#412 The Scary Truth About 1099's and Subcontractors

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 11 January 2023

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Mark and Matt as they discuss some facts and truths that you may not know when it comes to 1099's and subcontractors! Don't miss out on this weeks episode of the Main Street Business Podcast. To submit a question for the next open forum show, or to learn more, visit https://mainstreetbusiness.com/ Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main...

Transcript

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0:00.0	Before we got on, just brushing up my skills on California's 1099 independent contractor rules,
0:05.5	because those are freaking wacko. They're different from the IRS shock.
0:07.9	You mean California would have a different rule than the other 49 states? Not California.
0:13.4	We're going to come to the business perspective on this when you're hiring subs or people here in a minute.
0:18.2	And I want to talk about nannies. Maybe nannies is a good transition to go from personal.
0:22.5	Somewhere in between personal and business is a nanny or a household employee.
0:25.9	Sometimes you want someone to be an independent contractor to you.
0:28.9	Sometimes you want them to be an employee to you.
0:31.8	Welcome everybody to this week's episode of the Main Street Business Podcast.
0:35.7	Here's truly Mark Kohler and the amazing Matt Sorenson,
0:38.6	excited to be here with you in this brisk, cool January.
0:43.7	Whatever weather you've got, but it reminds me of,
0:46.6	oh, it's time to get my 1099s out and my W-2s and, you know,
0:51.0	so that's what you think about that on the podcast today.
0:53.9	Yeah, well, you work. I about that on the podcast today. Yeah, what you work.
0:55.5	I wish I was thinking of skiing, which I will be doing this weekend, though.
1:00.7	But, you know, we are at work.
1:03.0	I am at work today.
1:04.1	Okay.
1:04.4	And I was doing some reading before we got on, just brush it up my skills on California's 1099 independent contractor rules,
1:12.6	because those are freaking wacko.
1:14.1	They're different from the IRS shock.
	...

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