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Expert Questions
Q. Brodart Co - Tax classification is Partnership. We purchased furniture and equipment from… Read More
Q. We are a CPG company. Are suppliers that we purchase goods, products or ingredients used for… Read More
Q. We have vendors that are C-Corp and S-Corp LLCs that provide process serving for legal… Read More
Q. Do we need to issue 1099-NEC to an accounting firm for services we received (such as tax return… Read More
Q. We are a CPG company. I've ready conflicting documents regarding ingredient suppliers and… Read More
Q. 1. We are a government entity, occasionally an elected official will reimburse a non-employee… Read More
Q. We are trying to determine the responsible party for reporting of gift cards given to our… Read More
Q. Our County runs a youth program and sometimes we give kids gift cards, scholarships, or money.… Read More
Q. An individual has reached out asking to amend their 1042-S form to add in their US tax ID, which… Read More
Q. We purchased a product that was delivered to our University, and the vendor delineated the… Read More
Q. Our organization is a public university. Once our University files a 1099-C to the student and… Read More
Q. The 1099 amount we report is based on the payments that we have made, not the amount that the… Read More
Q. -
One of our law firms engaged work with an outside consulting firm. The invoice from the… Read More
Q. Is there a penalty for filing a 1099 for a corporation even if they are technically exempt from… Read More
Q. Is the purchase of livestock for our University's farm (such as the purchase of a horse or cow)… Read More
A. Could you please clarify whether the address on a W9 form needs to match the address listed in… Read More
Q. We recently made a payment to an "S" corporation for seed funding. As per our documentation, it… Read More
Q. I have a new international vendor and he just recently opened a new business. I gave them the… Read More
Q. Every year The City of Calgary conducts a review of companies who may have defined or suggested… Read More
Q. What are pros and cons of posting invoices in correct month?
A.
(Answered by a member of IOFM's… Read More
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