Do This, Not That: 1099s

Do This, Not That: 1099s

Do This:

Proactively collect W-9s from vendors throughout the year. When you start working with a new vendor, request their W-9 immediately. Regularly check that you have a 1099 on file for each eligible vendor as you process payments. Use tools like QuickBooks Online (QBO) Contractor section or third-party platforms like Track1099 to manage and store forms efficiently.

Not That:

Don’t wait until December or January to scramble for missing W-9s. This last-minute rush can result in errors, compliance issues, and unnecessary stress. Avoid skipping W-9 collection for vendors selling products or incorporated entities—it’s better to have them on file just in case.

Proactive 1099 management saves time, reduces errors, and keeps your business compliant. Need help staying on top of 1099s? Let’s connect!