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Unresponsive Vendors – Collecting W9s

Resolve to get W9s before you pay!

Yup, it’s that time of year. We are pulling our hair out to collect W9 forms for all eligible vendors—fun, fun. Of course, it would be best if you had them finish preparing your 1099s, but it’s not a priority to them.

The trick is to request them before you make your first payment. It’s a new relationship. Everyone is on their best behavior, trying to impress the new client and who doesn’t want to get paid. Make the W9 a requirement for getting that first payment.

Unresponsive vendors - resolve to get W9s before you pay!

Unresponsive vendors – resolve to get W9s before you pay!

Problem solved, now about world peace…

Our job is to make your life easier. At ZümiFi, we sweat the details, so you don’t have to!

Speaking of details – don’t forget to touch base with your CPA. Confirm Balance Sheet items – loans, fixed assets, etc. –

You will want to send a clean list of assets purchased in 2016 and any assets “retired” to your CPA, so make sure those lists match what your balance sheet activity shows! And make sure your loan balance on the Balance Sheet matches the final loan statement for the year – some people may not have adjusted for the interest paid in 2016, and you won’t want to miss that deduction on your taxes!

Contact us today!

Unresponsive vendors – resolve to get W9s before you pay!

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