Taxes 1099 - Topic

I am going to ask for statement as to where they came up with that figure (fair market value). Frankly, we are not O.K. with this. We were never told up front and it does not say anything about it in the contract. We are looking into it.

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dsrtshel

Senior Member

Registered: 03-27-04

Posted

There are many controversial opinions about this. I do know, when my husband recieves a bonus or is awarded a trip through his company, we are taxed on it. I know you can't be taxed for labor ( thank goodness!), but goods and product do need to be taxed. We'll see what happens.

What AZ episode did you film.

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azbigham

Junior Member

Registered: 05-31-04

Posted

We were the one in Phoenix on 39th Street. I would understand the $1000, not 2800!! Also we should have been told in advance.

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mindyeinaz

Senior Member

Registered: 12-04-03

Posted

Hey there Azbigham. Another az ho here. We were w/ dsrtshel. My dh is reluctant to give our ss# to banyan also. I know it's not in the contract but as I've said to my hubby, it's not Banyan, it's the IRS and what they are telling Discovery Channel. They also gave us the $2800 figure. Dsrtshel is in the design business and said that kind of mark up would be about right w/ trade discounts.
Just curious, did you give your info? My dh said he would get back to them but hasn't as of yet.

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dsrtshel

Senior Member

Registered: 03-27-04

Posted

This will be very interesting. I'm afraid to say any more on the message board. It could start a rucus (sp?). Maybe we should exchange email addresses?

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azbigham

Junior Member

Registered: 05-31-04

Posted

I would love to talk to you more about this. I am reluctant to give my e-mail address out over the board. Any ideas?

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mindyeinaz

Senior Member

Registered: 12-04-03

Posted

I agree, dsrtshel. I'd hate to have whole messages disappear.

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dsrtshel

Senior Member

Registered: 03-27-04

Posted

Ha, ha Mindy! I guess I have a reputation for making that happen. I really don't mean to say things that may look bad for Banyan. I think they are an awesome production company and look out for the very best interest (and beyond) for all participants. This is why I won't speculate on the tax issue. We'll see what the situation is when we receive the info. It was a surprise though.

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movieman41

Senior Member

Registered: 04-04-03

Posted

I'd be a hard one on TS. As opinionated as I can get...I might have time biting my tongue with someone like Hildi.

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son2gezus

Senior Member

Registered: 10-28-04

Posted

we were told that the amount of $2800 has the labor of the designer and the carpenter factored into it and that is how they come up with $2800.00 and we were told way in advance even before the final selection was made, it was one of the phone interveiw questions. we had to acknowledge that if we were chosen, we would have to file a 1099 in the amount of $2800.00

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dsrtshel

Senior Member

Registered: 03-27-04

Posted

That's great that HO's are being told that up front during the phone interview. That way you can decide if you want to go on with the show. The issue of taxes was brought to Banyan's attention by the IRS only recently. Nothing intentional. However, I am confused about taxing labor. Usually labor is exempt. Maybe I need to talk to my CPA. It's that time of year anyway.

son2geezus - when is your scout interview. It's awesome to have so many people posting who are going through the process!!

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son2gezus

Senior Member

Registered: 10-28-04

Posted

we haven't had our scout interveiw yet we won't know if we've chosen till after the casting call this Sat. Jan. 22 wish us luck OK?

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dsrtshel

Senior Member

Registered: 03-27-04

Posted

You've got it! Good luck, best wishes, many prayers, and a sprinkle of pixie dust!!!

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son2gezus

Senior Member

Registered: 10-28-04

Posted

casting call today and scout visit on Monday, wish us luck

;

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nancy_p

Junior Member

Registered: 08-27-02

Posted

We filmed TSF in June, it aired in September and as of today, we have not received any tax information. Isn't all tax information due to the appropriate people/persons by January 31st?

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mommyl

Senior Member

Registered: 10-20-04

Posted

My epi filmed in July and I haven't received a 1099 either. I believe the law is that it has to be mailed by 1/31/05, not received.

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mommyl

Senior Member

Registered: 10-20-04

Posted

Well, here it is, January 31st, and guess what I got in the mail today? Yep - 1099's. I'm angry (1) that we weren't told upfront about this either, and (2) my hubby and I EACH received a 1099 and EACH was in excess of $1600! Any advice?

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