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Transcript

Am I Filing My 1099s (or My W-9) Correctly? · Becoming Financially Confident

• 0:37
  You
• 0:37
  did
• 0:37
  what
• 0:38
  you're
• 0:38
  supposed
• 0:38
  to
• 0:38
  do.
• 0:39
  You
• 0:39
  hired
• 0:39
  some
• 0:40
  contractors,
• 0:40
  you
• 0:41
  collected
• 0:41
  W9
• 0:42
  forms,
• 0:43
  and
• 0:43
  you're
• 0:43
  trying
• 0:43
  to
• 0:44
  file
• 0:44
  the
• 0:44
  right
• 0:44
  forms.
• 0:45
  Or
• 0:45
  maybe
• 0:46
  you're
• 0:46
  on
• 0:46
  the
• 0:46
  other
• 0:46
  side
• 0:46
  of
• 0:47
  this
• 0:47
  and
• 0:47
  someone
• 0:47
  just
• 0:47
  handed
• 0:48
  you
• 0:48
  that
• 0:48
  W9
• 0:49
  form
• 0:49
  and
• 0:49
  you're
• 0:49
  like,
• 0:50
  ralph,
• 0:50
  I
• 0:50
  got
• 0:50
  no
• 0:51
  idea
• 0:51
  what
• 0:51
  to
• 0:51
  do
• 0:51
  with
• 0:51
  this.
• 0:53
  And
• 0:53
  right
• 0:53
  now
• 0:53
  you're
• 0:54
  trying
• 0:54
  to
• 0:54
  figure
• 0:54
  out
• 0:54
  1099s
• 0:56
  W9s.
• 0:56
  You're
• 0:57
  thinking
• 0:57
  in
• 0:57
  terms
• 0:58
  of
• 0:58
  names
• 0:58
  and
• 0:58
  LLCs
• 0:59
  and
• 0:59
  EINs,
• 1:00
  and
• 1:00
  you're
• 1:00
  like,
• 1:01
  what
• 1:01
  if
• 1:01
  this
• 1:01
  all
• 1:01
  goes
• 1:02
  wrong?
• 1:03
  Well,
• 1:03
  today
• 1:03
  I'm
• 1:03
  going
• 1:04
  to
• 1:04
  help
• 1:04
  you
• 1:04
  slow
• 1:04
  down.
• 1:05
  Going
• 1:05
  to
• 1:05
  be
• 1:05
  check
• 1:06
  what
• 1:06
  matters
• 1:06
  and
• 1:06
  understand
• 1:07
  what
• 1:07
  happens
• 1:08
  if
• 1:08
  something
• 1:08
  doesn't
• 1:09
  match.
• 1:10
  Because
• 1:10
  you
• 1:10
  don't
• 1:10
  need
• 1:10
  panic.
• 1:11
  You
• 1:11
  need
• 1:11
  a
• 1:12
  process.
• 1:12
  And
• 1:13
  that's
• 1:13
  exactly
• 1:13
  what
• 1:13
  I'm
• 1:14
  going
• 1:14
  to
• 1:14
  give
• 1:14
  you
• 1:14
  on
• 1:14
  today's
• 1:14
  show.
• 1:24
  Hello
• 1:24
  and
• 1:24
  welcome
• 1:25
  to
• 1:25
  Financially
• 1:25
  Confident
• 1:26
  Christian.
• 1:27
  Now,
• 1:27
  today
• 1:27
  is
• 1:28
  an
• 1:28
  interesting
• 1:29
  type
• 1:29
  of
• 1:29
  episode.
• 1:30
  This
• 1:30
  is
• 1:30
  not
• 1:30
  one
• 1:30
  we
• 1:31
  usually
• 1:31
  handle.
• 1:32
  This
• 1:32
  is
• 1:32
  more
• 1:32
  suited
• 1:33
  towards
• 1:33
  the
• 1:33
  business
• 1:34
  person
• 1:34
  either
• 1:35
  hiring
• 1:35
  a
• 1:35
  contractor
• 1:36
  or
• 1:36
  maybe
• 1:37
  you're
• 1:37
  a
• 1:37
  contractor
• 1:38
  yourself.
• 1:39
  This
• 1:39
  we
• 1:39
  just
• 1:39
  got
• 1:40
  out
• 1:40
  of
• 1:40
  1099.
• 1:41
  Season
• 1:41
  tax
• 1:42
  filing
• 1:42
  is
• 1:42
  over.
• 1:43
  But
• 1:43
  this
• 1:44
  is
• 1:44
  one
• 1:44
  of
• 1:44
  those
• 1:44
  things
• 1:44
  a
• 1:45
  lot
• 1:45
  of
• 1:45
  people
• 1:45
  struggle
• 1:46
  with
• 1:46
  because
• 1:46
  maybe
• 1:46
  you're
• 1:47
  staring
• 1:47
  at
• 1:47
  a
• 1:47
  W9
• 1:48
  and
• 1:48
  you're
• 1:48
  wondering,
• 1:49
  how
• 1:49
  do
• 1:49
  I
• 1:49
  even
• 1:49
  fill
• 1:49
  this
• 1:50
  out?
• 1:50
  Ralph,
• 1:50
  you're
• 1:51
  worried
• 1:51
  about
• 1:51
  if
• 1:51
  you
• 1:52
  got
• 1:52
  to
• 1:52
  send
• 1:52
  these
• 1:52
  in,
• 1:53
  will
• 1:53
  the
• 1:53
  IRS
• 1:53
  reject
• 1:54
  these
• 1:54
  and
• 1:54
  give
• 1:55
  you
• 1:55
  penalties?
• 1:56
  And
• 1:56
  we're
• 1:56
  also
• 1:56
  going
• 1:57
  to
• 1:57
  talk
• 1:57
  about
• 1:58
  how
• 1:58
  to
• 1:58
  handle
• 1:58
  this
• 1:58
  as
• 1:59
  a
• 1:59
  freelancer
• 2:00
  if
• 2:00
  you're
• 2:00
  working
• 2:00
  as
• 2:01
  a
• 2:01
  side
• 2:01
  gig.
• 2:02
  Now,
• 2:02
  before
• 2:02
  we
• 2:02
  get
• 2:03
  into
• 2:03
  today's
• 2:03
  listener
• 2:04
  question,
• 2:04
  if
• 2:04
  you've
• 2:04
  got
• 2:04
  a
• 2:04
  question
• 2:05
  for
• 2:05
  this
• 2:05
  show,
• 2:06
  I
• 2:06
  would
• 2:06
  love
• 2:06
  to
• 2:06
  hear
• 2:07
  it.
• 2:07
  You
• 2:07
  can
• 2:07
  submit
• 2:08
  a
• 2:08
  question
• 2:08
  by
• 2:08
  going
• 2:08
  to
• 2:09
  financiallyconfidentchristian.com/question
• 2:13
  We'll
• 2:13
  put
• 2:14
  a
• 2:14
  link
• 2:14
  in
• 2:14
  the
• 2:14
  show
• 2:14
  notes,
• 2:14
  but
• 2:15
  again,
• 2:15
  that's
• 2:15
  financially
• 2:16
  confidentchristian.com?
• 2:20
  Let's
• 2:20
  get
• 2:20
  today's
• 2:21
  listener
• 2:21
  question.
• 2:22
  This
• 2:23
  narrates
• 2:23
  this.
• 2:23
  Hi,
• 2:23
  Ralph.
• 2:24
  I.
• 2:24
  I'm
• 2:24
  a
• 2:25
  sole
• 2:25
  proprietor
• 2:26
  and
• 2:26
  I
• 2:26
  hired
• 2:26
  three
• 2:27
  contractors
• 2:27
  last
• 2:28
  year.
• 2:28
  This
• 2:29
  is
• 2:29
  my
• 2:29
  first
• 2:29
  time
• 2:29
  filling
• 2:30
  out
• 2:30
  1099s,
• 2:30
  and
• 2:31
  I'm
• 2:32
  pretty
• 2:32
  nervous
• 2:32
  about
• 2:33
  messing
• 2:33
  it
• 2:33
  up.
• 2:34
  I
• 2:34
  got
• 2:34
  W9s
• 2:35
  from
• 2:35
  all
• 2:35
  of
• 2:36
  them,
• 2:36
  but
• 2:36
  now
• 2:37
  I'm
• 2:37
  looking
• 2:37
  at
• 2:37
  the
• 2:37
  forms
• 2:37
  and
• 2:38
  I'm
• 2:38
  realizing
• 2:38
  I
• 2:39
  have
• 2:39
  no
• 2:39
  idea
• 2:40
  if
• 2:40
  the
• 2:40
  information
• 2:41
  is
• 2:41
  actually
• 2:41
  correct.
• 2:42
  One
• 2:43
  contractor
• 2:43
  put
• 2:44
  their
• 2:44
  LLC
• 2:44
  name
• 2:45
  on
• 2:45
  the
• 2:45
  form,
• 2:46
  but
• 2:46
  I
• 2:46
  don't
• 2:46
  know
• 2:46
  if
• 2:46
  the
• 2:46
  IRS
• 2:47
  has
• 2:47
  them
• 2:47
  registered
• 2:47
  as
• 2:48
  an
• 2:48
  LLC
• 2:48
  or
• 2:48
  as
• 2:48
  an
• 2:49
  individual.
• 2:50
  Another
• 2:50
  one's
• 2:51
  a
• 2:51
  corporation
• 2:52
  and
• 2:52
  their
• 2:52
  ein
• 2:53
  doesn't
• 2:53
  match
• 2:53
  what
• 2:53
  I
• 2:54
  thought
• 2:54
  ein's
• 2:54
  look
• 2:55
  like.
• 2:56
  If
• 2:56
  I
• 2:56
  file
• 2:57
  these
• 2:57
  and
• 2:57
  the
• 2:57
  IRS
• 2:58
  rejects
• 2:58
  them,
• 2:58
  what
• 2:58
  Happens?
• 2:59
  Do
• 2:59
  I
• 3:00
  get
• 3:00
  penalized
• 3:00
  on
• 3:01
  top
• 3:01
  of
• 3:01
  having
• 3:01
  to
• 3:01
  fix
• 3:01
  it?
• 3:02
  And
• 3:02
  is
• 3:03
  there
• 3:03
  a
• 3:03
  way
• 3:03
  to
• 3:03
  verify
• 3:04
  the
• 3:04
  names
• 3:05
  and
• 3:05
  the
• 3:06
  identification
• 3:06
  numbers
• 3:07
  actually
• 3:07
  match
• 3:08
  IRS
• 3:08
  records
• 3:09
  before
• 3:09
  I
• 3:09
  submit?
• 3:10
  Or
• 3:10
  do
• 3:10
  you
• 3:10
  just
• 3:11
  file
• 3:11
  and
• 3:11
  hope
• 3:11
  everything
• 3:12
  is
• 3:12
  right?
• 3:13
  I'd
• 3:13
  rather
• 3:13
  get
• 3:14
  this
• 3:14
  right
• 3:14
  the
• 3:14
  first
• 3:15
  time.
• 3:16
  Any
• 3:16
  guidance
• 3:16
  would
• 3:16
  help.
• 3:17
  Thank
• 3:17
  you.
• 3:18
  Like
• 3:18
  I
• 3:18
  said,
• 3:19
  this
• 3:19
  is
• 3:19
  a
• 3:19
  more
• 3:20
  intricate
• 3:21
  question
• 3:21
  generally
• 3:21
  suited
• 3:22
  towards
• 3:22
  business
• 3:22
  people
• 3:23
  today.
• 3:23
  So
• 3:23
  if
• 3:23
  you're
• 3:24
  not
• 3:24
  a
• 3:24
  business
• 3:24
  owner,
• 3:24
  I'm
• 3:25
  going
• 3:25
  to
• 3:25
  give
• 3:25
  you
• 3:25
  the
• 3:26
  excuse.
• 3:26
  You
• 3:27
  can
• 3:27
  pass
• 3:27
  this
• 3:27
  episode
• 3:28
  if
• 3:28
  you
• 3:28
  want
• 3:28
  to,
• 3:29
  but
• 3:29
  as
• 3:29
  a
• 3:29
  business
• 3:30
  owner
• 3:30
  or
• 3:30
  as
• 3:31
  a
• 3:31
  person
• 3:31
  that
• 3:32
  is
• 3:32
  acting
• 3:32
  as
• 3:33
  a
• 3:33
  contractor,
• 3:34
  you're
• 3:34
  responsible
• 3:35
  for
• 3:35
  this
• 3:35
  stuff.
• 3:36
  You're
• 3:36
  responsible
• 3:37
  for
• 3:37
  collecting
• 3:37
  the
• 3:37
  correct
• 3:38
  information.
• 3:39
  You're
• 3:39
  responsible
• 3:40
  for
• 3:40
  filing
• 3:40
  it
• 3:40
  on
• 3:41
  time.
• 3:41
  And
• 3:41
  you're
• 3:42
  also
• 3:42
  responsible
• 3:43
  for
• 3:43
  fixing
• 3:43
  any
• 3:43
  problems
• 3:44
  as
• 3:44
  they
• 3:44
  come
• 3:44
  up,
• 3:45
  not
• 3:45
  for
• 3:45
  guessing
• 3:46
  what
• 3:46
  someone
• 3:46
  meant
• 3:47
  to
• 3:47
  Write
• 3:47
  on
• 3:47
  that
• 3:47
  W9
• 3:48
  form.
• 3:49
  Let's
• 3:49
  get
• 3:49
  into
• 3:50
  the
• 3:50
  details,
• 3:51
  what
• 3:51
  the
• 3:51
  W9
• 3:52
  form
• 3:52
  actually
• 3:53
  does,
• 3:53
  because
• 3:53
  you
• 3:53
  might
• 3:53
  be
• 3:54
  listening
• 3:54
  to
• 3:54
  this
• 3:54
  right
• 3:54
  now.
• 3:55
  You're
• 3:55
  like,
• 3:55
  ralph,
• 3:55
  I
• 3:55
  don't
• 3:55
  even
• 3:55
  know
• 3:56
  what
• 3:56
  a
• 3:56
  W9
• 3:57
  is.
• 3:57
  You
• 3:58
  might
• 3:58
  know
• 3:58
  what
• 3:58
  a
• 3:58
  W2
• 3:59
  is.
• 3:59
  Maybe
• 3:59
  you've
• 3:59
  worked
• 3:59
  for
• 4:00
  somebody.
• 4:00
  A
• 4:01
  W9
• 4:01
  is
• 4:02
  nothing
• 4:02
  more
• 4:02
  than
• 4:02
  a
• 4:03
  certification.
• 4:05
  On
• 4:05
  a
• 4:05
  W9,
• 4:06
  a
• 4:06
  contractor
• 4:07
  is
• 4:07
  attesting
• 4:08
  to
• 4:08
  their
• 4:08
  name,
• 4:09
  to
• 4:09
  their
• 4:09
  identification
• 4:10
  number
• 4:11
  and
• 4:11
  the
• 4:11
  tax
• 4:12
  classification
• 4:13
  that
• 4:13
  they're
• 4:13
  using.
• 4:14
  You
• 4:14
  use
• 4:15
  it
• 4:15
  to
• 4:15
  decide
• 4:15
  if
• 4:16
  a
• 4:16
  1099
• 4:17
  is
• 4:17
  required
• 4:17
  and
• 4:18
  what
• 4:18
  goes
• 4:18
  on
• 4:18
  it.
• 4:19
  Now,
• 4:20
  it's
• 4:20
  not
• 4:20
  your
• 4:20
  job
• 4:20
  to
• 4:21
  know
• 4:21
  how
• 4:21
  they're
• 4:21
  registered
• 4:22
  with
• 4:22
  the
• 4:22
  state
• 4:22
  or
• 4:22
  the
• 4:22
  irs.
• 4:23
  This
• 4:23
  is
• 4:23
  why
• 4:24
  you're
• 4:24
  giving
• 4:24
  them
• 4:24
  this
• 4:25
  form.
• 4:25
  You're
• 4:26
  asking
• 4:26
  them,
• 4:26
  hey,
• 4:27
  what
• 4:27
  does
• 4:27
  your
• 4:27
  registration
• 4:28
  look
• 4:28
  like?
• 4:29
  Your
• 4:29
  job
• 4:30
  is
• 4:30
  to
• 4:30
  request
• 4:31
  the
• 4:31
  W9
• 4:32
  check
• 4:32
  to
• 4:32
  make
• 4:33
  sure
• 4:33
  there's
• 4:33
  no
• 4:33
  obvious
• 4:34
  gaps
• 4:35
  and
• 4:35
  file
• 4:35
  it
• 4:35
  based
• 4:36
  on
• 4:36
  what
• 4:36
  they
• 4:36
  gave
• 4:37
  you.
• 4:37
  Now,
• 4:38
  let's
• 4:38
  talk
• 4:38
  about
• 4:38
  obvious
• 4:39
  gaps.
• 4:39
  If
• 4:40
  there's
• 4:40
  no
• 4:40
  name
• 4:40
  on
• 4:41
  the
• 4:41
  form,
• 4:41
  ding,
• 4:42
  ding,
• 4:42
  ding,
• 4:42
  that's
• 4:43
  not
• 4:43
  going
• 4:43
  to
• 4:43
  work.
• 4:44
  If
• 4:44
  they
• 4:44
  haven't
• 4:44
  given
• 4:45
  you
• 4:45
  an
• 4:45
  identification
• 4:46
  number,
• 4:46
  ding,
• 4:47
  ding,
• 4:47
  ding,
• 4:47
  that's
• 4:48
  not
• 4:48
  going
• 4:48
  to
• 4:48
  work.
• 4:49
  If
• 4:49
  they
• 4:49
  haven't
• 4:50
  classified
• 4:50
  their
• 4:51
  business,
• 4:51
  that's
• 4:51
  not
• 4:52
  going
• 4:52
  to
• 4:52
  work.
• 4:52
  And
• 4:53
  if
• 4:53
  it's
• 4:53
  not
• 4:53
  complete,
• 4:54
  that's
• 4:54
  not
• 4:55
  going
• 4:55
  to
• 4:55
  work.
• 4:56
  So
• 4:56
  give
• 4:56
  it
• 4:56
  the
• 4:56
  old
• 4:56
  eyeball
• 4:57
  test.
• 4:57
  My
• 4:57
  grandmother
• 4:58
  used
• 4:58
  to
• 4:58
  say,
• 4:58
  let's
• 4:58
  put
• 4:58
  some
• 4:58
  eyeballs
• 4:59
  on
• 4:59
  this.
• 5:00
  If
• 5:00
  something
• 5:00
  looks
• 5:01
  off,
• 5:02
  don't
• 5:03
  make
• 5:03
  a
• 5:03
  federal
• 5:03
  case
• 5:03
  about
• 5:04
  it.
• 5:04
  Just
• 5:04
  ask
• 5:05
  them
• 5:05
  to
• 5:05
  confirm
• 5:05
  it
• 5:06
  or
• 5:06
  correct
• 5:06
  it.
• 5:07
  You
• 5:07
  don't
• 5:07
  have
• 5:07
  an
• 5:07
  obligation
• 5:08
  to
• 5:08
  investigate
• 5:09
  it.
• 5:09
  You
• 5:09
  just
• 5:09
  have
• 5:10
  to
• 5:10
  do
• 5:10
  what's
• 5:10
  called
• 5:10
  due
• 5:11
  diligence.
• 5:12
  Now,
• 5:12
  two
• 5:13
  things
• 5:13
  that
• 5:13
  look
• 5:14
  wrong
• 5:14
  but
• 5:14
  usually
• 5:15
  aren't.
• 5:15
  This
• 5:15
  is
• 5:15
  the
• 5:15
  thing
• 5:15
  that
• 5:16
  trips
• 5:16
  up
• 5:16
  a
• 5:16
  lot
• 5:17
  of
• 5:17
  my
• 5:17
  small
• 5:17
  business
• 5:18
  Clients,
• 5:18
  let's
• 5:19
  start
• 5:19
  with
• 5:19
  LLC
• 5:20
  names.
• 5:20
  This
• 5:21
  is
• 5:21
  the
• 5:21
  most
• 5:21
  common
• 5:22
  1099
• 5:23
  headache.
• 5:24
  Single
• 5:24
  Member
• 5:25
  LLCs
• 5:25
  is
• 5:26
  often
• 5:26
  called
• 5:26
  what's
• 5:27
  called
• 5:27
  a
• 5:27
  disregarded
• 5:28
  entity
• 5:28
  by
• 5:28
  the
• 5:29
  irs.
• 5:30
  They
• 5:30
  match
• 5:30
  the
• 5:31
  identification
• 5:31
  number
• 5:32
  to
• 5:32
  the
• 5:32
  owner's
• 5:32
  legal
• 5:33
  name,
• 5:33
  not
• 5:33
  the
• 5:34
  LLC
• 5:34
  name.
• 5:34
  That's
• 5:34
  why
• 5:34
  I
• 5:35
  said
• 5:35
  that
• 5:35
  a
• 5:35
  little
• 5:35
  while
• 5:35
  ago.
• 5:36
  If
• 5:36
  you
• 5:36
  get
• 5:36
  a
• 5:37
  1090
• 5:37
  or
• 5:37
  W9
• 5:38
  form
• 5:38
  and
• 5:39
  you're
• 5:39
  like,
• 5:39
  why
• 5:39
  did
• 5:39
  they
• 5:40
  put
• 5:40
  an
• 5:40
  LLC
• 5:40
  name?
• 5:41
  But
• 5:41
  then
• 5:41
  they
• 5:42
  say
• 5:42
  they're
• 5:42
  a
• 5:42
  sole
• 5:42
  proprietor,
• 5:44
  the
• 5:44
  W9
• 5:45
  Line
• 5:45
  1
• 5:46
  should
• 5:46
  be
• 5:46
  whatever
• 5:47
  the
• 5:47
  tax
• 5:48
  return
• 5:48
  name
• 5:49
  is
• 5:49
  going
• 5:49
  to
• 5:49
  be.
• 5:50
  If
• 5:50
  they're
• 5:50
  a
• 5:51
  single
• 5:51
  member
• 5:51
  LLC,
• 5:52
  that
• 5:52
  should
• 5:52
  be
• 5:52
  their
• 5:52
  personal
• 5:53
  name.
• 5:54
  Now,
• 5:54
  on
• 5:54
  the
• 5:54
  second
• 5:54
  line
• 5:55
  of
• 5:55
  the
• 5:55
  W9,
• 5:56
  that's
• 5:56
  where
• 5:56
  they
• 5:56
  can
• 5:57
  put
• 5:57
  the
• 5:57
  business
• 5:57
  name
• 5:58
  in
• 5:58
  which
• 5:58
  or
• 5:58
  a
• 5:59
  disregarded
• 5:59
  entity
• 6:00
  name
• 6:01
  only
• 6:01
  on
• 6:02
  an
• 6:02
  LLC
• 6:02
  name
• 6:03
  on
• 6:03
  line
• 6:03
  one
• 6:03
  with
• 6:04
  no
• 6:04
  legal
• 6:04
  name
• 6:05
  could
• 6:05
  be
• 6:05
  a
• 6:05
  mismatch
• 6:06
  risk.
• 6:07
  So
• 6:07
  listen,
• 6:07
  it's
• 6:07
  not
• 6:07
  complicated.
• 6:08
  Ask
• 6:08
  the
• 6:08
  contractor,
• 6:09
  can
• 6:09
  you
• 6:10
  confirm
• 6:10
  the
• 6:10
  correct
• 6:11
  tax
• 6:11
  name
• 6:11
  on
• 6:12
  line
• 6:12
  one
• 6:13
  and
• 6:13
  your
• 6:13
  identification
• 6:14
  number?
• 6:14
  You
• 6:15
  don't
• 6:15
  have
• 6:15
  to
• 6:15
  accuse
• 6:15
  them,
• 6:16
  just
• 6:16
  a
• 6:16
  chance
• 6:17
  to
• 6:17
  correct
• 6:17
  it
• 6:17
  before
• 6:18
  filing.
• 6:19
  When
• 6:19
  we
• 6:19
  get
• 6:20
  that
• 6:20
  W9
• 6:20
  back,
• 6:21
  keep
• 6:21
  both
• 6:21
  files,
• 6:22
  but
• 6:22
  file
• 6:22
  the
• 6:22
  corrected
• 6:23
  one.
• 6:23
  Now
• 6:24
  let's
• 6:24
  talk
• 6:24
  about
• 6:24
  EIN
• 6:25
  numbers
• 6:25
  and
• 6:25
  corporations,
• 6:26
  because
• 6:26
  this
• 6:26
  fouls
• 6:27
  up
• 6:27
  a
• 6:27
  lot
• 6:27
  of
• 6:28
  people.
• 6:29
  People
• 6:29
  understand
• 6:29
  what
• 6:30
  a
• 6:30
  Social
• 6:30
  Security
• 6:30
  number
• 6:30
  is.
• 6:31
  An
• 6:32
  EIN
• 6:32
  is
• 6:33
  something
• 6:33
  different.
• 6:34
  An
• 6:34
  EIN
• 6:35
  is
• 6:35
  something
• 6:36
  that
• 6:36
  the
• 6:36
  IRS
• 6:37
  assigns
• 6:37
  to
• 6:37
  an
• 6:38
  entity,
• 6:39
  but
• 6:39
  it
• 6:39
  doesn't
• 6:39
  tell
• 6:39
  you
• 6:40
  anything
• 6:40
  about
• 6:40
  the
• 6:40
  type
• 6:41
  of
• 6:41
  entity.
• 6:41
  So
• 6:42
  if
• 6:42
  it
• 6:42
  looks
• 6:42
  like
• 6:42
  a
• 6:42
  funny
• 6:43
  number,
• 6:43
  don't
• 6:43
  just
• 6:43
  say,
• 6:43
  well,
• 6:43
  this
• 6:44
  can't
• 6:44
  be
• 6:44
  right.
• 6:45
  The
• 6:45
  real
• 6:45
  question
• 6:46
  is,
• 6:46
  do
• 6:46
  you
• 6:46
  need
• 6:47
  to
• 6:47
  issue
• 6:47
  this
• 6:48
  corporation
• 6:48
  a
• 6:48
  1099
• 6:49
  at
• 6:49
  all?
• 6:50
  Many
• 6:50
  corporate
• 6:51
  payments
• 6:51
  are
• 6:52
  actually
• 6:52
  exempt
• 6:52
  from
• 6:53
  1099
• 6:54
  filing.
• 6:55
  Attorney
• 6:55
  payments
• 6:55
  usually
• 6:56
  are
• 6:56
  required.
• 6:57
  Medical,
• 6:57
  health
• 6:57
  care
• 6:58
  payments
• 6:58
  are
• 6:58
  usually
• 6:59
  required.
• 7:00
  But
• 7:00
  check
• 7:00
  those
• 7:01
  things
• 7:01
  and
• 7:01
  make
• 7:02
  sure
• 7:02
  you
• 7:02
  understand
• 7:03
  what
• 7:03
  you're
• 7:03
  doing.
• 7:04
  Good
• 7:04
  records
• 7:05
  aren't
• 7:05
  there
• 7:05
  to
• 7:05
  burden
• 7:06
  you.
• 7:06
  They're
• 7:06
  there
• 7:06
  to
• 7:07
  protect
• 7:07
  you
• 7:08
  now.
• 7:08
  So
• 7:08
  you've
• 7:08
  collected
• 7:09
  the
• 7:09
  information,
• 7:10
  you've
• 7:10
  given
• 7:10
  it
• 7:10
  the
• 7:10
  grandma
• 7:11
  eyeball
• 7:11
  test.
• 7:12
  So
• 7:12
  verify
• 7:13
  before
• 7:13
  you
• 7:14
  file.
• 7:15
  And
• 7:15
  if
• 7:15
  you
• 7:15
  don't
• 7:16
  do
• 7:16
  that,
• 7:16
  here's
• 7:16
  what
• 7:16
  happens.
• 7:17
  Let's
• 7:18
  talk
• 7:18
  about
• 7:18
  verification.
• 7:18
  First,
• 7:19
  you
• 7:19
  can
• 7:20
  check
• 7:20
  the
• 7:20
  name
• 7:20
  and
• 7:21
  the
• 7:21
  identification
• 7:22
  number
• 7:22
  against
• 7:22
  IRS
• 7:23
  records
• 7:23
  before
• 7:23
  submitting.
• 7:24
  It's
• 7:24
  really
• 7:24
  simple.
• 7:25
  You
• 7:25
  can
• 7:25
  go
• 7:25
  out
• 7:25
  to
• 7:25
  the
• 7:26
  IRIS
• 7:26
  website
• 7:27
  and
• 7:27
  you
• 7:27
  can
• 7:27
  sign
• 7:27
  up
• 7:27
  for
• 7:28
  E
• 7:28
  Services.
• 7:29
  E
• 7:29
  Services
• 7:30
  allows
• 7:30
  you
• 7:30
  to
• 7:30
  put
• 7:30
  in
• 7:31
  a
• 7:31
  match
• 7:31
  to
• 7:31
  make
• 7:31
  sure
• 7:32
  it
• 7:32
  works.
• 7:33
  A
• 7:33
  lot
• 7:33
  of
• 7:33
  1099
• 7:34
  companies
• 7:34
  do
• 7:35
  this.
• 7:35
  You
• 7:35
  can
• 7:35
  ask
• 7:36
  the
• 7:36
  contractor
• 7:37
  to
• 7:37
  confirm
• 7:37
  it
• 7:37
  or
• 7:38
  hey,
• 7:38
  hire
• 7:38
  somebody
• 7:39
  like
• 7:39
  me,
• 7:39
  work
• 7:39
  with
• 7:39
  an
• 7:40
  accountant.
• 7:41
  You
• 7:41
  can't
• 7:41
  just
• 7:41
  have
• 7:42
  hope
• 7:42
  that
• 7:42
  it
• 7:42
  works,
• 7:42
  right?
• 7:43
  You
• 7:43
  got
• 7:43
  to
• 7:43
  verify.
• 7:44
  You
• 7:44
  got
• 7:44
  to
• 7:44
  ask
• 7:45
  and
• 7:45
  document.
• 7:47
  Now
• 7:47
  you
• 7:47
  go
• 7:47
  do
• 7:48
  all
• 7:48
  those
• 7:48
  things
• 7:48
  and
• 7:49
  you
• 7:49
  might
• 7:49
  still
• 7:49
  get
• 7:49
  a
• 7:50
  letter
• 7:50
  from
• 7:50
  the
• 7:50
  irs.
• 7:52
  There's
• 7:52
  a
• 7:52
  mismatch.
• 7:53
  Filing
• 7:54
  it
• 7:54
  wrong
• 7:54
  doesn't
• 7:54
  mean
• 7:55
  immediate
• 7:55
  penalty.
• 7:56
  That's
• 7:56
  not
• 7:56
  how
• 7:56
  this
• 7:56
  works.
• 7:57
  A
• 7:58
  mismatch
• 7:58
  usually
• 7:59
  triggers
• 7:59
  an
• 7:59
  IRS
• 8:00
  what's
• 8:00
  called
• 8:00
  a
• 8:00
  CP
• 8:01
  2100
• 8:01
  notice.
• 8:02
  And
• 8:03
  they're
• 8:03
  just
• 8:03
  telling
• 8:03
  you,
• 8:03
  hey,
• 8:04
  there
• 8:04
  could
• 8:04
  be
• 8:04
  an
• 8:05
  issue
• 8:05
  here.
• 8:06
  They
• 8:06
  might
• 8:06
  send
• 8:06
  you
• 8:07
  another
• 8:07
  notice.
• 8:07
  They
• 8:07
  might
• 8:08
  request
• 8:08
  a
• 8:08
  corrected
• 8:09
  W9.
• 8:10
  They
• 8:10
  might
• 8:10
  even
• 8:11
  tell
• 8:11
  you,
• 8:11
  hey,
• 8:11
  this
• 8:11
  person
• 8:12
  needs
• 8:12
  to
• 8:12
  have
• 8:12
  some
• 8:13
  money
• 8:13
  withheld
• 8:13
  from
• 8:13
  their
• 8:14
  payments.
• 8:15
  But
• 8:15
  those
• 8:15
  penalties
• 8:16
  you
• 8:16
  asked
• 8:16
  about,
• 8:17
  they
• 8:17
  depend
• 8:18
  on
• 8:18
  if
• 8:18
  you're
• 8:18
  doing
• 8:19
  things
• 8:19
  in
• 8:19
  a
• 8:19
  reasonable
• 8:20
  manner,
• 8:20
  if
• 8:21
  you're
• 8:21
  putting
• 8:21
  good
• 8:21
  faith
• 8:22
  into
• 8:22
  that.
• 8:23
  That's
• 8:23
  why
• 8:23
  I've
• 8:23
  said
• 8:23
  from
• 8:24
  the
• 8:24
  beginning,
• 8:24
  documentation
• 8:25
  is
• 8:26
  your
• 8:26
  protection.
• 8:27
  So
• 8:27
  have
• 8:28
  that
• 8:28
  W9
• 8:28
  copy.
• 8:29
  If
• 8:29
  you've
• 8:30
  got
• 8:30
  any
• 8:30
  emails
• 8:31
  back
• 8:31
  and
• 8:31
  forth,
• 8:31
  prove
• 8:32
  that
• 8:32
  you
• 8:32
  filed
• 8:32
  on
• 8:32
  time
• 8:33
  and
• 8:34
  notes
• 8:34
  on
• 8:34
  any
• 8:34
  non
• 8:35
  response
• 8:35
  of
• 8:35
  this.
• 8:36
  Not
• 8:36
  trying
• 8:36
  to
• 8:36
  be
• 8:37
  perfect,
• 8:37
  you're
• 8:38
  trying
• 8:38
  to
• 8:38
  be
• 8:38
  responsible.
• 8:40
  Because
• 8:40
  you
• 8:40
  got
• 8:40
  to
• 8:40
  build
• 8:41
  a
• 8:41
  system
• 8:41
  that
• 8:41
  works
• 8:42
  when
• 8:42
  willpower
• 8:42
  won't.
• 8:43
  Now
• 8:44
  let's
• 8:44
  flip
• 8:44
  the
• 8:44
  script
• 8:44
  here
• 8:45
  because
• 8:45
  we've
• 8:45
  talked
• 8:45
  a
• 8:45
  lot
• 8:45
  about
• 8:45
  the
• 8:46
  business
• 8:46
  owner.
• 8:47
  Let's
• 8:47
  talk
• 8:47
  about
• 8:48
  you
• 8:48
  maybe
• 8:48
  being
• 8:48
  asked
• 8:49
  to
• 8:49
  fill
• 8:49
  out
• 8:49
  one
• 8:49
  of
• 8:50
  these
• 8:50
  W9
• 8:50
  forms.
• 8:51
  Again,
• 8:52
  a
• 8:52
  W9
• 8:53
  is
• 8:53
  just
• 8:53
  requesting
• 8:54
  your
• 8:54
  tax
• 8:55
  info.
• 8:55
  It
• 8:56
  wants
• 8:56
  your
• 8:56
  legal
• 8:56
  name,
• 8:57
  your
• 8:57
  address,
• 8:58
  your
• 8:58
  Social
• 8:59
  Security
• 8:59
  number.
• 8:59
  If
• 9:00
  you're
• 9:00
  a
• 9:00
  corporation
• 9:00
  or
• 9:01
  an
• 9:01
  llc,
• 9:01
  maybe
• 9:02
  you
• 9:02
  have
• 9:02
  an
• 9:02
  EIN
• 9:02
  number
• 9:03
  and
• 9:04
  a
• 9:04
  tax
• 9:04
  classification.
• 9:06
  It
• 9:06
  lets
• 9:06
  whoever's
• 9:07
  paying
• 9:07
  you
• 9:07
  report
• 9:07
  that
• 9:08
  income
• 9:08
  to
• 9:08
  the
• 9:08
  irs.
• 9:08
  That's
• 9:09
  the
• 9:09
  whole
• 9:09
  point.
• 9:10
  Here's
• 9:10
  the
• 9:10
  thing.
• 9:10
  A
• 9:11
  lot
• 9:11
  of
• 9:11
  people
• 9:11
  don't
• 9:11
  realize
• 9:12
  you
• 9:12
  don't
• 9:12
  have
• 9:12
  to
• 9:12
  be
• 9:13
  a
• 9:13
  quote
• 9:13
  business.
• 9:14
  It
• 9:15
  applies
• 9:15
  anytime
• 9:16
  you're
• 9:16
  paid
• 9:16
  as
• 9:16
  an
• 9:17
  individual,
• 9:17
  not
• 9:18
  an
• 9:18
  employee.
• 9:18
  So
• 9:18
  this
• 9:19
  isn't
• 9:19
  a
• 9:19
  W2
• 9:19
  thing.
• 9:20
  No
• 9:20
  withholding.
• 9:21
  Anytime
• 9:22
  somebody
• 9:22
  pays
• 9:23
  you
• 9:23
  that
• 9:24
  you're
• 9:24
  not
• 9:24
  an
• 9:24
  employee,
• 9:25
  things
• 9:25
  like
• 9:25
  freelance
• 9:26
  or
• 9:26
  gig
• 9:26
  work,
• 9:27
  maybe
• 9:27
  you
• 9:27
  do
• 9:27
  some
• 9:27
  consulting,
• 9:28
  maybe
• 9:29
  you're
• 9:29
  lucky
• 9:29
  enough
• 9:29
  to
• 9:30
  get
• 9:30
  some
• 9:30
  speaking
• 9:30
  fees
• 9:31
  or
• 9:31
  maybe
• 9:31
  you
• 9:32
  do
• 9:32
  some
• 9:32
  side
• 9:32
  photography
• 9:33
  or
• 9:33
  tutoring.
• 9:33
  Maybe
• 9:34
  you
• 9:34
  drive
• 9:34
  people
• 9:35
  Uber
• 9:36
  and
• 9:36
  Lyft
• 9:36
  do
• 9:37
  these.
• 9:37
  Maybe
• 9:38
  you've
• 9:38
  done
• 9:38
  some
• 9:38
  home
• 9:38
  repairs
• 9:39
  for
• 9:39
  people.
• 9:39
  And
• 9:40
  here's
• 9:40
  what
• 9:40
  a
• 9:40
  lot
• 9:40
  of
• 9:40
  people
• 9:40
  don't
• 9:41
  think
• 9:41
  about.
• 9:42
  Maybe
• 9:42
  you
• 9:42
  want
• 9:42
  a
• 9:42
  prize
• 9:43
  or
• 9:43
  you
• 9:43
  want
• 9:43
  some
• 9:43
  award
• 9:44
  money.
• 9:44
  Anytime
• 9:45
  somebody
• 9:46
  pays
• 9:46
  you
• 9:46
  more
• 9:46
  than
• 9:46
  $600
• 9:47
  in
• 9:47
  a
• 9:48
  year,
• 9:48
  the
• 9:48
  payer
• 9:49
  is
• 9:49
  required
• 9:49
  to
• 9:49
  report
• 9:50
  it
• 9:50
  via
• 9:50
  1099
• 9:51
  form.
• 9:51
  That's
• 9:52
  what
• 9:52
  they're
• 9:52
  asking
• 9:52
  for.
• 9:53
  Getting
• 9:53
  asked
• 9:54
  for
• 9:54
  one
• 9:54
  isn't
• 9:54
  some
• 9:55
  red
• 9:55
  flag,
• 9:55
  it's
• 9:56
  the
• 9:56
  payer
• 9:56
  doing
• 9:57
  their
• 9:57
  job.
• 9:58
  So
• 9:58
  if
• 9:58
  you're
• 9:59
  just
• 9:59
  an
• 9:59
  individual,
• 10:00
  if
• 10:00
  you're
• 10:00
  filling
• 10:00
  out
• 10:00
  one
• 10:00
  of
• 10:01
  these
• 10:01
  W9
• 10:01
  forms,
• 10:02
  just
• 10:02
  write
• 10:02
  your
• 10:03
  name
• 10:03
  on
• 10:03
  it.
• 10:03
  Put
• 10:04
  your
• 10:04
  home
• 10:04
  address
• 10:05
  and
• 10:05
  your
• 10:05
  Social
• 10:05
  Security
• 10:06
  number.
• 10:06
  Unless
• 10:06
  you've
• 10:07
  got
• 10:07
  that
• 10:07
  ein
• 10:07
  number,
• 10:08
  you
• 10:08
  can
• 10:08
  leave
• 10:09
  the
• 10:09
  business
• 10:09
  name
• 10:10
  and
• 10:10
  exemption
• 10:10
  lines
• 10:11
  blank.
• 10:11
  If
• 10:11
  you're
• 10:11
  not
• 10:11
  registered
• 10:12
  as
• 10:12
  a
• 10:12
  business.
• 10:12
  And
• 10:13
  then
• 10:13
  simple.
• 10:13
  Sign
• 10:13
  it,
• 10:14
  send
• 10:14
  it
• 10:14
  back,
• 10:14
  keep
• 10:15
  a
• 10:15
  copy.
• 10:16
  You're
• 10:16
  responsible
• 10:17
  for
• 10:17
  that
• 10:17
  income
• 10:18
  whether
• 10:18
  you
• 10:18
  get
• 10:18
  a
• 10:18
  1099
• 10:19
  or
• 10:19
  not.
• 10:20
  That
• 10:21
  W9
• 10:21
  doesn't
• 10:22
  mean
• 10:22
  you've
• 10:22
  become
• 10:22
  a
• 10:22
  business.
• 10:23
  It
• 10:23
  just
• 10:23
  means
• 10:24
  someone's
• 10:24
  keeping
• 10:24
  good
• 10:25
  records.
• 10:26
  I
• 10:26
  know
• 10:26
  there's
• 10:26
  a
• 10:26
  lot
• 10:26
  to
• 10:27
  cover
• 10:27
  here
• 10:27
  today,
• 10:28
  but
• 10:28
  there's
• 10:28
  also
• 10:28
  a
• 10:29
  spiritual
• 10:29
  side
• 10:30
  to
• 10:30
  this
• 10:30
  we
• 10:30
  shouldn't
• 10:30
  miss.
• 10:32
  We
• 10:32
  tend
• 10:32
  to
• 10:32
  think
• 10:32
  faithfulness
• 10:33
  shows
• 10:33
  up
• 10:33
  in
• 10:34
  big
• 10:34
  moments.
• 10:35
  Those
• 10:35
  generosity
• 10:36
  moments,
• 10:37
  those
• 10:37
  sacrifice
• 10:38
  moments,
• 10:38
  those
• 10:38
  life
• 10:39
  changing
• 10:39
  decisions.
• 10:40
  And
• 10:41
  of
• 10:41
  course
• 10:41
  those
• 10:41
  things
• 10:42
  matter.
• 10:43
  But
• 10:43
  faithfulness
• 10:44
  also
• 10:44
  shows
• 10:44
  up
• 10:45
  in
• 10:45
  those
• 10:45
  quiet
• 10:45
  details.
• 10:47
  That
• 10:47
  form
• 10:48
  you
• 10:48
  review.
• 10:49
  The
• 10:49
  contractor,
• 10:50
  you
• 10:50
  pay
• 10:50
  properly,
• 10:51
  the
• 10:51
  records
• 10:52
  that
• 10:52
  you
• 10:52
  keep,
• 10:53
  the
• 10:53
  honest
• 10:54
  questions
• 10:54
  you
• 10:54
  ask
• 10:55
  yourself
• 10:55
  when
• 10:55
  something
• 10:56
  looks
• 10:56
  off.
• 10:58
  Friend,
• 10:58
  God
• 10:58
  cares
• 10:59
  about
• 10:59
  integrity
• 10:59
  in
• 10:59
  the
• 11:00
  small
• 11:00
  things
• 11:01
  because
• 11:01
  those
• 11:02
  small
• 11:02
  things
• 11:02
  shape
• 11:03
  how
• 11:03
  we
• 11:03
  live.
• 11:04
  This
• 11:05
  isn't
• 11:05
  about
• 11:05
  fearing
• 11:06
  the
• 11:06
  irs.
• 11:07
  It's
• 11:08
  about
• 11:08
  handling
• 11:08
  responsibility
• 11:09
  with
• 11:10
  care.
• 11:11
  And
• 11:12
  if
• 11:12
  you
• 11:12
  make
• 11:12
  a
• 11:12
  mistake,
• 11:14
  that
• 11:14
  doesn't
• 11:14
  mean
• 11:14
  you're
• 11:14
  a
• 11:15
  failure.
• 11:16
  It
• 11:16
  just
• 11:16
  means
• 11:16
  you
• 11:17
  correct
• 11:17
  it,
• 11:18
  you
• 11:18
  learn
• 11:18
  from
• 11:18
  it,
• 11:19
  and
• 11:19
  you
• 11:19
  build
• 11:20
  a
• 11:20
  better
• 11:20
  process
• 11:20
  next
• 11:21
  time.
• 11:23
  Having
• 11:23
  faith
• 11:23
  doesn't
• 11:23
  move
• 11:24
  responsibility,
• 11:25
  but
• 11:25
  it
• 11:26
  does
• 11:26
  give
• 11:26
  you
• 11:26
  the
• 11:26
  courage
• 11:27
  to
• 11:27
  face
• 11:27
  it
• 11:27
  calmly.
• 11:29
  And
• 11:30
  I
• 11:30
  just
• 11:30
  want
• 11:30
  to
• 11:30
  reinforce
• 11:31
  this.
• 11:32
  You're
• 11:32
  not
• 11:32
  behind
• 11:33
  because
• 11:33
  you
• 11:33
  have
• 11:33
  questions.
• 11:34
  Having
• 11:34
  questions
• 11:35
  is
• 11:35
  great.
• 11:36
  You're
• 11:36
  actually
• 11:37
  growing
• 11:37
  because
• 11:38
  you're
• 11:38
  asking
• 11:38
  them
• 11:38
  before
• 11:39
  you
• 11:39
  file
• 11:40
  it.
• 11:40
  So
• 11:41
  here's
• 11:41
  your
• 11:41
  win
• 11:41
  for
• 11:41
  today.
• 11:42
  Go
• 11:43
  and
• 11:43
  collect
• 11:43
  those
• 11:43
  W9s
• 11:44
  so
• 11:44
  that
• 11:45
  you're
• 11:45
  ahead
• 11:45
  of
• 11:45
  the
• 11:45
  game.
• 11:45
  I
• 11:46
  have
• 11:46
  so
• 11:46
  many
• 11:46
  clients
• 11:46
  I
• 11:47
  just
• 11:47
  want
• 11:47
  to
• 11:47
  battle
• 11:48
  with
• 11:48
  every
• 11:48
  year.
• 11:48
  I
• 11:48
  was
• 11:48
  like,
• 11:48
  just
• 11:49
  get
• 11:49
  the
• 11:49
  W9s
• 11:50
  for
• 11:50
  us.
• 11:51
  A
• 11:51
  lot
• 11:51
  of
• 11:51
  business
• 11:51
  owners
• 11:52
  skip
• 11:52
  this
• 11:52
  and
• 11:52
  they
• 11:53
  scramble
• 11:53
  later.
• 11:54
  Pull
• 11:54
  out
• 11:55
  those
• 11:55
  W9s,
• 11:55
  make
• 11:56
  sure
• 11:56
  they
• 11:56
  look
• 11:56
  correct.
• 11:57
  And
• 11:57
  then
• 11:57
  if
• 11:58
  you've
• 11:58
  got
• 11:58
  any
• 11:58
  question,
• 11:58
  just
• 11:59
  send
• 11:59
  that
• 11:59
  to
• 11:59
  the
• 11:59
  contractor
• 12:00
  and
• 12:00
  say,
• 12:00
  hey,
• 12:00
  I
• 12:00
  got
• 12:01
  to
• 12:01
  understand
• 12:01
  this.
• 12:02
  And
• 12:02
  if
• 12:02
  you've
• 12:03
  got
• 12:03
  a
• 12:03
  complete
• 12:03
  one,
• 12:04
  do
• 12:04
  it
• 12:04
  in
• 12:04
  a
• 12:04
  timely
• 12:05
  fashion.
• 12:05
  Get
• 12:05
  it
• 12:06
  back
• 12:06
  to
• 12:06
  that
• 12:06
  person
• 12:06
  with
• 12:07
  all
• 12:07
  your
• 12:07
  information.
• 12:08
  That
• 12:08
  one
• 12:09
  small
• 12:09
  step
• 12:09
  can
• 12:10
  protect
• 12:10
  you
• 12:10
  later.
• 12:11
  And
• 12:11
  that's
• 12:12
  how
• 12:12
  responsibility
• 12:13
  becomes
• 12:13
  a
• 12:13
  habit.
• 12:14
  Now
• 12:15
  let's
• 12:15
  get
• 12:15
  to
• 12:15
  our
• 12:15
  Bible
• 12:15
  verse
• 12:16
  for
• 12:16
  today.
• 12:17
  And
• 12:17
  this
• 12:17
  one's
• 12:17
  all
• 12:17
  about
• 12:18
  integrity.
• 12:18
  It
• 12:18
  comes
• 12:18
  to
• 12:19
  us
• 12:19
  from
• 12:19
  Proverbs,
• 12:20
  chapter
• 12:20
  10,
• 12:20
  verse
• 12:21
  9.
• 12:22
  It
• 12:22
  says,
• 12:22
  Whoever
• 12:23
  walks
• 12:23
  in
• 12:23
  integrity
• 12:24
  walks
• 12:25
  securely,
• 12:26
  but
• 12:26
  whoever
• 12:27
  takes
• 12:27
  crooked
• 12:27
  paths
• 12:28
  will
• 12:28
  be
• 12:29
  found
• 12:29
  out.
• 12:30
  And
• 12:31
  listen,
• 12:31
  this.
• 12:31
  This
• 12:31
  verse
• 12:32
  isn't
• 12:32
  meant
• 12:32
  to
• 12:32
  scare
• 12:33
  you,
• 12:34
  but
• 12:34
  it's
• 12:34
  a
• 12:34
  reminder
• 12:35
  that
• 12:35
  integrity
• 12:36
  breeds
• 12:36
  steadiness.
• 12:38
  So
• 12:38
  in
• 12:38
  all
• 12:39
  things
• 12:39
  Tell
• 12:39
  the
• 12:39
  truth,
• 12:41
  keep
• 12:41
  those
• 12:41
  good
• 12:41
  records,
• 12:43
  ask
• 12:43
  the
• 12:43
  right
• 12:44
  questions
• 12:45
  and
• 12:45
  correct
• 12:46
  those
• 12:46
  mistakes.
• 12:47
  That's
• 12:48
  how
• 12:48
  you
• 12:48
  walk,
• 12:48
  with
• 12:48
  a
• 12:48
  steadier
• 12:49
  heart.
• 12:50
  Let's
• 12:50
  pray
• 12:50
  together
• 12:51
  right
• 12:51
  now.
• 12:51
  Lord.
• 12:52
  I
• 12:52
  want
• 12:52
  to
• 12:52
  pray
• 12:53
  for
• 12:53
  the
• 12:53
  business
• 12:53
  owner
• 12:54
  listening
• 12:54
  right
• 12:54
  now
• 12:55
  who's
• 12:55
  nervous
• 12:55
  about
• 12:55
  getting
• 12:56
  this
• 12:56
  wrong.
• 12:57
  Just
• 12:57
  give
• 12:58
  them
• 12:58
  peace
• 12:58
  as
• 12:58
  they
• 12:58
  review
• 12:59
  these
• 12:59
  forms,
• 12:59
  Lord.
• 13:00
  Give
• 13:00
  them
• 13:01
  wisdom
• 13:01
  to
• 13:01
  ask
• 13:01
  good
• 13:02
  questions
• 13:03
  and
• 13:03
  give
• 13:03
  them
• 13:03
  humility
• 13:04
  to
• 13:04
  correct
• 13:04
  what
• 13:04
  needs
• 13:05
  correcting.
• 13:06
  Remind
• 13:06
  them
• 13:07
  always
• 13:07
  that
• 13:07
  responsible
• 13:08
  stewardship
• 13:09
  isn't
• 13:09
  about
• 13:10
  protection.
• 13:11
  It's
• 13:11
  about
• 13:12
  faithfulness.
• 13:13
  And
• 13:13
  help
• 13:13
  them
• 13:14
  build
• 13:14
  those
• 13:14
  systems
• 13:15
  that
• 13:15
  bring
• 13:15
  order
• 13:15
  instead
• 13:16
  of
• 13:16
  stress.
• 13:17
  And
• 13:18
  treat
• 13:18
  contractors
• 13:19
  with
• 13:19
  honesty
• 13:20
  and
• 13:20
  integrity.
• 13:21
  And
• 13:22
  when
• 13:22
  fear
• 13:22
  speaks
• 13:23
  louder
• 13:23
  than
• 13:23
  the
• 13:23
  truth,
• 13:24
  Lord,
• 13:24
  remind
• 13:25
  that
• 13:25
  you're
• 13:25
  with
• 13:26
  them
• 13:26
  in
• 13:26
  the
• 13:26
  details,
• 13:27
  too.
• 13:28
  And
• 13:28
  we
• 13:28
  ask
• 13:29
  this
• 13:29
  in
• 13:29
  Jesus
• 13:29
  name.
• 13:30
  Amen.
• 13:32
  Friend,
• 13:32
  before
• 13:33
  you
• 13:33
  file,
• 13:33
  you've
• 13:34
  already
• 13:34
  done
• 13:34
  the
• 13:34
  hardest
• 13:35
  part.
• 13:35
  You've
• 13:36
  asked
• 13:36
  the
• 13:36
  right
• 13:36
  questions
• 13:37
  and
• 13:37
  you're
• 13:38
  learning
• 13:38
  the
• 13:38
  rules.
• 13:39
  That's
• 13:40
  the
• 13:40
  kind
• 13:40
  of
• 13:40
  business
• 13:40
  owner
• 13:41
  contactors
• 13:42
  trust
• 13:43
  and
• 13:43
  the
• 13:43
  IRS
• 13:44
  respects.
• 13:45
  So
• 13:45
  today's
• 13:45
  big
• 13:46
  takeaway
• 13:46
  is
• 13:46
  check
• 13:46
  those
• 13:47
  W9s,
• 13:48
  send
• 13:48
  messages
• 13:49
  if
• 13:49
  you
• 13:49
  don't
• 13:49
  have
• 13:49
  them.
• 13:50
  Keep
• 13:50
  copies,
• 13:51
  file
• 13:51
  on
• 13:51
  time
• 13:52
  and
• 13:52
  keep
• 13:52
  those
• 13:53
  good
• 13:53
  records.
• 13:54
  That's
• 13:55
  for
• 13:55
  your
• 13:55
  protection,
• 13:55
  not
• 13:56
  your
• 13:56
  burden.
• 13:56
  And
• 13:57
  if
• 13:57
  you've
• 13:57
  got
• 13:57
  a
• 13:57
  question,
• 13:58
  hey,
• 13:58
  it
• 13:58
  might
• 13:58
  be
• 13:58
  a
• 13:58
  business
• 13:59
  question,
• 13:59
  personal
• 14:00
  finance
• 14:00
  question.
• 14:01
  I'd
• 14:01
  love
• 14:02
  to
• 14:02
  hear
• 14:02
  from
• 14:02
  you.
• 14:03
  You
• 14:03
  can
• 14:03
  actually
• 14:03
  send
• 14:04
  me
• 14:04
  a
• 14:04
  voicemail.
• 14:05
  You
• 14:05
  can
• 14:05
  go
• 14:05
  to
• 14:05
  financiallyconfidentchristian.com/voicemail.
• 14:10
  It's
• 14:10
  super
• 14:10
  simple.
• 14:11
  We'll
• 14:11
  put
• 14:11
  a
• 14:11
  link
• 14:11
  in
• 14:11
  the
• 14:11
  show
• 14:12
  notes.
• 14:12
  Just
• 14:12
  click
• 14:12
  on
• 14:12
  that
• 14:13
  button.
• 14:13
  Record
• 14:13
  your
• 14:14
  message
• 14:14
  again.
• 14:14
  That's
• 14:15
  financially
• 14:16
  confidentchristian.com/voicemail.
• 14:19
  Well,
• 14:19
  thank
• 14:20
  you
• 14:20
  so
• 14:20
  much
• 14:20
  for
• 14:20
  joining
• 14:21
  me
• 14:21
  today.
• 14:21
  I
• 14:21
  know
• 14:21
  we
• 14:21
  got
• 14:22
  into
• 14:22
  more
• 14:22
  of
• 14:22
  a
• 14:22
  business
• 14:23
  discussion
• 14:23
  today,
• 14:23
  but
• 14:23
  there's
• 14:24
  a
• 14:24
  lot
• 14:24
  of
• 14:24
  people
• 14:25
  that
• 14:25
  are
• 14:25
  in
• 14:25
  the
• 14:26
  side
• 14:26
  hustle
• 14:26
  and
• 14:27
  the
• 14:27
  side
• 14:27
  gig
• 14:27
  businesses.
• 14:28
  And
• 14:28
  that's
• 14:28
  why
• 14:28
  I
• 14:28
  thought
• 14:28
  it'd
• 14:29
  be
• 14:29
  so
• 14:29
  easy,
• 14:29
  important
• 14:30
  for
• 14:30
  today.
• 14:31
  May
• 14:31
  God
• 14:31
  bless
• 14:31
  you
• 14:32
  and
• 14:32
  you
• 14:32
  have
• 14:33
  a
• 14:33
  great
• 14:33
  day
• 14:33
  today.