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Consulting/Honoraria/Guest Speaker Fees Service income, classified as independent contractor An honorarium is a voluntary payment, or something in value, given to a person in recognition of a special or distinguished service in an academic activity (e.g. a guest lecture, serving on a panel discussion) for which no fixed fee is set. An honorarium payment is made as a gesture to…

VPF’s Accounts Payable and Financial Systems teams recently implemented changes to the process for requesting a new supplier, which are designed to streamline the process and enable the supplier to submit information and tax forms directly into Buy-to-Pay (B2P) Coupa Supplier Portal. This change makes it easy for community members…

VPF is launching a new module within Buy-to-Pay (B2P) called Supplier Information Management (SIM). The new module provides suppliers who work with MIT’s DLCs the opportunity to update their own information, including payment preferences, mandatory tax information, and their status as a small, diverse, or sustainable business. The improvements to…

In response to community feedback, VPF has updated the registration process for new suppliers and independent contractors. The updates are designed to expedite the process while ensuring MIT’s compliance with federal and state regulations. Fewer documents to submit: Independent contractors are no longer required to submit a resume and a…

Endicott House, an event and conference space on 25 acres of land designed by the famous landscape architecture firm of Frederick Law Olmsted, is an internal vendor open to the MIT community. The property, which is located in Dedham, Massachusetts, offers a full range of services and facilities that cater…

Review this chart to consider tax implications when adding a new supplier of goods or services.

The Strategic Sourcing team at VPF is pleased to introduce three new suppliers offering translation and interpreting services, including American Sign Language (ASL). Read more.

Strategic Sourcing team at VPF is pleased to introduce three new suppliers offering translation and interpreting services, including American Sign Language (ASL). Read more.

VPF Strategic Sourcing has added Journeyman Press and Highland Services, LLC as new Preferred Suppliers * for printing services. Journeyman Press, a small business located in Newburyport, offers a full range of printing services—including offset and digital printing, with complete in-house bindery and finishing services and complete mailing and fulfillment…

VPF Strategic Sourcing has added ProShred Security to the roster of Preferred Suppliers providing paper shredding services and hard drive destruction services. ProShred offers on-site shredding and containers for off-site shredding that can be picked up from offices regularly. Once shredded, ProShred recycles all destroyed materials. You can find more…