Sunday, February 24, 2008

A self-employed NEVER receives wages for work performed!

June --

My question is for a friend who is in construction.

My friend earned wages as a sole proprietor. Now the fellow he worked for says he's not a company or corporation and will not be furnishing him with a 1099-MISC. How does he report his wages?

Rheta from Hickory, NC

OK Indies: What's wrong with this picture? Right you are. A sole proprietor does not receive wages. Only employees receive wages.

The friend in construction is self-employed and whether he receives a 1099 or not his income is self-employment income.

Check out my book Self-employed Tax Solutions. It will simplify your tax and financial life, and save you money!

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