ACT what do you think?

Posts from Old Forum (Pre August 2003)
Anonymous

Re: but ...

Post by Anonymous »

you mention adding an EIN#, it seems to me that the only reason why they might require it would be for the purpose of issuing a 1099.

Since I would not be a sub-contractor, merely a payable that they can charge off to COB, why would they "want" that info, but for the purpose of steering tax agents, referrals or trying to make life difficult for the "little" guy.

So long as I get paid within a reasonable amount of time (30-180), it ain't worth the hassle of spending hours of time to collect 50 bucks, especially if it will eventually show up. However, I have, in the past, opened lines of credit with my bank and secured with my receivables. Amazing how when a bank goes after some entity for money they get a more timely response than I might ever have obtained

See what happens when you enter a negative DUNNING code on a business sometime
Anonymous

While ...

Post by Anonymous »

DaveC,

I don't make the rules. I only follow them...that is the ones I feel are not worth bucking and will have legal repercussions. I have no problem operating in the gray area though when ever possible (cash jobs). The issue of TAXES is not one of those areas for me. It is not worth creating waves for yourself with the real possibility of tax legalities when paid by traceable means. This information they look for may or may not be needed legally but it is the curve ball they throw so in order to get paid more efficiently you have to be able to hit the ball. If you know how to get the pitcher to throw a different ball by all means share the wealth.

Not sure why you would be spending hours to collect your money though!

Pay it foward,

Brian
www.safeglasstechnologies.com

[email]"info@safeglasstechnologies.com"[/email][/email]
Anonymous

Re: While ...

Post by Anonymous »

Believe me, I have learned my lesson when it comes to reporting income for tax purposes. I sometimes feel that Bin Ladin would be found in a heartbeat if they pulled the military off of the job and promised an IRS agent a bonus for finding him

Thanks for the advice, it is definately well received
Locked

Who is online

Users browsing this forum: No registered users and 8 guests