Misleading Field Nation 1099 Amount | Freelance Tech Income Ideas | Field Nation Tips for Beginners

This is video is a part of my Field Nation series where I explain how the 1099 Field Nation sent me did not match the deposits I received from them. I explain how I accounted for this extra income that I never actually received so I wouldn’t be taxed on it.

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Video Transcript:

I received my Field Nation

for last year,

And it didn’t match the income

that I had in my accounting software.

If you have received your

and haven’t yet done your taxes,

I’m going to explain to you kind of what

I did to resolve the difference between

what Field Nation reported as my income

and what I showed

as my income.

On my Field Nation


it showed that I made $,..

The only problem is I showed that

I received deposits of only ,.

So there’s a distinct difference there.

And if you’re doing your taxes,

you want to be accurate.

Let me say, first of all, that I’m

not an accountant and I’m not an attorney.

So this is not accounting, legal,

or tax advice.

This is just for educational and entertainment


You can do with this what you will.

I did an export from QuickBooks where I do

my accounting software, and I pulled out

all of the deposits that I received

from Field Nation for last year.

So in total,

I received $,. in deposits.

Field Nation’s  reported to the IRS

that I made


The problem is, I need to account for that

$, difference.

If you’re paying additional Field

Nation fees beyond their normal %,

you can’t just do a straight %



I could have just put in this $,

as a transaction in my QuickBooks account

at the end of the year,

but I didn’t want to do that

because I don’t want to show

that entire expense at one time

at the end of the year.

I want that to be spread out

accurately across the year.

One nice thing that I do like

about the Field Nation  is

it shows a breakdown of every single month

of what they reported your income to be.

What I did to resolve this in my books

was to do the export

on the payment screen from Field Nation

and exported it to Excel.

So I would have the exact amount that

I was paid every month for Field Nation.

So number one,

I made sure that what I showed

in terms of deposits

matched what they showed on their website.

So that’s the first step

in reconciling it.

Then I needed to account for the fee.

So, for example, January,

I did a sum of all

the January deposits.

Comes out to $..

Then if I go to the , they reported

that I had an income of $..

If I were to just add

the difference here into my income,

then I would have income that

I never really received.

So I needed to actually create

an offsetting expense to make up for

the fact that there was a % fee taken

out, or whatever the fee would be for you.

Now, since I never actually received

that money, I can’t really add this

to my bank account.

So in QuickBooks,

I just use the Undeposited Funds account,

which is just a temporary holding account.

So at the end of every month, I put

in a transaction to show the difference

between what the  said that I made

and what my actual deposits were.

And then I created a offsetting expense,

calling it Field Nation fee,

so that when I did my taxes,

I wouldn’t have this

$, worth of income that I didn’t

actually have and get taxed on it.

To the best of my knowledge,

none of my other clients or platforms

do their ’s this way.

It’s a little annoying

that Field Nation does it this way.

The bottom line is,

as long as you understand the situation

and you have a way to account for it,

that’s really all that matters.

What you report to your accountant

needs to match what the  says.

You just need to make sure that your books,

for the other portion of it, for

those fees, are accounted for

so you’re not paying taxes on income

that you never actually received.

If you got value today from what I shared,

please like the video and subscribe

to the channel.

Check out all

my other videos on Field Nation

and other platforms and other clients.

And check out my website

at fieldtechacademy.com.

I have a direct client package available

that you can purchase that will bring you

a lot of additional clients

so you’re not dependent upon just  or

clients for all of your income.

As always, let’s get you out in the field

making money.

I’ll see you in the next video.

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