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I'm a bit screwed on my taxes, what can I do?

Discussion in 'Ask An Owner Operator' started by Migueljs16, Feb 15, 2013.

Page 1 of 2
  1. Feb 15, 2013 #1
    Migueljs16

    Migueljs16 Bobtail Member

    32
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    Nov 10, 2012
    Allentown PA
    0
    I made 29k in 2012 on my truck driving but the first month I was subcontracting another truckdriver who did all the deliveries instead of me, also when I was unable to.

    I tried calling him since the end of December when i completely took control, but I got no responses.

    I got his invoices, which totals to 7k, problem is: the guy is no longer in business, and I don't have his Identification number, he is no longer in his address and phone, fax email get no replies.
    I once went, to his house and called him hundreds of time in his number, it all worked... he just... disappeared.

    I was too inexperience to know the tax rules and what I needed to do, I though if I got his invoices AI would be good to go. Now I'm afraid I might end up eating his 7k in income on my taxes because I'm unable to prove his existence.

    Anything I can do?
     
    Migueljs16, Feb 15, 2013
    Migueljs16, Feb 15, 2013
    #1
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  3. Feb 15, 2013 #2
    critters

    critters <b>Late For Dinner</b>

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    Jul 16, 2011
    traverse city,MI
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    best advice? contact a tax professional. the best way to find what the deal is. Good Luck
     
    critters, Feb 15, 2013
    critters, Feb 15, 2013
    #2
    Big Don and bullhaulerswife Thank this.
  4. Feb 15, 2013 #3
    blacklabel

    blacklabel Heavy Load Member

    870
    1,268
    Nov 6, 2011
    MO
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    You might eat them now and it make you p&l look better on paper, for when you want to borrow some money... jmo
     
    blacklabel, Feb 15, 2013
    blacklabel, Feb 15, 2013
    #3
  5. Feb 15, 2013 #4
    Sly Fox

    Sly Fox Road Train Member

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    Oct 29, 2009
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    Still keep those invoices and write it off. If you get audited and they want you to pay, pay. If not, your taxes are exactly what they should be.
     
    Sly Fox, Feb 15, 2013
    Sly Fox, Feb 15, 2013
    #4
  7. Feb 15, 2013 #5
    joecol

    joecol Bobtail Member

    8
    1
    Jan 16, 2013
    0
    that happened to my father several years ago and he had to claim it on his taxes but i think if you eventually find the guy you can back charge him but i would def get an accountant.
     
    joecol, Feb 15, 2013
    joecol, Feb 15, 2013
    #5
  8. Feb 15, 2013 #6
    Ubu

    Ubu Road Train Member

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    Rumored to be somewhere
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    He was a sub-contractor to you and you should have sent him a 1099 by the end of January.

    Not sure how you should deal with it now other then to send his 1099 late.
     
    Ubu, Feb 15, 2013
    Ubu, Feb 15, 2013
    #6
  9. Feb 15, 2013 #7
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    I think he's saying he didn't get a w9 filled out, so he has no way of even doing a 1099 for him. You either need a tax Id # or a social security number to create the 1099.
     
    bullhaulerswife, Feb 15, 2013
    bullhaulerswife, Feb 15, 2013
    #7
  10. Feb 15, 2013 #8
    Ubu

    Ubu Road Train Member

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    He should have had him fill out a W9 when he had him work for him. It was his responsibility, not the sub-contractors.

    The page at http://smallbusiness.chron.com/send-1099-ein-ss-exists-11355.html covers how to deal with a contractor that you forgot to get the information for.
     
    Ubu, Feb 15, 2013
    Ubu, Feb 15, 2013
    #8
    bullhaulerswife and aiwiron Thank this.
  11. Feb 15, 2013 #9
    bullhaulerswife

    bullhaulerswife Forum Leader/Admin Staff Member Administrator

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    That's great information. And I need to correct my previous post its the EIN number not his tax Id#. LOL Thanks for posting that.
     
    bullhaulerswife, Feb 15, 2013
    bullhaulerswife, Feb 15, 2013
    #9
  12. Feb 15, 2013 #10
    Roadmedic

    Roadmedic Road Train Member

    18,951
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    Apr 4, 2007
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    In the past, we would file 1099's with the information available and send them in. Anymore, the penalties are bad either way. The fine for not sending a 1099 is now 250.00.
     
    Roadmedic, Feb 15, 2013
    Roadmedic, Feb 15, 2013
    #10
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