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#1
12-26-2007, 11:53 AM
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 W9 vs 1099What is the name of your state? TX I hire out contractors to provide services to my customers. What do I need a W9 form for? And what do I need a 1099 form for? |
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#2
12-26-2007, 11:57 AM
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| The W-9 provides YOU with their social security number/ EIN for tax purposes. A 1099-MISC would need to be provided to all contractors earning more than $400/year. This is report to the government with a 1096 & the 1099's. If you are very new at this, I highly suggest an accounting office well versed in payroll issues.
__________________ If you don't like something, change it. If you can't change it, change your attitude. Don't complain. Maya Angelou |
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#3
12-26-2007, 12:34 PM
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$600 ...
__________________ * * The information I gave is based on my 7 seconds of research on Google. Review the information yourself to make an informed decision. Communication is KEY - 10 mins of talking now can save you months of headaches later! Masterfully stating the obvious to the oblivious! (Thanks SP!) Tell it like it is! When all else fails, make up a statistic!  Gender references shall apply equally to the other gender. I will not correct gender mistakes (unless I want to) |
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#4
12-26-2007, 12:42 PM
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| Um, it's changed to $400 because the requirement for filing a tax return is $400.28 for the self-employed. They coordinated it so that they are the same. I questioned that myself a couple of weeks ago when another accountant said that to me.
__________________ If you don't like something, change it. If you can't change it, change your attitude. Don't complain. Maya Angelou |
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#5
12-26-2007, 12:51 PM
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| Well, I'm beginning to question the other accountant since all the evidence I can find says $600. May Ldij might know something of this. Only reason we even brought it up was because I was going to have to issue a 1099-MISC for some outsourced work done by the accountant.
__________________ If you don't like something, change it. If you can't change it, change your attitude. Don't complain. Maya Angelou |
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#6
12-26-2007, 02:56 PM
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| My business is very small, but the contractors make about $2000 per year. Do I need both the 1099 and the W9 form? Or just one of them? |
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#7
12-26-2007, 03:01 PM
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| You give the w-9 for the CONTRACTOR to fill out and give back to you so that you can accurately report the 1099-MISC with their pay. A 1099 is reported with a 1096 & the 1099-MISC. Again, you may want to have an accountant do the filing. You can get a W-9 from the IRS website: www.irs.gov
__________________ If you don't like something, change it. If you can't change it, change your attitude. Don't complain. Maya Angelou |
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#8
12-26-2007, 03:53 PM
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