Hired bookkeeper/treasurer

Started by MarieL • 2 replies • 1349 views

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MarieL (Illinois)
Posts: 82

Posted:

In our Illinois Common Interest community we do not have a volunteer treasurer.
we have hired bookkeeper. who is not a licensed manager who does all the treasurer's work and is paid a salary for this. What kind of IRS forms, if any, do we have to fill out and report this? Or does he just report this on his own to the IRS, because we do no deduct any taxes from his hourly wages.
Thank you.

TimB4 (Tennessee)
Posts: 21,059

Posted:

IRS form 1099-misc is used to report income of independent contractors
IRS form W2 is used to report income of employees.

Here are links to IRS web pages that may help:

Independent Contractor (Self-Employed) or Employee?

Independent Contractor Defined

Forms and Associated Taxes for Independent Contractors

Hope this helps,

Tim

SteveM9 (Massachusetts)
Posts: 3,699

Posted:

If he/she is actually a professional book keeper, they would be able to give you advice. Just sayin.......

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