Hi,
I've only received one 1099 from the 12 or so companies I complete BPOs for. Is anyone receiving them for 2010? I don't want to spend the time to verify & then email all companies. Suggestions?
Strega

I got mine from CC, Core, EML, PCV, RRR, PT and fin. Not waiting on any

.

1099s are my broker's problem. Since my broker pays me, I get his 1099 showing my commission (BPOs) earned over the year, and he has to deal with all the paperwork for all of the mills.

I had a broker get upset from the paperwork involved. He kept insisting I put everything in my name (Its legal in Ohio with broker permission). It was so much easier for him to do the accounting though and write me one BPO check out every 2 weeks.

Understood Dayton. Here in Florida, the broker is supposed to write all real estate income disbursement checks including BPOs. I pay the guy a decent flat fee per month and in exchange he gives me E&O, a place to hang my license, and very good office support. I get paid every Friday like clockwork for all my mill checks that come in from that week. Since all mill checks are made out to the company, he deals with all the W9's at the end of the year. Life is good!

How does the office know what payments that are suppose to come to you ? Are you the only agent doing BPO work in the office ?

Most companies will put the name of the agent somewhere on the check or statement.

Many companies only allow one agent per office to work for them. I know that is the case with EML as well as many others. I have been doing BPOs since 2006, so I am ahead of all agents in my office in terms of getting hooked up with the mills. The office manager is truly fantastic. Every so often, there is minor confusion as to what mill check belongs to whom. To avoid that, all my W9s have attention my name on the line below the office address. Therefore my name actually appears below the company name and office address on many of the mill checks, which avoids any confusion as to that check being work that I completed.

I am still waiting on 1099s - I'm gonna wait to do my taxes until the first week in March - hoping I will have everything by then.