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I have an accounting question. How should I go about this?
I am starting a business where I process payments on behalf of independent contractors.
1. Customer request work to be done. Gives me a credit card to cover cost. 2. I call an independent company to perform the work. 3. The company completes the work. 4. I process the payment for the work performed less a $4.95 processing fee. The remainder of payment goes to the company. Question: What would be their relationship to me in this scenario? Would I be required to send them a 1099 form each year? Is there anything on my end that I need to do or is the relationship separate? |
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