[Jewelry making - Article 00056] - Re: [Orchid] Consignment and taxes

[Marilyn O'Hara]

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    1099 forms are for services rendered. I give a 1099 to my polisher,
    my caster and any other service that I hire out. I do not give a 1099
    to my stone dealer or supply house. These are products. You sell a
    product. 

    If a gallery gave you a 1099 on a consignment piece then you will
    ctually be paying more taxes Think of it this way...What if a gallery
    wanted to buy the same piece? Would they give you a 1099? No they
    would give you a sales receipt. This past year I was in a new gallery
    and I received a tax bill from the city for personal property. 

    There go: Why would I receive a 1099 on selling the same
    merchandise? (Straight from my accountant....) 

Marilyn
Dallas, TX
www.Marilynohara.com


 
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