What is a 1099 Vendor?
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There are two main forms contractors work for. W2 and 1099. If you work W2 then the employer is liable for employment taxes, Which includes matching Social security as well as unemployment and a host of other taxes. W2 workers have to have federal and state taxes deducted from them. W2 workers also get benifits like insurance. \n\n1099 Vendors are paid a flat rate and handle their own taxes. It may be an individual or a collective group of individuals. Nothing is deducted as the vendor will handle taxes, provide benifits and otherwise deal with Gov red tape.
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The web is definitely a great place to start your search but one thing to bear in mind about wedding vendor sites is that most will list any vendor for a fee without checking company history, customer satisfaction, etc. Their business is advertising and their interest is first and foremost to secure advertising dollars and/or referral fees. So remember the old adage "Caveat Emptor" (Latin for “Buyer Beware”)\n\nI suggest you either find a vendor website that has a community and discussion forum or do a category search in Verizon Yellowpages or Zipingo. Yes, these are advertising businesses like the others, but they also provide an area for customers to leave feedback... both positive and negative (see link examples below)
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Someone owns a building or a large space (if outside) and usually rent out booths to people who want to set up shop. I've heard of some places who charge by the day... so the person setting up shop can just pay for that space for that day or whenever they feel like coming.  Other places vendors pay a monthly rate for a permanent space. Of course the owner makes money from the rentals and the vendor makes money from the sell of their product.  Hope this helps.
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First ask them about their experience. Check whether or not they understand the business process of each of the clients they serviced. You could also quickly check them out by asking their assessment and understanding about your industry.\n\nERP is very much a systemized business process. So the vendor must really understand your business the way you do.\n\nNext, ask about their support from development until implementation. Don't forget to ask for their warranty and after sales support (normally this will incur a cost of maintenance. 10% of system value is acceptable).
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1099's are on the irs.gov site, however since they are optically read by the irs, they will do you no good. you can order them to be mailed to you from the same website, search for "forms 1099 misc"
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If you have a choice, you should request being "w2'd".  Filing a 1099 means you must pay both the employer and employee portion of FICA and Medicare.  Of course, there shouldn't really be a choice, either you're an employee or you're an independent contractor.  As an independent contractor, if you travel (not commute) for your job you can deduct auto expenses.  If you use a portion of your house for the business, you can deduct home office expense, however, that's a little tricky and can sometimes trigger an IRS audit, so make sure it's done right.  Keep receipts for any expenses you have related to your income - supplies, etc.  You sound like you could use a professional tax preparer.
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* 1099-A: acquisition or Abandonment of Secured Property\n    * 1099-B: Proceeds from Broker and Barter Exchange Transactions\n    * 1099-C: Cancellation of Debt\n    * 1099-CAP: Changes in Corporate Control and Capital Structure\n    * 1099-DIV: Dividends and Distributions\n    * 1099-G: Government Payments\n    * 1099-H: Health Insurance Advance Payments\n    * 1099-INT: Interest Income\n    * 1099-LTC: Long Term Care Benefits\n    * 1099-MISC: Miscellaneous Income\n    * 1099-OID: Original Income Discount\n    * 1099-PATR: Taxable Distributions Received From Cooperatives\n    * 1099-Q: Payment from Qualified Education Programs\n    * 1099-R: Distributions from Pensions, Annuities, Retirement Plans, IRAs, or Insurance Contracts\n    * 1099-S: Proceeds from Real Estate Transactions
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When they give you a 1099, you're an independent contractor, not an employee and they dont take anything out for federal or state taxes.  You also have to pay your own FICA (medicare and social security) which is self employment tax.   When you get a w-2 like at your  retail job they take out for medicare and social security, 7.65 percent.  The employer matches that.  When you get paid with a 1099 you have to pay all of it, 15.3 percent.
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Your accountant has to fill out a schedule D for your trading transactions.  It must list every transaction individually.  That is why it is necessary.  Because of this, some brokerage firms now have downloadable 1099's that interface with tax software.  Eventually they all will.\n\nGood luck.
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You will have a hard time with the IRS come tax time with 1099 workers. Do they work with other firms? Do you set their hours? Are you in control of thier working conditions. Do they supply their own equippment or work solely with yours. The wrong answer to these questions will raise red flags at the IRS. If your 1099 workers don't pay their taxes you'll have hell to pay. You need workers comp.
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At the end of the year, if you paid him/her $600 or more, then you need to fill out and give him/her and the IRS a 1099-MISC form.  These are not too difficult to fill out, and you need not concern yourself with withholdings or FUTA or anything of the sort since they are a contractor and not an employee.  On the 1099-MISC form, you need to fill in their SSN or EIN (whichever they wish to provide).  Anytime you need an identification number to file a form with the IRS, you also need them to fill out and submit to you a completed W-9.  You really don't NEED the W-9 before they start working for you, but I'd get them to fill it out ASAP.  Remember, if you pay them less than $600, then you don't need to send a 1099-MISC nor get a W-9.  Just because you pay them less than $600 doesn't mean they don't have to claim the income, nor does it mean you can't write off the expense.  It just means you don't need the W-9 / 1099-MISC forms filled out.
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Call the Target Sourcing Information Center at (612) 696-7500. They can help you with setting up new vendor opportunities.
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Yes, you have to file if you made more than $400 in self employment.  If you were paid on a 1099 as an independent contractor that would be considered self employment.  You have to pay self employment tax, which is social security and medicare, on your 1099 income.  File a 1040, and a schedule C for the 1099 income.  Self employment tax goes on Schedule SE.  Deduct the studnet loan interest on the 1040, line 33.
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Your employer is REQUIRED by law to social security and medicare taxes.  They are also responsible for their portion of the social security and medicare taxes.\n\nYour taxes, if you received a 1099, could be over 40%!  You would be responsible for the 15.4% self-employment tax, plus your ordinary income tax rate.  That's not a good proposal.
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You report all the 1099's. You only need 1 schedule C if you only had 1 business. The 1099's get added up and go in income. If you have tax software you just enter in the 1099's and the program will transfer the income. If you have other income that you did not get a 1099 for you will have to add that amount. Be sure to take every thing that you use for that business on the schedule C. Take some time to think so you don't miss anything. I'll keep watching if you have more ?'s
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an independent contractor.
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Yes.  You can scream, throw things, and stomp about the house.  Then you have to use the 1099C on your tax return and see what the actual result is.  If you owe money that you don't have, work out a payment plan with the IRS.  Difficult, but it can be done.