ETax847 Posted January 20, 2020 Report Share Posted January 20, 2020 My client is a financial advisor. In 2019, he shared staff with a partner. He paid the other advisor $11,019.50 directly in exchange for the help of the staff person who was on his payroll. How should they each treat this staff member on their business taxes. Should my client get a W-9 from him and issue a 1099-Misc? Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted January 20, 2020 Report Share Posted January 20, 2020 Sounds like a consulting fee to the advisor with the employees, advisor employees should of continued to receive pay as a W-2 employee. Advisor with employee just reports it as income and the offset is the wages they paid. MAS 3 Quote Link to comment Share on other sites More sharing options...
ETax847 Posted January 20, 2020 Author Report Share Posted January 20, 2020 that makes sense to me! Thanks for your help! 1 Quote Link to comment Share on other sites More sharing options...
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