Anyone missing 1099s?

[Meghan28]

I have not received 2 1099. Wondering if the mail is just a little slow right now. Anyone else have outstanding 1099 you have not received?

 

[billyb]

I input every check I receive during the year into my accounting software and report that amount even if it doesn't match a 1099 that I receive. I have written business with so many companies over the years who knows if I get all of my 1099's. Don't you have to earn $600 before a company will issue one?

 

[BibH]

All you have to do is call the IRS and they'll mail you a copy of all the 1099's they got.

 

[somarco]

$600 is the IRS threshold. I have had carriers send in a 1099 in the past for less than that amount. I don't track 1099's. Just report what is deposited into my business account.

Humana insists on depositing into my business account yet issuing a 1099 under my SS not my FEIN.

They can't seem to get it right.

 

[billyb]

I get 1099's issued both ways too. Some companies I am licensed as an individual and some as a S Corporation. My CPA told me that was OK. Like somarco I report everything and it is always more than what my 1099 total is.

 

[Life Hawk]

Wondering what companies some of you are waiting on. I think I'm waiting on trans and a few others.

 

[NSRH]

You guys are crazy to be paying taxes on advanced commissions. My CPA classifys that as deferred income.

 

[FinalExpenseDojo.com]

You guys are crazy to be paying taxes on advanced commissions. My CPA classifys that as deferred income.

You have a good CPA!

 

[billyb]

How do you determine what is advance and what is renewal without spending hours going through commission statements?

 

[somarco]

Everything is as earned. No advances.

Georgia does not allow agency / corp licensed as a writing agent. I have two appointments with every carrier, including Humana. My WA number goes on the app, commissions direct deposited to my agency account.

Unless you are Humana.

Yet they issued two 1099's. One for commissions correctly credited. The other under my SS yet deposited into my agency account.

Humana is special . . .