When 1099
August 14th, 2010
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Question: When are you required to start withholding 1099.?
I know you are required to file a 1099 when you pay a business $600 or more in a single calander year. When are you required to start withholding the 28% if the vendor refuses to provide their tax id number?
Answer: With the first payment, if the vendor has refused or failed to provide their tax ID number. ALL payments are subject to the 28% backup withholding if you don't have a tax ID number on file.
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Upside-Down? Go Short
In San Diego’s hemorrhaging real estate industry, it’s better to be upside-down and rich than upside-down and poor. That may sound axiomatic — it’s always nicer to be rich than poor — but carriage-trade folks whose homes are underwater can work the system more easily than poor folks in the same sorry situation.
Game3 vs CPU-1099
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