Paying Contractors and Keeping Good Records

I have contractors to pay. My wife and I decided to remodel the inside and outside of our home. We could not find one contractor to do all of the work. We are not getting any younger, so we decided to get one of the walk-in tubs as part of the renovations. Those things are pricey, but they are so nice to have. I have taken showers exclusively for most of my years. However, I am liking the new tub. I was relaxing in it last night thinking of how to find a pay stub template for all of these contractors. I have to make sure they get the right forms along with their checks. Not all of them are in business. For example, I hired a local guy to do clean up. He has a day job, but was earning extra money as a sub-contractor cleaning up behind all of the other workers here. He does a great job, but he has now earned more than $600 from us, so we have to make sure he gets a 1099-MISC form from us at the beginning of next year.

I needed to keep track of names, addresses and Social Security numbers of workers who were getting paid as subcontractors by us as well as how much we were writing checks to established businesses. The guy who ran our Ethernet and other cables to the rooms is an IT guy from work. He is the best at it, and he worked as a subcontractor too. He earned a lot more then $600 from us. I found a pay stub template online that I was able to use for all of the contractors we had hired. We now have a big file folder filled with information on each worker and company that was involved in our remodeling project. It reads like the end credits of a major movie. It takes a lot of people to renovate a big old farmhouse bringing it up to code and establishing it firmly in this century’s technology.