Q&A

Tax Expectations for Consultants

One of our teachers has recently retired from the school district but has submit a proposal to serve as a consulant for the coming school year. Her proposal is for $4,500. What do I need to do in terms of taxes? Is there a specifl form that I need to submit to the federal government? Is this something that the teacher needs to handle? Is there something else that needs to be done? Any direction would be greatly appreciated.
- keith.desrosiers

What's the consulting for, and how is the parent group involved? If this is work for the school, your best course of action is to have the school hire the consultant and you donate the money to the school to pay the consultant. If that's not possible and you're doing the hiring, then make sure that you have a contract in place. It can be as simple as a letter that outlines expectations on both sides and is signed by both parties. You'll need a detailed invoice from the consultant in order to pay him. (How detailed depends on how involved the work is and the payment agreement, eg by the hour or flat fee). And you'll need to issue IRS form 1099 to the consultant at the end of the tax year. (I believe you have until Jan. 31 to issue the form for the previous year.) You'll then report the consulting fee on your annual form 990.
- Craig
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- Naten
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