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Real Deal
by Brian Austin Whitney - 05/07/26 01:38 AM
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Flyte
by Gary E. Andrews - 05/06/26 05:36 PM
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Joined: Apr 2001
Posts: 10,240
Top 10 Poster
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OP
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We're preparing everything to go to tax preparer... Can you tell me.... (in HIND sight) Who all you folks send 1099's to? do you send to demo producers? do you send to graphic designers? collaborators? etc.... been doing a lot of reading...and saying a lot of uh, oh!!'s... thanks for any light you can shed.... best.... Kaley 
Last edited by Kaley Willow; 03/11/09 07:23 PM.
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Joined: Nov 2003
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Top 40 Poster
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Technically, I think one is supposed to send 1099s to everyone you paid more than $600 to. If it's under $600, I'd ask them if they want one. (Some people don't.)
Joe
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I believe 1099's are if you paid interest to someone. Banks that pay interest to a customer on a CD or Checking account will send a 1099. Unless you are in the Loan Business I don't think you will be using a 1099.
Ray E. Strode
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Joined: Nov 2003
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Ray, I think those are 1098s for interest. You're supposed to get a 1099 if you got money from somebody that wasn't wages. When I won 2nd place in the Oregon State Fair Talent Show ($650), come January I got a 1099 from the State Fair people (and had to declare the income on my tax return).
Joe
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Joe and Ray.... Thanks.... With the New CD last year....I'm doing a few hindsight whoops's..... I get 1099's for royalties and they are less than the $600... amount. And what I was reading yesterday....on various songwriting tax sites...was really confusing. It said if you've paid out $600 example..to a guitar player....You should send out a 1099... Then I started wondering what about replication, demos...etc. Well this tax year will be an experience....thank you all... If anyone else has any tax experiences songwriting wise... advice....would love to hear them...... it's not a subject talked about much..... P.S...Joe...that is a pretty cool award amount!!!..good on you!.... best..and thanks to you both, Kaley
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Joined: Nov 2003
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Kaley, just one additional thought. You don't have to send a 1099 to a *company* you bought stuff or services from. It's just for, well, *people*. If you paid (say) Paramount Group $10,000 to do a demo (and I would hope you wouldn't do that), they wouldn't need a 1099. But if you paid *me* $10,000 to do a demo (I'm available, by the way), I would need a 1099.
I have worked for a couple of cities where the accounting system was pretty primitive, and I just let it send 1099s to *everybody*, without bothering to try to tell the 'puter to exclude the folks who made less than $600. It's usually not a big whoop.
Lots of luck.
Joe
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OK....so that's the difference.....!! Ok...that was not clear to me....thanks, Joe..gotcha! ..Well my demos are always under 500.....but IF you have multiples done...they can add up...but again most were to companies or LLC's.... Just some things I was reading were very confusing... There is a lot of interesting things on this ...and maybe a good thing for songwriters to read up on.... just plug in 1099;taxes;hobby;profit;loss;collaborators;royalties; expenses;into search engines...and connect any of those words with songwriting... good articles and some eye openers too. uh...sorry Joe...oh good grief..me thinks a few others amongst us er' takin the 10,000 seriously...  ...... But should I e'r do that?... Would u please remind me kindly ...eh? with a few SWIFT kicks to my back side... thanks, Joe..appreciate...and thanks to JPF...I have never felt ensnared by paramount er the likes....but you?..certainly best.... Kaley
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