What is the name of your state? Minnesota
Hello! I'm lookiing for some answers. I am an independent contractor and receive a 1099 each year from the company I so business for. I am considering "hiring" two other (independent) contractors to work under me, whose income would have to be routed through me (I'd get paid, then pay them their share.) Our total incomes would be reflected in my 1099. Can I turn around and issue them 1099's and take their pay as an expense somewhere for myself? (Can you tell I am VERY green at this!?!?) Are there any other major issues I'd have to think about in doing this? Thank you for any help or direction on this!
Smnornes
Hello! I'm lookiing for some answers. I am an independent contractor and receive a 1099 each year from the company I so business for. I am considering "hiring" two other (independent) contractors to work under me, whose income would have to be routed through me (I'd get paid, then pay them their share.) Our total incomes would be reflected in my 1099. Can I turn around and issue them 1099's and take their pay as an expense somewhere for myself? (Can you tell I am VERY green at this!?!?) Are there any other major issues I'd have to think about in doing this? Thank you for any help or direction on this!
Smnornes