SS# vs EIN

[AZ-Tax]

In 2010 I had my tax clients issue tax prep fee checks payable to me. I submitted my LLC app in Dec 2010 and got approved Jan 14, 2011. Obtained my EIN in early Jan 2011. S-Corp client wants to issue me 1099 - misc for 2010. I suppose 1099-misc needs to be issued to my name vs my LLC and my SS# vs my LLC's EIN, correct?

[BOB W]

In 2010 I had my tax clients issue tax prep fee checks payable to me. I submitted my LLC app in Dec 2010 and got approved Jan 14, 2011. Obtained my EIN in early Jan 2011. S-Corp client wants to issue me 1099 - misc for 2010. I suppose 1099-misc needs to be issued to my name vs my LLC and my SS# vs my LLC's EIN, correct?

Yep............................ Schedule C

LLC can get 1099s also.

[Gretel]

I find this issue confusing. In scenario above I agree that 2010 1099's should be in individuals name.

From what I understand about SMLLC's is that FEIN plus LLC name should be used if FEIN was applied for and was needed for employment or other purposes, and if no FEIN then it would be SS no. of individual. They changed the rules about 2 years back, which did not make it less confusing.

Anyone agree or disagree?

[AZ-Tax]

I think I may have confused my actual question

My single member LLC and its EIN both got approved in Jan 2011. Prior to that (2010 and earlier) I was operating as a sole proprietor Sch C using my SS#. I was hoping there was an option for me to have my S-Corp tax client issue my LLC a 1099-misc (2010) for the tax prep fee I performed in 2010. Is that possible or is this a dah question? : )

[BOB W]

My single member LLC and its EIN both got approved in Jan 2011. Prior to that (2010 and earlier) I was operating as a sole proprietor Sch C using my SS#. I was hoping there was an option for me to have my S-Corp tax client issue my LLC a 1099-misc (2010) for the tax prep fee I performed in 2010. Is that possible or is this a dah question? : )

Not being contrary, but does it matter?

[AZ-Tax]

I stand corrected

My single member LLC and its EIN both got approved in Jan 2011. Prior to that (2010 and earlier) I was operating as a sole proprietor Sch C using my SS#. I was hoping there was an option for me to have my S-Corp tax client issue my LLC a 1099-misc (2010) for the tax prep fee I performed in 2010. Is that possible or is this a dah question? : )

Upon looking at my LLC on the AZ Corp Commission website, it states: Incorporation Date: 12/02/2010 which is the date AZ Corp Commission recieved my LLC app.

[BOB W]

Upon looking at my LLC on the AZ Corp Commission website, it states: Incorporation Date: 12/02/2010 which is the date AZ Corp Commission recieved my LLC app.

They would have to issue 2 1099.....................January> November and another for December.

[AZ-Tax]

Probably only 1, to me.

They would have to issue 2 1099.....................January> November and another for December.

Since the tax prep fee check was made payable to me in 2010, probably only 1 - 1099-misc to me using my SS#. No checks were issued to my newly formed LLC in 2010 therefore no 1099-misc for 2010, sound correct?

[oceanlovin'ea]

no point of question

But why does he want to issue you a 1099? None of my clients issue 1099's to me.

Linda

[S T]

Bi Clients

I have been issuing 1099 forms to myself all week on behalf of Business Clients and Accounting/Professional Fees, as I am processing their 1099 form reportins.
Individuals do not have to issue., or do they if we charge them more than $ 600?

So the general rule $600 or more Biz Client needs to issue 1099 Form to me- then I had an attorney form today that I have been dealing with for collection fees on one of my biz clients and had to obtain the SSN and address to issue the 1099 form to.

Sandy

[AZ-Tax]

My client is an 3 member LLC - S-Corp filer

I instructed them to issue me a 1099-misc since they paid over $600 for tax prep services. According to their former tax preparer, a CPA, my client told me the CPA who charge way more then me, did not metion issuing him, the CPA a 1099-misc.