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Reporting indirect expenses on a 1099-NEC
December 4, 2024
Q. I am looking for guidance on 1099-NEC reporting. We have a couple vendors whose agreements are set up to charge $X or X% for overhead or as a "flat expense charge." I believe these should be reported on their 1099s as they are not tied to receipts or specific expenses incurred. For example, one agreement charges a 5% flat expense fee to cover expenses such copying costs, postage, administrative billable time, report processing fees, filing fees, and technology expenses. I was reading up on…
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