Relieving 1099 stress

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Are you in the midst of trying to collect vendor information so that you can complete your 1099s?

I often find that vendors are reluctant to share their tax id information and if you have already paid them, they often have little or no incentive complete your paperwork request.

So my advice to you is to take care of this on the front end, so you don’t get stressed out on the back end. Before you pay a new vendor, ask them to complete a W-9 form so that you can “set them up” as a vendor.

You can get a W-9 form on the IRS website at www.irs.gov. It is easy to just send this as an email attachment. If you request that a vendor complete this before you pay them, trust me – they have incentive to complete this quickly and get it back to you for your files! Plus this is the documentation that the IRS wants you to have on file . . .

Once you have this information in your system, it is easy to input the information into QuickBooks. And once everything is in QuickBooks, printing our your 1099s at this time of year is a breeze! So resolve to reduce or eliminate 1099 stress – this could be your year . . .

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