How to p

[Rao V.]

Hi,

I completed my first flip and made some money. I am happy it all worked out well. Now I want to know what paper work do I need from contractor before I pay him the remaining amount. So far I have paid him in checks or some material from home depot.

Is it enough to write down all payments/material provided to the contractor and have him sign and acknowledge that all this is received? I just want to make sure he does not come back and claim that he never received those material. should I ask him sign individual home depot receipts?

He is a licensed GC and contract was with his business. Do I need an invoice from him or 1099?

Thanks

[Darlena Jones]

Invoice , signed W9, and a signed lien waiver.  Your accountant will send the 1099 based on the W9.