After spinning my wheels and trying to figure out what to do, including falling for some really stupid "make a zillion dollars today" BS, it dawns on me that my 10 years of professional skills as a web/writing/design project manager is not only my real talent, but my best viable option for starting my own business. (yeah- the bright shiny candy was hard to resist!)
I have started drawing up my plans for outsourcing the work through sites like ODesk & Elance, but am wondering how to handle taxes.
I know that if I hired US based contractors, I could claim their expense and they would have to claim anything over $600 on their taxes. Does that change if they are outside of the US? Can I still claim the expense? Is it my responsibility to track their earnings to that $600 mark? Do they have to file a 1099?
If you know or can point me to the answers, I would greatly appreciate it!