#409 Open Forum Q & A | Your Tax and Legal Questions!
Main Street Business
Mark J Kohler and Mat Sorensen
2.4 • 584 Ratings
🗓️ 16 December 2022
⏱️ 62 minutes
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Summary
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| 0:00.0 | My question is about how and when you need a 1099, when you need to 1099 a contractor or company. |
| 0:06.0 | If the contractor doesn't ask me over the forms, I won't 1099 them. Is that wrong? Yes. |
| 0:11.2 | His S-Corp should be an owner of this LLC. Okay, everybody, this is an important point. |
| 0:16.8 | He says, my S-Corp, I get, my S-Corp gets paid $100,000 in which I also hold a 20% state. |
| 0:28.2 | The services provided by the family management company. |
| 0:30.9 | So let's think of a janitorial business, little family janitorial business, providing services to the S-Corp by cleaning the office. |
| 0:39.5 | Okay. |
| 0:40.9 | Should strictly be non-taxable to this by the state to avoid state sales tax. |
| 0:48.2 | Correct? |
| 0:49.9 | Welcome everybody to this week's episode of the Main Street Business Podcast. Mark Kohler here. |
| 0:55.5 | I'm flying solo. |
| 0:56.9 | This is like the good old days when it was the quote unquote Mark Kohler show. |
| 1:01.2 | Matt Sorensen is out of town. |
| 1:03.2 | He's actually at one of our other offices doing training. |
| 1:05.9 | So I get to handle the show today. |
| 1:07.6 | And it's open forum where I'm going to do my best to answer your questions |
| 1:11.3 | that you posted on the website at Main Street Business Podcast. A lot of good questions here. |
| 1:16.6 | More than I can answer, some of them, they're tough and I'll put you in the right direction |
| 1:24.0 | if I don't have the answer. I'm gratefully, you're sticking to tax and legal, small |
| 1:28.6 | business, scaling, grow your business questions. |
| 1:34.8 | You've kept out all the questions related to sports, politics, world hunger, all those. |
| 1:41.3 | Yeah, I have no answers for those. |
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