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As a freelancer, if a client chooses to pay me in cash or a personal check, and it's under the amount required by the 1099-MISC, if I report it and it adds to my gross income, but they don't, what exactly happens? sorry for the insane run on sentence. Basically i'm wondering, there's been times where I receive 100 cash for a quick consult or something, and I report that in my gross income, but I know there's no way that person is reporting it, and i know they aren't sending me a 1099...does this just throw some flags on their filing? zer0spunk fucked around with this message at 00:03 on Apr 8, 2011 |
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Apr 7, 2011 23:52
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Insurrectum posted:I'm figuring out my taxes right now, and I have a slightly ambiguous situation. I'm a graduate student living in Maryland full time, but my state of legal residence is Pennsylvania (specifically at my parent's house, I need to keep it there so I can stay under their auto insurance). I'm not claimed as a dependent. Since I live here year round, I assume I'm a statutory resident, and thus have to pay Maryland income taxes. However, I received two W-2s this year and was taxed in both PA and MD. The majority of my income was taxed by PA, but a smaller portion was also on my MD W-2. I'm wondering exactly how I should file this year. I had one employer issue me a single w2 for 2 different jobs under their payroll in 2 different states. In my case I filed state tax in both states, obviously claiming non resident status in the state I don't live in.
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Apr 15, 2011 05:49
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I'm self employed but my jobs are varied within an industry (all 1099 though). I started commuting exclusively this year by train. I'm wondering if I can deduct the travel? I've heard varying opinions..To be clear I'm not using public transit to commute to one specific office everyday, rather I'm traveling, sometimes via different methods (NJT, LIRR, Metro North, etc) to go do work for hire and incurring the cost of travel out of pocket 70-80% of the time with the other 20% or so being successful negotiations for travel to be covered by the contractee. Being able to deduct travel would be a big deal.. I'm also wondering if debit/credit transactions from an official bank statement are viable records on the off chance you were to get audited or if you would need physical receipts exclusively. Thanks!
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Dec 29, 2011 00:06
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AbbiTheDog posted:You need the receipts moreso than the bank statement. Without receipts, how is the IRS supposed to know your $1,000 you dropped at Best Buy was really for a laptop and not a plasma TV? My expense is the exact same amount every time throughout the entire year and I have most of the receipts. I don't think they'll look at a $30 train ticket transaction and think I was actually on a jetliner to paris, but I guess that's a risk I'll have to take? The only thing that changes on the actual receipts are the dates purchased, which are shown anyway in the transaction record on my itemized bank statement each month. I figure if I have an actual record somewhere of the travel purchase and then multiple documents to show that the date of the transaction corresponds to the date I did that job that should be more then enough prove in an audit no? In any case: I'm switching over to printing hard copies of the invoice for the job and then putting in the travel receipts and filing them together starting 1/12. Better to have a little filing to do then get screwed. zer0spunk fucked around with this message at 19:19 on Dec 29, 2011 |
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Dec 29, 2011 19:16
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