UGA - the gift that keeps on giving

[Crabcake Johnny]

Today in the mail - 1099's from UGA - one for $923.10 and another for $700.03.

Now, not only have I been gone since summer of 2004 but I was there for less than a year. Under their contract if you blow out before 12 months UGA keeps all future bonuses and renewals. And true to their agreement I haven't received a nickle since I left. Was told debt balance was taken care of a few months after I leave.

So the con is simple; everything is still in my name as the agent for tax purposes yet UGA gets all the money and doesn't pay taxes on it. Great operation they have going on there.

 

[K-Dub]

Funny you bring that up John, I got one for $2400 two days ago!

 

[STIBROKER]

Now, not only have I been gone since summer of 2004 but I was there for less than a year.

man john has it been that long.....it seems just like yesterday that I was calling you knucklehead.......

 

[maryjd123]

John how can they do that? Is that legal?

 

[Crabcake Johnny]

Nope - I called it was "thank you for bringing it to our attention and we'll take care of it." Bacially they get to rip off all the suckers who don't know any better.

 

[maryjd123]

Well John

make positively sure they put it in writing in case you get audited by the irs!!!!!!!!!!!!

 

[Crabcake Johnny]

Here's some good advise:

http://www.1099.com/c/ar/ta/redflags_t027.html

A CPA I once had said the IRS loves to chase after self-employed people who's 1099's are $100,000+ yet expense away everything on their Schedule C and showing how they have no money. Then it's audit time - especially if you're living a fat lifestyle.

 

[J.R.]

GREAT website. It might be a good idea to put together a forum specifically for websites that all of us have accumulated.

 

[NHB_MMA]

Today in the mail - 1099's from UGA - one for $923.10 and another for $700.03.

Now, not only have I been gone since summer of 2004 but I was there for less than a year. Under their contract if you blow out before 12 months UGA keeps all future bonuses and renewals. And true to their agreement I haven't received a nickle since I left. Was told debt balance was taken care of a few months after I leave.

So the con is simple; everything is still in my name as the agent for tax purposes yet UGA gets all the money and doesn't pay taxes on it. Great operation they have going on there.

You know, it's hard for me to take anything an insurance commissioner will say seriously as long as these guys are allowed to operate.