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Old 03-06-2009, 02:19 AM
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1099-Misc and expenses

Dear TaxGuru :

I have recently started working on 1099. I will be paid as 1099 consultant for the work I am undertaking with a consulting company. In fact, I just received my first check. The work that I am undertaking is located in DC. I live in a different state.

I have not yet been issued a 1099. when I am issued a 1099-Misc,

The client does not pay for my travel expenses. Can I deduct the travel expenses that I am currently paying by myself?

The end client is directly reimbursing me for food expenses. I submit the receipts and I get a check from them. Do I also have to report the food reimbursements some where when I file my taxes? The food reimbursements are not reported as income , so I am thinking I do not have to report and confuse IRS. Not sure though?Because, for a sole proprietor, my understanding is food is reimbursable by only 50%. However, my client is reimbursing me 100%, so do I give back to IRS?

They have rented furnished apartment for all the consultants. So I do not even submit any receipts for lodging, the client takes care of it.

I read that sole proprietors need to file quarterly? Is that true? If so, I need to talk to my consulting company to make sure they send me 1099 every quarter , right?

On a separate note, for the first two months, the client did not pay me any expenses for food, lodging or travel. Can I use the standard per diem chart from gsa.gov for that period?

Please let me know and thanks in advance for replying.

Regards

Tax Advisee



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Old 02-04-2012, 12:31 AM
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Join Date: Feb 2012
Posts: 1
I need to know this too

Quote:
Originally Posted by JBond View Post
Dear TaxGuru :

I have recently started working on 1099. I will be paid as 1099 consultant for the work I am undertaking with a consulting company. In fact, I just received my first check. The work that I am undertaking is located in DC. I live in a different state.

I have not yet been issued a 1099. when I am issued a 1099-Misc,

The client does not pay for my travel expenses. Can I deduct the travel expenses that I am currently paying by myself?

The end client is directly reimbursing me for food expenses. I submit the receipts and I get a check from them. Do I also have to report the food reimbursements some where when I file my taxes? The food reimbursements are not reported as income , so I am thinking I do not have to report and confuse IRS. Not sure though?Because, for a sole proprietor, my understanding is food is reimbursable by only 50%. However, my client is reimbursing me 100%, so do I give back to IRS?

They have rented furnished apartment for all the consultants. So I do not even submit any receipts for lodging, the client takes care of it.

I read that sole proprietors need to file quarterly? Is that true? If so, I need to talk to my consulting company to make sure they send me 1099 every quarter , right?

On a separate note, for the first two months, the client did not pay me any expenses for food, lodging or travel. Can I use the standard per diem chart from gsa.gov for that period?

Please let me know and thanks in advance for replying.

Regards

Tax Advisee

But I have absolutely nothing reimbursed. NO travel, food, mileage, gas. Nothing.



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