Did You Collect the Needed W-9s?

Article Highlights:

• The IRS Form W-9 is used to obtain independent contractors’ tax ID numbers.
  
• Tax ID numbers are required when filing 1099s.
  
• 1099-MISCs must be issued to independent contractors that are paid $600 or more during the year for performing services for a trade or business.

If you used independent contractors to perform services for your business or trade, and you paid them $600 or more for the year, you must issue them a Form 1099-MISC to get the deduction for their labor and expenses and avoid potential penalties. (This requirement generally does not apply to payments made to a corporation. However, the corporation exception does not apply to payments made for attorney fees and for certain payments for medical or health care services.)

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Meet George at Tax Pro Plus in Los Angeles

George has been preparing taxes for over 20 years. He is an Enrolled Agent and a member of the National Association of Enrolled Agents and the California Society of Enrolled Agents.

In his 20 years of preparing taxes, he has represented taxpayers in audits, taught classes and explained taxes to hundreds of clients. George prepares taxes for individuals, small businesses and registered domestic partners.

If you are in need of tax services or just have questions, please e-mail George at George@TaxProPlus-LA.com or call 310-827-4829.  

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Tax Pro Plus

11607 Pico Blvd.

Los Angeles, CA 90064

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310-827-4829