I wanted to start a company and had one investor that new what I could do and how fast I can turn money over. She puts in $$40,000. so we have an S corp. Well she does. She put the name 100% under her name. At the first meeting we will deside the shares. I am the company 100%. She put 40,000 in for an investment. in 1 year I over doubled her money. she never gave e any shares like she said and the wants to sell me shares to get in the company. the same company I built from ground up. she paid me my profit through the year. then she sent me a 1099 as a private contractor..... that is weak and I want to take action..
What do I do about the 1099??? I should not have been 1099 and she didn't take out any taxes from it.
What do I do about the 1099??? I should not have been 1099 and she didn't take out any taxes from it.
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