Discussion:Anyone heard of MyBizOffice?
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| Revision as of 20:52, 17 December 2007 Bottom Line (Talk | contribs) (The contract is) ← Previous diff |
Revision as of 22:05, 17 December 2007 MBender (Talk | contribs) (Hello, my name i) Next diff → |
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| {{ForumReplyPost|UserID=Bottom Line|Date=17 December 2007|Text=The contract is with the individual but she said to write the check payable to MyBiz which my client did. The individual says that there should not be a 1099 since the check was to MyBiz which is a corp (MyBizOffice, Inc.). OK - makes sense - remembering that you CAN but do not HAVE to 1099 a corp. I believe the weak link here is the contract with the individual.}} | {{ForumReplyPost|UserID=Bottom Line|Date=17 December 2007|Text=The contract is with the individual but she said to write the check payable to MyBiz which my client did. The individual says that there should not be a 1099 since the check was to MyBiz which is a corp (MyBizOffice, Inc.). OK - makes sense - remembering that you CAN but do not HAVE to 1099 a corp. I believe the weak link here is the contract with the individual.}} | ||
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| + | {{ForumReplyPost|UserID=MBender|Date=17 December 2007|Text=Hello, my name is Matthew Bender and I've worked as part of MyBizOffice's staff for nearly 10 years. | ||
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| + | I'll try to briefly fill in some holes if I can. MyBizOffice is a "portable" employer for independent professionals and is a preferred alternative to self-incorporation for many consultants all over the country. Independent individuals most often join us so that they can maintain the empowerment and wealth-potential of their independent careers while enjoying the convenience and benefits of W-2 employment. While our Associates work on their contracts (which they find themselves -- we are not a staffing company), we invoice their clients, collect their billings, withhold appropriate employer payroll taxes, offer true group benefits (medical, dental, life, disability, 401(k), etc.), and provide a comprehensive pre-tax expense reimbursement program that actually improves on what 1099 contractors can deduct. We also give each Associate his or her own Business Center, which is fundamentally a one-person division within MyBizOffice. This Business Center creates an environment where our Associates can truly operate and grow their independent practices within a complete support structure. | ||
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| + | And it's portable, so Associates can remain in our employment across multiple projects and clients. That results in uninterrupted benefits, lower tax payments, and a better credit profile. Many of our Associates have been with us for many years and have carried us with them to a wide spectrum of clients | ||
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| + | We're set up so that we create a master services contract with the end-client. The worker then has a general employment agreement with us. We create and execute a work order for the worker to begin the assignment. | ||
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| + | Now, MyBizOffice does have some client relationships where companies send us individuals who qualify as true independent contractors and therefore do not need to be channeled into our W-2 service. So we do in some case act as a payment provider for 1099s outside of a W-2 relationship. Without knowing more about the person in question (from the original post of this thread), this may be the situation. | ||
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| + | This is just a quick look at what we do and I know it's not very comprehensive, but I hope I've helped clear things up. Yes, we have been in business since 1986 and we are GSA certified, which means that the US government had to come in and do a thorough investigation of our services and practices. | ||
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| + | I'd be happy to answer any specific questions you have here on this forum or you're welcome to call us toll-free at 1-877-391-8463. | ||
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| + | Thanks, | ||
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| + | Matthew Bender}} | ||
Revision as of 22:05, 17 December 2007
Discussion Forum Index --> Basic Tax Questions --> Anyone heard of MyBizOffice?
Discussion Forum Index --> Tax Questions --> Anyone heard of MyBizOffice?
Bottom Line (talk|edits) said: | 15 December 2007 |
| Has anyone heard of MyBizOffice? Apparently they receive payments for independent contractors and take care of W-2's for those contractors. Since the entity hiring the independent contractor pays MyBizOffice, Inc., a 1099 does not have to be sent. BUT the agreement is between the entity and the individual. My antennae is going up on this. We have the cancelled check to MyBizOffice. Anyone see any landmines? | |
| 2007-12-15 | |
| Bottom Line, check this thread http://www.taxalmanac.org/index.php/Discussion:Employees_hired_by_third_party_%28employee_leasing%29 | |
Bottom Line (talk|edits) said: | 16 December 2007 |
| But this doesn't seem like employee leasing. The employee leasing that I am familiar with is where the employee acts like an employee, ie goes to the same place for work every day and works a 40 hour work week under the supervision of a company (not the leasing company). This situation is different. My client is hiring a woman to teach some seminars for him. He paid her $1,200 for 2007 and does not expect to pay her more than $5,000 in 2008. She truly is an independent contractor and does this type of work for other entities. | |
| December 17, 2007 | |
| So your client is now paying MyBizOffice for services performed by a teacher that s/he would normally give a 1099 to? What do W2s have to do with this? Is MyBiz' position that the contractors are their employees, even though they are working as independent contractors? | |
Bottom Line (talk|edits) said: | 17 December 2007 |
| Apparently MyBiz issues W-2's and offers 401-K's to the independent contractors. The website says they have been in business since 1986, are an approved GSA contractor and have companies such as GE, Prudential, and YellowBook as clients. Maybe I'm just being a little too suspicious but I want to be sure I protect my client. (Although since this is the only potential 1099 and its for only $1,200, I don't think there's much risk here.) | |
TheTinCook (talk|edits) said: | 17 December 2007 |
| There doesn't seem to be anything wrong with this arrangement. After all, there is no job an IC can do that an employee can't do. An employer is free, within the limits of the labor laws, to set job duties and compensation that would resemble that of an IC. | |
| December 17, 2007 | |
| I guess I would like to have more information before coming to a conclusion about this. Does your client have an agreement with the contractor? Did your client cut a check to the contractor? Or to MyBiz? | |
TheTinCook (talk|edits) said: | 17 December 2007 |
| So, the question is whether or not to issue a 1099 to the "IC"?
My answer would be no. The client paid MyBiz, not the teacher, as noted by BL who has the cancelled check. Anyway, the contract would be with MyBiz, at least according to the website. | |
Bottom Line (talk|edits) said: | 17 December 2007 |
| The contract is with the individual but she said to write the check payable to MyBiz which my client did. The individual says that there should not be a 1099 since the check was to MyBiz which is a corp (MyBizOffice, Inc.). OK - makes sense - remembering that you CAN but do not HAVE to 1099 a corp. I believe the weak link here is the contract with the individual. | |
| 17 December 2007 | |
| Hello, my name is Matthew Bender and I've worked as part of MyBizOffice's staff for nearly 10 years.
I'll try to briefly fill in some holes if I can. MyBizOffice is a "portable" employer for independent professionals and is a preferred alternative to self-incorporation for many consultants all over the country. Independent individuals most often join us so that they can maintain the empowerment and wealth-potential of their independent careers while enjoying the convenience and benefits of W-2 employment. While our Associates work on their contracts (which they find themselves -- we are not a staffing company), we invoice their clients, collect their billings, withhold appropriate employer payroll taxes, offer true group benefits (medical, dental, life, disability, 401(k), etc.), and provide a comprehensive pre-tax expense reimbursement program that actually improves on what 1099 contractors can deduct. We also give each Associate his or her own Business Center, which is fundamentally a one-person division within MyBizOffice. This Business Center creates an environment where our Associates can truly operate and grow their independent practices within a complete support structure. And it's portable, so Associates can remain in our employment across multiple projects and clients. That results in uninterrupted benefits, lower tax payments, and a better credit profile. Many of our Associates have been with us for many years and have carried us with them to a wide spectrum of clients We're set up so that we create a master services contract with the end-client. The worker then has a general employment agreement with us. We create and execute a work order for the worker to begin the assignment. Now, MyBizOffice does have some client relationships where companies send us individuals who qualify as true independent contractors and therefore do not need to be channeled into our W-2 service. So we do in some case act as a payment provider for 1099s outside of a W-2 relationship. Without knowing more about the person in question (from the original post of this thread), this may be the situation. This is just a quick look at what we do and I know it's not very comprehensive, but I hope I've helped clear things up. Yes, we have been in business since 1986 and we are GSA certified, which means that the US government had to come in and do a thorough investigation of our services and practices. I'd be happy to answer any specific questions you have here on this forum or you're welcome to call us toll-free at 1-877-391-8463. Thanks, Matthew Bender | |
