I understand they need to send me a W-9, but what do I do with it? Any other forms or advice would be greatly appreciated.
December 16, 2009
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Loading ...I just started my own company and plan on paying freelancers commissions. What tax form do I need to have?
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W-9 is to confirm that they are U.S. residents; you get their SSN, and know if you are required to withhold tax on the payment or not. Normally on W-9, you will see "exempt from withholding" checked.
Also if the payment is $600 or more in the year, you must issue 1099-misc.
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Comment by Jss — December 16, 2009 @ 1:13 am
You need to issue them 1099s at the end of the year.
Dutch Uncle Zeuz strongly recommends that you hire a bookkeeping service to handle these matters — especially because you’re asking an extremely basic question.
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Comment by zeuz — December 16, 2009 @ 1:13 am
Save the w-9 and use the info to file a 1099 at the end of the year. fprms and instructions available at irs.gov
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Comment by jack bauer — December 16, 2009 @ 1:13 am