Sending 1099 to your Carrier

[Bruno]

How many people send a 1099 to their carrier for QC/C-link charges and fee's they charge. This is income for your carrier and you should be sending them a 1099.

 

[greg334]

You are not paying them for a service, hence the 1099 is not needed.

Your contract has been agreed on and the access fees they charge is part of the package.

I think that it comes down to whether you want the access to their client base and just deal with the idea of them recouping then oc, or being an owner who spends energy nitpicking over pennies.

 

[xiggi]

I'm certainly no tax expert but I think I need to see the irs rule on that one to be convinced.

 

[jjoerger]

Why bother? It's already a tax deductible business expense.

 

[greg334]

The IRS really has nothing to do with this, it has to do with the idea that a carrier can charge a fee and make money with that fee which doesn't seem right by the few who see it as ripping them off.

 

[Dreamer]

Then drive for a carrier that doesn't use them, if it's that big a deal LOL.. to me, it's just a business expense, no big deal.


Dale

 

[Bruno]

Then drive for a carrier that doesn't use them, if it's that big a deal LOL.. to me, it's just a business expense, no big deal.


Dale

Dale it was just a question that was brought to us by an accountant that sent my uncles repair business a 1099 a few years ago. I thought the same as you did Greg. Last year our tax return was held up by the IRS because the insurance company sent a 1099 to the repair shop in our name and we knew nothing about it and never got it. They fixed it and sent the 1099 to the repair shop. I called our carrier and asked for their fed Id number as we was told that fee's that our carrier charges us that our over $600.00 a year are to be reported to the IRS as income. QC/Clink may be something to ask Frank about as I don't know to be honest.

 

[Dreamer]

Dale it was just a question that was brought to us by an accountant that sent my uncles repair business a 1099 a few years ago. I thought the same as you did Greg. Last year our tax return was held up by the IRS because the insurance company sent a 1099 to the repair shop in our name and we knew nothing about it and never got it. They fixed it and sent the 1099 to the repair shop. I called our carrier and asked for their fed Id number as we was told that fee's that our carrier charges us that our over $600.00 a year are to be reported to the IRS as income. QC/Clink may be something to ask Frank about as I don't know to be honest.

It's in their accounting somewhere, they have to record all fees charged as income, then what they pay as expense... it's reported to IRS.. it has nothing to do with us.


Dale