Are you handling your subcontractors the right way when you pay them? This is one area where small mistakes can turn into big problems.

Let's break down the difference between a subcontractor and an employee, and why it matters for your business. We also walk through the correct way to pay subcontractors, what information you need to collect, and why getting a W9 is not optional.

If you skip these steps, you could end up paying more in taxes or even violating the law. This is not about making things complicated. It is about protecting your business and doing things the right way from the start.

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DIVE IN DEEPER & LEARN MORE ABOUT YOUR NUMBERS

👉 Check Out the AFFORDABLE - Know Your Business Numbers Course http://KnowYourBusinessNumbersCourse.com

NEED A BOOKKEEPER?

👉 Check out BABO Bookkeeping. https://babobookkeeping.com Yep! We can help you do your bookkeeping so you can focus on growing your business!

CONTACT ME:

👉 Bookkeeping for Your Business: tammy@babobookkeeping.com

WATCH VIDEOS:

👉 Watch on the Youtube Channel - Plus EXTRA TRAININGS on there: https://www.youtube.com/@BadassBusinessOwners

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TOOLS TO HELP YOU RUN A BETTER BUSINESS

Recommended Bookkeeping:

👉 The #1 Tool You Need: Quickbooks Online - https://babolearning.com/quickbooks You must have a good, easy to use bookkeeping system. The #1 option for those needing invoicing & online payments

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Books I Recommend to Help You Take Your Business to the Next Level

👉 Profit First by Mike Michalowicz – https://amzn.to/3nBsCRC

👉 eMyth Revisited by Michael Gurber - https://amzn.to/3bMDTeR

👉 How to Grow Your Small Business: A 6-Step Plan to Help Your Business Take Off – Donald Miller - https://amzn.to/4bvCDX8

👉 Atomic Habits by James Clear - https://amzn.to/3kpXs1m

👉 Building a Storybrand by Donald Miller - https://amzn.to/3y5t0fS

👉 The ONE Thing by Gary Keller & Jay Papasan - https://amzn.to/3yciFi7

👉 The 12 Week Year - Brian Moran & Michael Lennington - https://amzn.to/3R54Smi

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👉 DISCLAIMER on Affiliate Links: I occasionally will have some affiliate links & I do earn a small commission but at no cost to you. I only recommend companies or items that I believe will save you time, money or help make your business better

👉 DISCLAIMER: I am not an attorney, CPA, insurance agent or financial advisor. My videos/podcast are for entertainment & educational purposes only and should not be construed as tax, legal, insurance or financial advice. Please seek out a qualified CPA, attorney, or specialist as needed. I'm sharing my experiences with my businesses and those I have worked for and/or helped coach.

Subcontractor Bookkeeping Mistakes That Can Cost You Money!