Discussion:Reporting guarantor's fee
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
(Difference between revisions)
| Revision as of 14:47, 21 October 2009 Kevinh5 (Talk | contribs) ← Previous diff |
Revision as of 15:09, 21 October 2009 JAD (Talk | contribs) (Mike, thank you) Next diff → |
||
| Line 19: | Line 19: | ||
| So I found she was right - you roll up the certificate of deposit, place it in the hole, and then push the tray in and it holds the CDs snug up against the computer for safekeeping. My only worry is whether FDIC insurance covers computer viruses.}} | So I found she was right - you roll up the certificate of deposit, place it in the hole, and then push the tray in and it holds the CDs snug up against the computer for safekeeping. My only worry is whether FDIC insurance covers computer viruses.}} | ||
| + | |||
| + | {{ForumReplyPost|UserID=JAD|Date=21 October 2009|Text=Mike, thank you so much for the reply! I wasn't expecting any response on something so obscure. Thank you again.}} | ||
Revision as of 15:09, 21 October 2009
Discussion Forum Index --> Basic Tax Questions --> Reporting guarantor's fee
Discussion Forum Index --> Tax Questions --> Reporting guarantor's fee
| 21 October 2009 | |
| Client pays a guarantor's fee to an officer/employee. Is the fee included in wages, or is it reported on Form 1099? I cannot find any guidance. Thank you for any help. | |
| 21 October 2009 | |
| I have tried to research this for years and found little. It was in a CPE course that it was mentioned that a fee to guarantee debt would not be subject to SE tax. And if not charged in the capacity as an employee, not subject to treatment as wages. BUT, the only thing i have found is a Court of Claims case, just before Christmas 1998, the the court agreed with the IRS in treating the fee as a dividend. (Seminole Thriftway) | |
| 21 October 2009 | |
| wow, you found something just before Christmas 1998 and remembered it.
I know people who can't find where they left their car keys the night before! | |
| 21 October 2009 | |
| I used to put them on that coffee cup holder that pops out of the top of the tower, but the computer occassionally ate them. | |
| 21 October 2009 | |
| My assistant told me that that was not a coffee cup holder, but a CD tray.
So I found she was right - you roll up the certificate of deposit, place it in the hole, and then push the tray in and it holds the CDs snug up against the computer for safekeeping. My only worry is whether FDIC insurance covers computer viruses. | |
| 21 October 2009 | |
| Mike, thank you so much for the reply! I wasn't expecting any response on something so obscure. Thank you again. | |
