tomshah2006
Feb 7, 2010, 10:56 PM
My company A performance services for another company B. We had a legal contract signed up before the work. All my invoices were sent from Company A requesting check to be made payble to A. However, the Company B sent checks in my personal name and then after the end of the year also sent a 1099 in my personal name. In the mean time, I have paid my employees using that income and sent their W-2's and paid their taxes. What are my options now? Do I have to show a big loss for the corporation (since it doesn't really have the income) it was supposed to have. Do I have to show a big income on my personal schedule C? Or can I simply put a not in my taxes that the 1099 was really not for me but for my corporation? The big loss will take years to recoup on my personal income taxes at $3000 per year. Please advise.
No one at the big company B is answering my phone calls to allow correcting their mistake.
Thanks.
No one at the big company B is answering my phone calls to allow correcting their mistake.
Thanks.