Analyzing Form W9s for 1099 Prep WEBCAST

Overview

In this class, we will look at the true beginning of the Form 1099 preparation process: when a relationship with a new vendor is started. We will look at a series of Form W9s with different state-level and tax entity types. We will use that information to analyze how each vendor’s W9, in concert with information about the vendor’s goods/services provided, influences what kind of 1099 they may or may not receive come January 31. We will also talk about when a Form W9 should be collected from a new vendor.

Highlights

Taxes. Form 1099. W9. Vendors.

Prerequisites

None.

Designed For

CPAs and other accounting professionals involved with 1099 work.

Objectives

Recognize when a Form W9 needs to be collected from a new vendor. Identify the process of determining when a vendor is a true independent contractor. Identify the common components of a Form W9s and the different state level and tax entity types commonly listed. Analyze how the components of the Form W9 and information about the vendor’s goods/services provided flow to the Form 1099 preparation process.

Preparation

None.

Notice

None.