A quick question for other USA-based members who pay contractors...
I know that in the USA, anytime you give someone more than $600.00 USD in a year, you have to '1099' them (apparently, that's a verb).
I know that in some situations, you simply send those people a 1099 form shortly before tax season (where do you get those forms?)
In other situations, especially once or twice when I was the contractor, I was asked to fill out a form upon meeting the person who'd be paying me. I can't, for the life of me, remember what form that was. (Maybe a W9?)
My question is, are these options equal and interchangeable? Is any one option better/preferred than another?
Thanks all.