Analyzing Form W9s for 1099 Prep 2024

In this class, we will look at the true beginning of the Form 1099 preparation process: when a relationship with a new vendor is started. We will look at a series of Form W9s with different state-level and tax entity types. We will use that information to analyze how each vendor's W9, in concert with information about the vendor's goods/services provided, influences what kind of 1099 they may or may not receive come January 31. We will also talk about when a Form W9 should be collected from a new vendor.

Presenters - Anne Denise Freiermuth

Designed For: CPAs and other accounting professionals involved with 1099 work.

Role Level - Entry-level/Individual contributor; Sole Practitioner

• Recognize when a Form W9 needs to be collected from a new vendor
• Identify the process of determining when a vendor is a true independent contractor
• Identify the common components of a Form W9s and the different state level and tax entity types commonly listed
• Analyze how the components of the Form W9 and information about the vendor's goods/services provided flow to the Form 1099 preparation process

• Taxes
• Form 1099
• W9
• Vendors

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