tax forms?

[Boogie]

I have not recieved any other than 1 single tax form from any company.

My biggest sponsors still lacking;
ccbill hasnt sent one
nastydollars has not


ONLY adultfriendfinder has managed to get me a form by this time.

I thought the date to 'have to send it' was jan 1st?

or am i wrong lol? Its been a year i cant remember that long

[Toby]

You won't get 1099 forms from most sponsors, although any that paid you over $600 for the year are supposed to send you one by Feb 1st. I rec'd ONE this year, from DHD Media. You just list all the rest as 'Other Income'.

As far as CCBill sponsors, they'd need to send any 1099's themselves, as CCBill is just the processor. I've never rec'd a 1099 from a CCBill sponsor.

[Boogie]

Oh man I use almost 30 CCBill sponsors lol.

I honest to god will have the schedual C from hell.

do you guys do any um, special accounting in this area?

why oh why did i lose that box of check stubs

for what its worth, last year was the very first year I ever had trouble getting 1099 miscs from companies.

[Toby]

I have an Excel spreadsheet that I use to keep track of all checks. The stubs don't get filed away until I've entered the totals under the correct sponsor and month.

I use Quicken for tracking my checking and credit card accounts. I almost never pay cash for anything business related. The key there is consistently entering all transactions, and using the appropriate expense category.

I sat down with Turbo Tax last night and completed my Federal taxes in about an hour.

[MrYum]

Originally Posted by Toby

I have an Excel spreadsheet that I use to keep track of all checks. The stubs don't get filed away until I've entered the totals under the correct sponsor and month.

I use Quicken for tracking my checking and credit card accounts. I almost never pay cash for anything business related. The key there is consistently entering all transactions, and using the appropriate expense category.

I sat down with Turbo Tax last night and completed my Federal taxes in about an hour.

Yep, that's sound advice right there

Quicken or QuickBooks and TurboTax are awesome tools! Toby is absolutely right...the bigget favor you can do for yourself is be consistent in entering transactions and never use cash for business if at all possible.

[Linkster]

Why not just call yourself a company and not worry about 1099s - not required if youre a company although Ive noticed a lot of programs setting themselves up for fines by issuing them needlessly to corporations - I think its still a $25-30 fine for each 1099 they send to someone that wasnt supposed to get one (if they send a copy to the IRS)

[Boogie]

well, that's probably why i didnt get any linkster

I dont have very good records tho. but i'll be fine I think

[mistwist]

Originally Posted by Boogie

I have not recieved any other than 1 single tax form from any company.

My biggest sponsors still lacking;
ccbill hasnt sent one
nastydollars has not


ONLY adultfriendfinder has managed to get me a form by this time.

I thought the date to 'have to send it' was jan 1st?

or am i wrong lol? Its been a year i cant remember that long

you got one from AFF? wow I am surrisd, i always have to beg to get one from them!

[american perv]

I got one from adult.com

[Greenguy]

Originally Posted by american perv

I got one from adult.com

You did? GREAT! We can now close the board & all die because we know that info

[american perv]

Originally Posted by Greenguy

You did? GREAT! We can now close the board & all die because we know that info

yeah, you might as welll huh.

[RedCherry]

Originally Posted by Boogie

do you guys do any um, special accounting in this area?

why oh why did i lose that box of check stubs

for what its worth, last year was the very first year I ever had trouble getting 1099 miscs from companies.

Boogie, depending on your income, I SERIOUSLY suggest considering incorporating. Your corporate tax rates are lower than personal tax rates, you have a hell of a lot more write offs, plus a lot of other benefits. Anything you put on schedule C the IRS can come back later and disallow, which could be a potential pain in the butt.

I keep corporate records in Quick Books. If you haven't kept records, maybe you could sign up for something like stats remote, add all your sponsors in as sponsors from 1/1/05, and it will check all your stats, then show you yearly totals of income. Just a though.

This is my accountant, who helped me incorporate, and I recommend.
http://www.corporateonesource.com His name is Larry, good guy.