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Confused Doctor
Jan 7, 2013 - 12:12AM
Re: Independent Contractor/Partnership Expenses

Hi Andrew,

I have one quick question...I believe that in general, all companies except for corporations need to be issued 1099s for payments over $600. Therefore, would I need to issue 1099s to the billing/collections company and medical group (for the overhead and buy-in fees) discussed above? Once again, any help you can provide would be greatly appreciated! Thanks!

Zip Code: 75041

a
Andrew Schwartz CPA
Jan 8, 2013 - 10:15PM
Re: Independent Contractor/Partnership Expenses

The rules require that you issue 1099s to any unincorporated business that you pay more than $600. It's my understanding that includes LLCs as well.

You also need to issue 1099s to certain corporations including law firms and healthcare providers. The 1099-Misc rules can be found here:

http://www.irs.gov/pub/irs-pdf/i1099msc.pdf.

If you want my firm to help you out with this, we'd be happy to do so. Our fee is $75 for the first 1099, and $10 for each additonal 1099. You can contact me through the MDTAXES site.

Zip Code: 01801

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