Before you startNothing. Add vendors as you use them rather than up front.
1
Invite rather than type
Invite vendor sends a link the contractor fills in themselves: company details, insurance, W-9.
It is better than typing it yourself because the tax details come from the person legally responsible for them, and their insurance expiry is tracked from then on.
2
Needs W-9 is the queue that matters in January
Pay a contractor more than the IRS threshold in a year and you owe them a 1099. You cannot file one without their W-9.
Chasing a W-9 in January from somebody who fixed a boiler last March is the version of this everybody wants to avoid.
Worth knowingRentari tracks the running total per vendor and flags who has crossed the threshold, so Needs 1099 is a list rather than a calculation.
Where to go next
- Maintenance boardAssign one of these vendors to a live job.
- AccountingWhat you have paid each of them this year.