Informing contractors that 1099s include travel expenses

November 10, 2020


Q.¬†Should you inform the c onsultant/contractor they are responsible for deducting travel expenses or related expenses from their year 1099 at the end of the year or should we assume they are aware of it? Should we include verbiage in their contract? A. (Answered by the IOFM Advisory Panel) ----- If the vendor separates travel expenses on the invoice, we exclude the amount from the 1099 total. In addition, if they separate the travel expenses and do not provide receipts, we request them. If…

  Become A Member

Join IOFM today as a Professional, Business, or Enterprise Member — or upgrade your Starter Membership — to get access to this content and thousands of other Articles, Webinars, Expert Answers, Resource Downloads, and more!

Join Today

Naturally, this forum doesn’t allow the kind of full information exchange necessary for the Institute of Finance & Management (IOFM) to provide legal advice and the Expert is not a tax attorney in any event. Please understand that the nature of our responses are limited by these constraints as well as the site’s Terms of Use. If you have further questions or suggestions about how we can improve IOFM, please let us know. 
Ask The Expert is a member resource of IOFM and all advice provided is subject to site’s Terms of Use.

Subscribe to our Monthly Insider

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500