Report Fee To IRS?
Hi!
Do bird dogs usually report the fees they received from investors to the IRS?
I would hate to get an investor in trouble by reporting something that he/she didn't report properly for paying me.
Thanks for any advice!
Take care,
Kevin
Anything that is income must be reported to the IRS. Then again, if its cash and they havent 1099'd you, then I guess the IRS wouldnt know about it.
As he mentioned if you did not get a 1099, they did not report you getting paid. They probably expensed it in some way, but not to you.
Report it.
Keep your end clean.
If someone else is doing something tricky (ie, illegal), then you are not making a problem for him--he's making it for himself.
Good point, investorB!!