CEO and Founder of Kruze Consulting
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We created this video to help explain how Kruze Clients should use Track1099 to create and share 1099s. We are also sharing the transcript below.
The great thing about Track1099 is that it is very user friendly. To get started, you’re going to need an invite from Kruze and you’re going to need to set up your login through that invite. It’s very important that you do, because if you don’t, there could be a disconnect and we won’t be able to assign you to your file.
Once accepted and you’ve created your login, we can then go behind you and assign you to your file on the W-9 side. When you log in after we’ve assigned you, you’ll see your company name and go ahead and click that, which will bring you to a screen like this. It’s very simple to request forms, you just go over to Request Forms. W-9, this will be for all of your US-based contractors, and then a W-8BEN is gonna be for all of your international sole proprietors, and then for everybody else, overseas, internationally, would be the W-8BEN-E. So for this purpose, I’m just gonna show how to request a W-9. You just need to put the name and the email address.
If I was to go ahead and hit Send Request, which I will in a second, from this screen, it’s gonna take me back to the screen we were just at. If I fill all of these out all the way down and hit Send Request, it’s gonna bring me back to this screen. If you have quite a few that you wanna go back and all you need to request them is the name and the email address, what you can do is download this W-9 CSV template. The only two columns that need to be completed are the name and the email address. You can’t alter the file at all, though, in terms of the columns, et cetera, because then it’s their file, and their system won’t recognize it. But then you just save it, select the file, and import it, and it’ll actually bulk request those for you. It’ll let you know if there were any issues and which ones were sent successfully.
So I’m gonna go ahead and hit Send Request, and so when you request a W-9 form, the status is gonna sit at Requested. If Test Inc. were then to come behind us and submit their W-9 through that invite, it’s gonna show up here as Signed and you can also download a PDF version. It’s always best practice to give your contractors a heads up because unfortunately, as it stands right now, the Track1099 emails, while secure, can sometimes seem like phishing, so it’s a good idea to give them a heads up. However, it is way more secured to complete their W-9 through that link rather than attach a PDF file to an email for you. Another one entered here just so you can see the difference.
Let’s add for John Smith. Track 1099 really values email addresses. You’re gonna wanna make sure that you have a good email address. If I entered something incorrectly, it’ll actually come back and the status will say Bounced. Let’s see if I can show you that. I’ll do Jane Smith. So while that tries to get sent, again they’ll set it Requested, once they complete it through that invite, it’ll say Signed. However, what if they do send you a PDF? That’s no problem. You just come over to Manually Add Form, and if it’s a W-9, W-9 and so on, you don’t need to worry about the W-4, that’s for payroll, W-9, and all you’re gonna do is copy it over exactly as it is on the form, and make sure it’s exact. Make sure that the name, put it exactly as they have it on the form.
It’s very, very important that it matches their tax return. If not, you’ll get a CP notice, which is okay. We can go back and correct it, but let’s get it right the first time and let’s see. We’ll say an individual. And, again, this John Smith is just for this purpose. This person does not exist. I just wanna show everybody a good example. And then, again, not a real person. We just want this to be able to save. So I just took this off exactly what would be a W-9 form. And I can show you that I just made this myself and then it would have a signature and a date. W-9s are good, so long as the information on them has not changed. I’m gonna hit Save. So now that we have John Smith manually added, I’m gonna go ahead and get rid of this one. What I could do, say they didn’t respond and I wanted to do a blanket request all for the other three, I could hit Resend Email Request, I could click into John Smith and hit Resend Request.
We don’t need to do that though since he gave us a PDF form, so I’m gonna hit the delete, John Smith, and get rid of that requested form. Okay, I’m gonna go ahead and add Test Inc. to show you what these check boxes are. So, again, this is just another W-9 that I made up myself. We’ll say that there is C Corp. Let me just get their address in here. And also I’ve said it before, but Track1099 will not let you save a W-9 without an email address. Not only do we e-file these to the IRS through Track1099, but we also e-deliver them. We can mail it as a last resort through the system. It’s a little bit more expensive and it’s just easier and almost better to send it and e-deliver because we’re able to see the day that it was sent, the it was received by them, and whether or not they’ve actually opened it. To open their 1099 once it’s received, they’ll have to enter the last four of their social or their EIN. Let me get an employer identification number in here. Again, not a real company. Just for this video’s purpose. So I’m hit Save. Okay, so these boxes actually play a part.
Since it’s an individual, John is obviously gonna be getting a 1099. A C Corp, Track1099 recognizes that C Corps really oftentimes don’t need a 1099 form. In the rare occasion, for example, a law firm would still need one. If Test Inc. was a law firm, I can go ahead and select that box and then Kruze will actually, when it comes to 1099 time, go ahead and sync them over to the 1099 side. Again, if it’s manually or even if it was sitting at Signed, I can pull a PDF right here, if you wanted to pull one for your records. The only thing that it won’t have, obviously, is the signature, and that pretty much does it. Again, Track 1099 is very user friendly.
If you needed to add an international form, it’s the exact same thing. You just go to Manually Add Form, W-8BEN, W-8BEN-E. You should have everything that you need on that form. Kruze can advise on how to complete those. Your international contractors will need to work with their own accountants. So once you get that form, it should be good to go for your purposes and you should be able to just take it right off the form and put it into Track1099. If you have any questions, please feel free to reach out. We’re always happy to help.
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