About this template
Work type: Accounting
Location: United States
Client industry: Generic
Version: 1 (Latest)
This template includes
- 4 tasks
- Resources
1099 Potential Vendor Review
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| Team Tasks | ||
|---|---|---|
| Run Transaction List by Vendor report in CASH & note vendors paid $600 + in calendar year (not fiscal) for SERVICES | ||
| Rents paid to non-corp business | ||
| Lawyers | ||
| OTA gets one | ||
| Any service business that isn't obviously a large corporation (Yard work, maintenance, maid service, subcontractors) | ||
| Google any businesses you're not sure of | ||
| Verify vendor was paid with Checking account (credit card and 3rd party pmt processors aren't our responsibility) | ||
| Verify list against any 1099s filed last year | ||
| When in doubt send it to the client as a possibility anyway then verify later if they decide to have us file | ||
| Email client with potential list of 1099s | ||
| Attach form W9 for them to give to vendors | ||
| Include estimated flat fee amount for filing based on vendor list | ||
| Inform client 1099 billing will be a separate invoice in February | ||
| If yes, add 1099 Prep & Processing project to client from workflow templates & note on OTA client information sheet | ||
| If no, you're finished! | ||