I received a 1099-MISC from one of my employers instead of a W2 for some small projects completed during the year (only about $600 worth of income). I was not aware that they would be sending me a 1099, and they never mentioned anything about it. When filing taxes, do/did I need to register for a business license? My tax preparer just put it under my name in a Schedule C... What should I do? I have no idea how this works and any help is appreciated.
Anyone who pays you $600 per year or more must report those payments to the IRS and give you a 1099. You must report the income. You do not have to have a business license to receive a 1099-MISC. The money doesn't even have to be from employment. A Schedule C is not necessary unless you have a business.
This answer is offered as a public service for general information only and may not be relied upon as legal advice.
Our Rating is calculated using information the lawyer has included on their profile in addition to the information we collect from state bar associations and other organizations that license legal professionals. Attorneys who claim their profiles and provide Avvo with more information tend to have a higher rating than those who do not.What determines Avvo Rating?Experience & background
Years licensed, work experience, educationLegal community recognition
Peer endorsements, associations, awardsLegal thought leadership
Publications, speaking engagementsDiscipline