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1099 limit?

R

Rufio

Banned
This weekend we're gonna do some freelance work, and get about $600 for it. The guys gona pay us 1099 style.

so do we have to claim it? or can we avoid taxes on it? (we live in california)

i was under the impression that if we get under $1,000 we don't have to claim it.
 
If its the only project you are going to get from this company the whole year than i would just lower the price to $599 and you wont' be required to report it.
 
Originally posted by: PhasmatisNox
1099?
Click to expand...

Not sure, but it's something like this.

In most casinos they advertise the max winning of slot machines as" $1099!" because that is the largest amount of money you can win without having to report to the IRS.

Basically, it's one dollar under the legal limit required to report as income.

or... something like that.

Then again, I could be totally off 😛

*edit*

Yeah, totally off, it's some tax form or something.

</no contribution>
 
my wife plays bingo, the only time she has to report any winnings is if she won $1200 or more in one night.
 
we'll be making about $500 for 2 days of work a person...

we just want to know if we can spend it all at the strip club or save some for Uncle Sam!! 😉
 
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