sharing options...
Members TIMKEYS Posted February 25, 2014 Members Share Posted February 25, 2014 Just having a set or oars does not mean you are actually pulling on them. Sorry I am a flat tax guy. I think its the best way to have a productive society. I feel under that type of tax system more people will succeed in life. We are fast approaching the point where the safety net becomes a hammock. Its my opinion and its really not up for debate. You dont have to agree and I am not going to turn it in to a bazzillion page debate. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Everyone pays taxes, Tim. We're all rowing the boat. Whoever told you that half the people in the country don't pay any taxes was lying to you. You can say your opinions aren't up for debate all you like, but it doesn't change the facts. I'm not debating with you or giving you my opinion. Just telling you the facts. Everyone pays taxes. Many of the people who post in this forum, including many you'd consider friends and many who vote the same way as you fall into the half you think doesn't row the boat. You're insulting them by saying such things. Link to comment Share on other sites More sharing options...
Members TIMKEYS Posted February 25, 2014 Members Share Posted February 25, 2014 guido61 wrote:Everyone pays taxes, Tim. We're all rowing the boat. Whoever told you that half the people in the country don't pay any taxes was lying to you. You can say your opinions aren't up for debate all you like, but it doesn't change the facts. I'm not debating with you or giving you my opinion. Just telling you the facts. Everyone pays taxes. Many of the people who post in this forum, including many you'd consider friends and many who vote the same way as you fall into the half you think doesn't row the boat. You're insulting them by saying such things. Dave you live in an area where you are pretty insulated from poverty as a career path up in Lake Tahoe. Trust me ,, it is alive an well down here on the border and up in the rust belt where i used to live, and to be honest,I cant blame people ,, its in most cases a hell of a lot better than working give the little amout of effort they have to put out. Sooner or later its going to bring down the country. We are well on that path now. Whats sad is that these people are being used by the progressives to gain power , by keeping these people dependant on the people who actually do pay taxes. You can make yourself feel better by spounting your talking points but deep down anyone with a brain knows its true. You can suck a lot more out of the system than you ever pay in sales or gas taxes etc. Free medical, housing, food, cell phones , ,, the list goes on and on. The great society aint all that great guy and sooner or later you might figure that out. Until then lets just drop it. I am not in the mood for another daves circle jerk thread. Lets just pretend you got the last word on this and let it go so we dont have to go through it. I would go for a system where if you choose to just live off the welfare system and are able bodied and made a bunch of stupid choices , you only have to do one thing. GIve up your right to vote. Link to comment Share on other sites More sharing options...
Members BlueStrat Posted February 25, 2014 Members Share Posted February 25, 2014 Everyone pays taxes. Not everyone pays federal income taxes. In fact, nearly 47% don't. Some get "earned income tax credits" where they get back money they didn't pay in because they have kids. I don't blame them for taking it. But even the most progressive of countries like Norway have a system where everyone pays a percentage, even the poor. I lost most of my deductions when my kids all left home and finished college. I get a homeowner's mortgage deduction and whatever I can deduct for music stuff, and not much else. I pay about 15% to the Feds, 8% to the state. I pay 6.5% sales tax, property tax, gasoline tax, excise taxes, not to mention annual license fees which are essentially a driving tax. Communication taxes on our phones, satellite tv and Internet cable. I pay local fire/sheriff tax, since I live in the county. I pay a tax for the local college building fund we voted in. Last time I added it all up I pay just under half my income in taxes. Some I'm okay with, some I'm not. I just wish we had some way to make every taxing entity justify it's expenditures as being essential before asking for more. My dad always thought Election Day ought to be April 16th. Maybe he was right. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Lol, Tim. Whatever. You resort to your standard nonsense where you presume to know anything about me based on where I live, and accuse ME of repeating talking points when you're the one sounding like a talking head on a cable news talk show going on about half of people not paying taxes All I'm telling you are the simple facts: EVERYONE pays. We all are entitled to a say. You're no better than anyone else in this country nor deserve more of a say in where the boat is headed than anyone else. Link to comment Share on other sites More sharing options...
Members TIMKEYS Posted February 25, 2014 Members Share Posted February 25, 2014 Yea dave everyone pays ,,,, but you have no idea of how idea of what the price they pay to have their votes bought by liberal progressives in this country. This is what we deal with down here, and this is what liberals are doing to the people just to get the votes. Its really sad. These are good people who are having their lives destroyed by gov policy. Being poor is one thing ,, this is human abuse at the hands of government. http://www.washingtonpost.com/sf/national/2013/11/09/too-much-of-too-little/ While some will point at the big corps that make the junk food ,, its more a matter of they dont eat like the poor do just across the rio grande. Its big gov assistance thats the real issue. Its might be better to just stay out of the way and let people be poor the old fashion way, like they do across the border, or give them rice and beans and traditional food for the region. Food stamps are big time evil for so many people here and in the rust belt inner cites. But by gosh they do keep them voting for democrats. the donk solution is to spend money with educational programs , when they really need to just let them live a more traditional life because you wont ever break the cycle any other way. Warren buffet is a big junk food mogal ,,, an a liberal. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Not sure what that has to do with paying taxes, but whatever Tim. I won't get in the way of your latest off topic political rant. Link to comment Share on other sites More sharing options...
Members TIMKEYS Posted February 25, 2014 Members Share Posted February 25, 2014 guido61 wrote:Not sure what that has to do with paying taxes, but whatever Tim. I won't get in the way of your latest off topic political rant. Yea its OT for sure ,, but its really sad. Its big gov gone bad and a good example of the kind of poverty we see down here. How it relates to taxes are used to fuel poverty and misery to people who may well be better off if we just left them alone. Trust me , you dont see this kind of poverty in lake tahoe. Its one of my big beefs with liberal progressives. I agree people need help, but I do think they would make better choices if it wasnt so damb easy to be poor and the ever growing welfare state thats being created before our eyes. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Yes. Get rid of food stamps and the minimum wage and raise the taxes on the poor! Then all those poor people will be so much better off!Yes, votes are paid for, but it's the paid votes in congress you have to be worried about. Not the poor immigrants who don't bother to vote anyway. There was a bill in congress a couple of years back to disallow junk food from being able to be purchased with food stamps. Guess who stopped that from happening?(Hint: it wasn't poor people marching on Washington demanding their "free" Dr Pepper.)http://www.salon.com/2013/05/20/big_soda_snap_ing_up_billions_off_government_programs_partner/ Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Yes. Tim. No poor people in Nevada. Or Tahoe. Never seen one in my life. Lol. If you wanna play politics, then you might want to look at the conservative policies that crashed the economy and put so many more people on food stamps in the first place. Link to comment Share on other sites More sharing options...
Members sventvkg Posted February 25, 2014 Members Share Posted February 25, 2014 Everyone pays taxes, Tim. No one likes to, but we all pay then anyway. We're all rowing the boat. --David Dave....What do you mean? As far as income tax is concerned, currently 43% of Americans pay zero income tax.http://www.businessinsider.com/43-of-americans-dont-pay-federal-income-tax-2013-9 Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 You think the federal income tax is the only tax there is??? Everyone with a job pays federal payroll taxes. Everyone with a car pays federal gas taxes. And that's not even counting all the state and local taxes everyone pays. Why all this fixation on the federal income tax? It probably wasn't even the biggest tax you paid last year. Link to comment Share on other sites More sharing options...
Members Vito Corleone Posted February 25, 2014 Members Share Posted February 25, 2014 Did you actually look at that link you posted, Sven? Only 14,4% of Americans pay no federal income or payroll tax, most of which are retired people. Of which Tim is one. Lol. Link to comment Share on other sites More sharing options...
Members sventvkg Posted February 25, 2014 Members Share Posted February 25, 2014 Uh yea...I was obviously just referring to Fed Income tax...I understand we're taxed up the arse, and you're in one of the 3 worst places for it!! My wife gets hit but since I don't have a real job and we have kids, it's not that bad...Still It sucks...No state tax here as I'll never live in a hell hole state with it again but the sales Tax is 9.9%..Got used to ZERO taxes in AK and it makes me sick to pay them but I hate the Govt, and make no bones about that. Link to comment Share on other sites More sharing options...
Members StratGuy22 Posted February 25, 2014 Members Share Posted February 25, 2014 Jesus. Link to comment Share on other sites More sharing options...
Members Fiveafterfour Posted February 25, 2014 Members Share Posted February 25, 2014 ...was a Liberal, and therefore, according to TimFoilHatKeys, apparently to blame for all that's wrong in this country. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.