In Liquid, you can download your Vendors’ 1099 and Vendors’ W9 data in just a few steps. during your freelancer and vendor onboarding process). It also means that you can download your vendors’ W-9 forms and vendors’ 1099 data in just a few steps Vendor 1099 data is selecting the Reports tab from the left menu options. These options vary depending on whether you are a hirer, vendor, or both.

freelancers with your existing contracts that have been signed outside of Liquid, you’ll invite your Vendors That will prompt you to upload a copy of your signed contract, which your vendors will be presented with will then set up your custom contracts to be available as custom Onboarding processes available for Vendor You then select the appropriate custom process during each Vendor invite. Ready to use the fastest and most compliant way to contract and pay your freelancers and vendors? 

data, and Vendor W9 data. What is a Vendor on Liquid? Vendors can also use Liquid to manage and share files and URLs that are related to Projects — some Vendors What if I am both a Client and Vendor? In the Vendor account, you will be restricted to doing Vendor activities (receiving payments).

Inviting your Vendor Here’s how to invite Vendors to Liquid. Start by logging into Liquid. If you have not invited any Vendors, the Add Vendor form will automatically pop up. If you have already invited a Vendor, you’ll add a new vendor by pressing the + Vendor button to open the Add Vendor form. Finally, you’ll press Send to invite the Vendor. You’ll then be prompted to invite another Vendor.

These sent timestamps will state who sent the deliverable (the name of the person at the Client or Vendor accepted timestamps will state who accepted the deliverable (the name of the person at the Client or Vendor

Here’s how to navigate the Invoices section as a Vendor (if you need help navigating the Invoices section than what your Client has set, please message them and ask them to update the Payment Terms on your Vendor

Make sure all executives and leaders are aware of all consultants, freelancers, and vendors that all #vendorrecruitment

Paying Freelancers and Vendors? Managing Freelancers and Vendors? customers report saving 20 hours per month (on average) when they use Liquid’s complete contractor and vendor #vendorrecruitment

Firing Your company’s relationship with a freelancer or independent contractor is like that with your vendors #vendoradmin

costs, save time, and mitigate compliance risks when managing freelancers, independent contractors, and vendors #vendorrecruitment

Learn what programs can help freelancers and independent contractors impacted by COVID-19 – including support from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. As a result of federal and state government actions, there are a number of different programs to assist freelancers and gig workers who have been financially impacted by the COVID-19 pandemic. These include benefits from the Coronavirus Aid, Relief, and Economic Security (CARES) Act as well as other resources. Tax Payment Extensions The US Treasury Department and IRS have extended the deadline for filing 2019 taxes until July 15, 2020, without penalties or interest. Additionally, the first quarterly payment for 2020 has been extended from April 15 to July 15, 2020. Further extensions for filing federal taxes can be applied for using Form 4868 for individuals and Form 7004 for businesses. For state taxes, tax deadline extensions vary by state so make sure to check with your state’s tax agency for details. CARES Act and Benefits for Freelancers The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a number of programs and benefits for businesses and individuals – including self-employed individuals (freelancers, independent contractors, gig workers, etc.). Economic Impact Payments Individuals are eligible to receive a direct cash payment from the US federal government of up to $1,200 for each adult and $500 per child (if under the income limit of $75,000). The payment does vary depending on income and starts to phase out from $75,000 to $99,000 (or $150,000 to $198,000 for couples filing jointly) using adjusted gross income (AGI) from either your 2019 tax return or 2018 tax return (if 2019 not available). For those individuals without federal tax liability, the payment will be $600. Note that the payment will be reconciled after 2020 tax returns are filed. Depending on your 2020 earnings, you may be required to pay back some of the relief payment or will receive a bigger rebate next year. Additional information can be found in the IRS Economic Impact Payment FAQs. Economic Injury Disaster Loan (EIDL) A key financial support option for small businesses (including sole proprietorships) is the Economic Injury Disaster Loan (EIDL). The EIDL program includes an emergency advance option, which provides up to $10,000 in emergency relief. This advance is effectively a grant as it does not have to be repaid. For more information on EIDL, see our post on the CARES Act and financial support for businesses. Applications for EIDL can be made through the Small Business Administration (SBA). Paycheck Protection Program (PPP) The Paycheck Protection Program (PPP) enables eligible entities to apply for a loan through approved Small Business Administration (SBA) lenders. Sole proprietorships can apply starting on April 3, 2020, while independent contractors and self-employed individuals can apply starting on April 10, 2020. The PPP loans can be used to cover payroll and other certain business expenses (interest on mortgage obligations incurred before February 15, 2020; rent under lease agreements in force before February 15, 2020; and utilities for services in place prior to February 15, 2020). Applications can be submitted until June 30, 2020. PPP loans can be eligible to be forgiven if payroll expenses are kept consistent with the salary paid and the number of employees paid before the COVID-19 pandemic for eight weeks (at least 75% of the PP loan must be used for payroll to be for loan forgiveness eligibility). For more information, consult the Treasury Department’s PPP fact sheet. Note: You cannot receive unemployment benefits and a PPP loan at the same time. Tax Relief The CARES Act includes several tax relief options for businesses (including sole proprietorships) to receive tax relief: payroll tax credits and deferrals, credits for COVID-19 related paid leave, and loosening requirements and limitations introduced with the 2017 Tax Cuts and Jobs Act (TCJA). Per the latest guidance from the IRS, eligible self-employed individuals can claim an income tax credit equal to their “qualified sick leave amount” or “qualified family leave amount” to offset their federal self-employment tax. Qualified Sick Leave to Offset Federal Self-Employment Tax To meet the requirements for qualified sick leave, the self-employed individual must be unable to work because he/she is subject to a federal/state/local quarantine or isolation order related to COVID-19, has been advised to self-quarantine by a healthcare provider due to concerns related to COVID-19 or is experiencing symptoms of COVID-19 and seeking a medical diagnosis. Ten days is the maximum number of days for determining the qualified sick leave equivalent. The sick leave equivalent is calculated by multiplying the number of days (in the taxable year) by the lesser of $511 or 100% of the average daily self-employment income of the individual for the taxable year. Qualified Family Leave to Offset Federal Self-Employment Tax Qualified family leave applies if the self-employed individual is caring for an individual who is subject to a federal/state/local quarantine or isolation order related to COVID-19 or has been advised to self-quarantine by a healthcare provider due to concerns related to COVID-19, or is caring for a child if the child’s school or place of care has been closed. 50 days is the maximum number of days for determining the qualified sick leave equivalent. The family leave equivalent is calculated by multiplying the number of days (in the taxable year) by the lesser of $200 or 67% of the average daily self-employment income of the individual for the taxable year. In both cases, the days in question must be in the period starting April 1, 2020, and ending December 31, 2020. For additional information, consult the IRS FAQs. Unemployment Insurance For the first time, freelancers, independent contractors, self-employed individuals, and gig workers are eligible to apply for unemployment insurance as a result of the CARES Act. Guidance from the US Department of Labor to states specifies that those who are unemployed, partially unemployed, or unable or unavailable to work due to COVID-19 related reasons are eligible for Pandemic Unemployment Assistance (PUA). Individuals will be paid an additional $600 per week (through July 31, 2020) in addition to the standard unemployment benefit for their states. For those that remain unemployed, a 13-week extension of benefits is offered (beyond each state’s benefits duration) through December 31, 2020. When applying for unemployment insurance, freelancers will likely need to provide evidence of past income, for example by providing the prior year 1099 tax form. Check your state’s requirements. Consult the Department of Labor for additional information on Unemployment Insurance Relief. Other Resources A variety of other assistance programs, grants, and other resources are available depending on your location. The Gig Worker’s Collective has compiled an extensive list of COVID-19 resources by state. As news about the implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act comes out, we will continue to provide updates on this blog post and additional blog posts. Preview our latest Liquid Briefing: CARES Act Financial Support. View Liquid Briefing Ready to simplify onboarding, managing, and paying your clients? Sign-up for Liquid beta today!

Liquid — a platform for contracts, projects, and payments to independent contractors, freelancers, vendors Creating your Vendor account in Liquid Start by clicking the Accept Invite button in Liquid’s email that Starting your Client’s onboarding process in Liquid Once you have finished creating your Vendor account Then, you will be prompted to confirm which business will be the official vendor for your Client. Liquid simplifies this process by helping Clients and Vendors complete this process online, allowing

Learn what an EIN is, how it differs from an SSN, and why you should care if your freelancers have EINs. A federal Employer Identification Number, nicknamed an EIN or FEIN, is a unique nine-digit number that the IRS issues and uses to identify your business. This EIN is the number your business uses when you file and pay business taxes — think of it as your company’s social security number. Social security numbers and EINs are the FTIN (federal tax identification number) or taxpayer identification number for individuals and business entities, respectively. Who needs an Employer Identification Number (EIN)? You must get an EIN if any of the following are true: Your business has employees other than you. Single-member LLCs are also required to obtain an EIN if it’s going to hire employees. Your business is a corporation (C corporation or an S corporation) or a partnership (both general and limited partnerships). Your business offers a Keogh pension plan. Your business withholds taxes on income, other than wages, paid to a non-resident alien. Your business is involved with the administration of any of the following: trusts (except certain grantor-owned revocable trusts, IRAs, and exempt organization businesses), income tax returns, estates, real estate mortgage investment conduits, non-profit organizations, farmers’ cooperatives, or plan administrators. A business structured as a sole proprietorship with no employees is the only kind of business that isn’t required to have an EIN. But even sole proprietors sometimes choose to get EINs to keep their social security numbers private (particularly when they work with many different clients). Check out our post on business structures to learn a little more. Why should I care if my freelancers use an EIN versus a SSN? When your freelancers use an EIN on their Form 1099, it reinforces their classification as an independent contractor versus someone you should be hiring as a W2 employee. Proper classification ensures you stay compliant. How do you get an Employer Identification Number (EIN)? It’s free and easy to get an EIN. Here are three quick ways to do it yourself: Apply Online. Apply by Mail or Fax. Apply by Phone. Liquid encourages independent contractors to use an EIN (versus SSN), reinforcing proper classification of freelancers to ensure you stay compliant. Ready to get started? Try Liquid today! #taxcompliance

Vendors section in Liquid To navigate to the Vendors section, select Vendors from the left navigation Adding Vendors in Liquid Add a new vendor by pressing the + Vendor button to open the Add Vendor form Detailed Vendor View (the “back” of the Vendor card) When you press any Vendor card in grid view (or At the top of each Vendor card, you will see the name of the Vendor. You can also send the Vendor a new invite by pressing the + Vendor button from the Vendors page (not

#SOW #vendoradmin

Ready to simplify managing your independent contractors, freelancers, and vendors?  #legal #vendoradmin

Learn what you should include in every freelancer, contractor, and vendor invoice plus how to simplify For freelancers, contractors, and vendors, creating and managing invoices can be very cumbersome and need to include on every invoice, whether you are a freelancer, contractor, independent consultant, or vendor Project Line Item Descriptions and Total Due A common mistake made by freelancers, contractors, and vendors If you are using an online vendor invoicing system like Liquid for freelance invoicing, invoices have

blended teams: a core full-time team supplemented with a bench of global contractors, freelancers, and vendors small- to medium-sized businesses and agencies who hire domestic and international contractors and vendors Or maybe it's the vendor tools that simplify invoice generation and help them track payments among all Contractors and vendors are never charged any fees to send invoices or receive payments. With Liquid, all your vendor and client tools are in one place.

Ready to simplify managing your independent contractors, freelancers, and vendors?  #financialcontrols #vendoradmin

#benchmanagement #vendoradmin