Accont name?

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • tacks
    Senior Member
    • Feb 2009
    • 276
    #1

    Accont name?

    Two guys team up and do retirement and estate planning together.

    The one business pays out 20,000 to the other business --- lawyer -- and 1099s him for the amount -- non employee compensation.

    What do we call this expense on the Corp's books? Legal Counsel? Legal and administrative consulting?
    Tags: None
    • BOB W
      Senior Member
      • Jun 2005
      • 4061
      #2
      Originally posted by tacks
      Two guys team up and do retirement and estate planning together.

      The one business pays out 20,000 to the other business --- lawyer -- and 1099s him for the amount -- non employee compensation.

      What do we call this expense on the Corp's books? Legal Counsel? Legal and administrative consulting?
      Sounds like a "SubContractor" to me..................
      This post is for discussion purposes only and should be verified with other sources before actual use.

      Many times I post additional info on the post, Click on "message board" for updated content.

        Comment

        • abctax
          Member
          • Jan 2009
          • 95
          #3
          Commissions?

            Comment

            • ChEAr$
              Senior Member
              • Dec 2005
              • 3872
              #4
              Contract Labor!
              ChEAr$,
              Harlan Lunsford, EA n LA

                Comment

                • tacks
                  Senior Member
                  • Feb 2009
                  • 276
                  #5
                  Excellent!! Thanks to all of you for the help. Lifesavers, you all are.

                    Comment

                    • Davc
                      Senior Member
                      • Dec 2006
                      • 1088
                      #6
                      Pest Control.

                        Comment

                        • BHoffman
                          Senior Member
                          • Feb 2008
                          • 1768
                          #7
                          Two guys team up, as in a Partnership? That would change things. Were the fees for organizational or startup costs?

                            Comment

                            Previous template Next

                            Disclaimer

                            Collapse

                            This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

                            Working...