Analyzing Form W9s for 1099 Prep 2024

Overview

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.

Highlights

• Taxes
• Form 1099
• W9
• Vendors

Prerequisites

None

Designed For

CPAs and other accounting professionals involved with 1099 work.

Objectives

• 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

Preparation

None

Notice

This course is offered by a 3rd party vendor. Login instructions will not be accessible in the My CPE Tracker section of the ISCPA website. Login instructions will be emailed directly to you by California Education Foundation (CalCPA).