March 19, 20196 yr I am the treasurer of a local non profit music association We do live music open mic events twice a month. Venues pay us $300 per event. .Org keeps $50 + tips The rest I distribute to musicians that help run it. I am sure the venue counts the $300 as an expense. How do I categorize that expense? Do I have to issue w-2/w-9 or whatever after $600 to each musician? Any thoughts or input? Sent from my iPhone using Tapatalk Pro
March 19, 20196 yr The $300 + tips is income and the $250 you pay the musicians is an expense. Yes, you will have to send a 1099 to the musicians for anyone that you pay more than $600. Make sure you get a W-9 from them (easiest to get before you pay them).
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