104 \\ 1099 Income and S Corps: Avoid IRS Trouble with These CPA Strategies
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Thu 16 May 2024
- Episode Link
- https://smallbusinessfinance.podbean.com/e/104-s-corp-or-personal-mastering-1099-income-for-business-owners/
Are you getting 1099 income in your personal name even though you have an S corporation? This common mistake can trigger IRS audits, self-employment tax, and penalties. In this episode, you’ll learn how to handle 1099 payments the right way, when to push vendors to pay your business directly, and what to do if that’s not an option. We cover the Fleischer case, why an employment agreement between you and your S corp matters, and how to document everything to stay in compliance. Whether you’re a real estate professional, financial advisor, influencer, or small business owner, this episode shows you how to properly route income, avoid unnecessary taxes, and protect yourself from an IRS nightmare.
Next Steps:
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