Keep What You Earn What is a W-9 and Who is Required to Have One
Today, we're diving into a crucial facet of your business that warrants a fresh look, offering you the opportunity to streamline your operations and avoid potential complications down the road.
When it comes to taxes, it's imperative to guarantee that you've got your contractor-related paperwork squared away.
Investing some time now to revisit this aspect of your business and confirm that you possess all the requisite documentation, including W9 forms from your contractors, can be a real lifesaver when tax season comes knocking.
What you'll hear in this episode:
[1:15] Take a closer look at this part of your business today to spare yourself some headaches as we approach year-end.
[2:49] How does this impact your business from a tax standpoint?
[4:20] What's the significance of obtaining that W9 form from your contractors right away?
[6:09] Explore the reasons why certain contractors might not be able to furnish a W9 for you.
[8:30] Discover the heightened importance of acquiring an updated W9 when your contractor has undergone a change in their business structure.
If you like this episode, check out:
How to Recover from a Slow Launch
How to Manage Rapid or Unexpected Growth
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The information contained in this podcast is intended for educational purposes only and is not individual tax advice. Please consult a qualified professional before implementing anything you learn.