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You should report the income from the 1099-MISC Box 7 form on your tax return and pay any applicable taxes on it.

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4mo ago

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What are some items a compensation should accomplish?

A compensation's main purpose is to reward good work. It motivates employees to achieve out of expectations. Ideally, a good compensation package will make a employee feel properly rewarded. It should be in proportion to the personal level of achievement the person felt he or she has achieved. This would be from the employee's point of view. From the executives' point of view, the compensation package would cost the company as little as possible yet still make the employee feel properly rewarded. Yet it should not make the employee feel fully rewarded, and thus breeding greed. It would make the employee feel rather inadequate and that he or she would need to work harder to get properly rewarded .


What factors should be considered when deciding between options and equity as forms of compensation for employees?

When deciding between options and equity as forms of compensation for employees, factors to consider include the company's financial situation, the employees' preferences, the potential for growth in the company's stock value, and the impact on employee motivation and retention.


What are some of the goals of a good compensation package?

Ideally, a good compensation package will make a employee feel properly rewarded. It should be in proportion to the personal level of achievement the person felt he or she has achieved. This would be from the employee's point of view. From the executives' point of view, the compensation package would cost the company as little as possible yet still make the employee feel properly rewarded. Yet it should not make the employee feel fully rewarded, and thus breeding greed. It would make the employee feel rather inadequate and that he or she would need to work harder to get properly rewarded.


What information should be included in a journal entry for a tax refund?

A journal entry for a tax refund should include the amount of the refund received, the date it was received, and the account it is being deposited into. It should also note any relevant tax codes or references for tracking purposes.


Sent in money order for payment but the COMPANY says they never received it but the money order has been cashed?

Money orders are one of the safest ways to safeguard yourself from fraudulent companies or theft. If you have the receipt for your money order you can contact the company that issued the money order to see when, where, and who cashed the money order. You should file a police report and make a claim with the money order company to get compensation.

Related Questions

Should nonemployee be hyphenated?

Yes, "nonemployee" should be written as one word without a hyphen. In general, prefixes like "non-" are typically combined with the following word to form a single term. However, it's always a good idea to consult specific style guides, as preferences may vary.


What should I do if I receive a 1099misc for goods I did not receive?

Contact the company that sent you the 1099misc. If this does not remedy the situation then call the IRS main number at 1-800-829-1040. If you still need additional help then make an appointment with a tax preparer at a tax preparation firm such as HR Block.


Will veterans administration send you a 1099R for your disability benefits?

Compensation isn't income. Should have received 21-8741-1 each year stating what your monthly compensation amount is. You can read IRS Pub 17 and it will note that compensation isn't taxable.


Do you have to file taxes if you were unemployed all year and don't have a W2?

Yes, if you received unemployment compensation from the state you would have some taxable income to be reported on your 1040 income tax form. You should have received a W-2G with the information regarding the taxable amount of your benefit. If you received government unemployment compensation, contact the agency for a copy of this form.


When a workman's compensation is presented the supervisor should?

When a workman's compensation case is presented, the supervisor should


When a Workman's compensation case is presented the supervisor should?

When a workman's compensation case is presented, the supervisor should


Should an exgratia paymwent be recovered by the insurer if the insured has received any other form of compensation?

if the compensation amounts to the total loss suffered, it can be recovered. Can amount to unjustified enrichment. Insured is to be placed in same position as before the loss and not in a better position.


When should people not employed receive their 2009 w2 forms?

If you were an employee with an employer at any time during the 2009 tax year you should have received your W-2 form from your employer by January 31 2010. If you received unemployment compensation during the tax year 2009 you should have received the W-2G from the state before January 31 2010.


When a workmans compensation case is presented the supervisor?

When a workman's compensation case is presented, the supervisor should


Should the state give same amount of compensation?

yes the states should give the same amount of compensation to death victims families.


How do you file your taxes if you are on workers compensation?

Workers compensation should send you a form that you will apply to your tax returns.


When a Workman's compensation case is presented what should the supervisor should do?

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