I am currently an owner of a US based single member LLC in Delaware which is in the startup stage. I am a US citizen, for what it matters.
Physically, I am living in Poland, which is part of the EU. My LLC requires many small web and graphic design services (template building, icon design, etc). Naturally, I would prefer to work with local (to me) contractors in Poland. They are physically close, and less expensive.
What do I need to do in order to be able to properly account for these services? I will most likely be paying cash, in local currency (PLN) as SWIFT transfers for such relatively small amounts of money will be expensive.
I can have them sign a contract, if necessary for documentation. However, if not needed, I would prefer to avoid any unnecessary paperwork.
Do I need to keep a petty cash account in PLN? Or do I expense it out of a USD petty cash account at the day's avg. forex rate?
They will not provide me with W-9's as they are not US persons. Do I need to issue 1099-MISC's to them? If not, do I need to report to the IRS these payments for services in some other way?
Any other considerations?