Help on form w-9

> It essentially requires that I give them my social security number.
>
> I don't want to do this.

It boils down to either you SSN or Federal EIN. You've got to give them one or the other to complete the W-9.

I guess you could refuse. But the fees paid to you for professional services are being reported as an expense by the requestor of the W-9. Take it from the voice of experience, it is a lot easier to fill it out than to have an IRS parasite infestation up your backside for a number of years...

I fill out several per year and have no problems. All the W9 does is give them (client) a paper trail of how much they paid you. If you report the money, then you do not even need one. If you don't report it, they are covered and you may potentially have future issues. dunno

When in doubt form yourself a LLC and use your Fed ID number only. Forming an LLC takes about 3 forms to fill out and around $200 and a couple hours, depending on your state.

Just do it and best of luck. 😉

Thanks

Thanks Guys

Thanks

A sole proprietor has the option to either submit SS# or EIN. I submit many W-9s every year with EIN, I get an accountant every once and a while that insists that I give my SS# because the IRS prefers it. I simply point them to the instructions on W-9 which clearly says either. I never give SS# to someone on W-9. Why risk the exposure? As far as I know they can’t do much to my personal life with an EIN.

I just looked up the criteria for my taxes.

Payments to corporations for services are usually exempt from the 1099-Misc, but the law specifically excludes payments to lawyers (I wonder why), fish sellers and a couple of others that I can't remember. An LLC (Limited Liability Company) may or may not be a corporation so being an LLC may not exempt your clients from having to provide a 1099-Misc to you.

If you are a sole proprietorship, the IRS prefers the SSN. If you have a TIN and don't want to hand out the SSN, use the TIN and make sure it gets inserted on your 1040 Schedule C.

I have a TIN from when I had employees. I use than number on all requests for W9 forms. I am a sole proprietor.

My LLC is taxed under sole proprietor rules, and not 941 forms etc. With no employees it makes it much simpler that way. Get employees and then you run into many more hurdles, including workers comp, unemployment taxes, with holding and deposits (940 or 941, I forget), and lots of other junk mail people send you.

I fill out 1040, Schedules A, B, and C and my super duper tax lady fills in the blanks. I do file my 1040-ES forms quarterly with whatever I want to pay, and that keeps me on track. I think??? :-S

First of all, its your client that needs to fill out the w9 and send it to you, then you put it in the package for your accountant.

I am a Sole Proprietor and have a EIN, but my accountant (superman) has always told me to give my SS No. Since the Universe Overlords prefer this.

Its not a big deal and is actually a very good thing if all clients would do this.

Randy

Not quite

The person requesting your EIN or TIN is responsible for sending you a W-9 (or equivalent).

Then it is your responsibility to fill out the W-9 and return it.

Then it's the payer's duty to fill out a 1099.

Then you make use of the 1099 - maybe by giving it to your accountant.

Not quite

My experience is that the payer requests a W9 form and you send it to them filled out. Some are nice and send you a copy of the form, assuming that no one else has paid you the non-exempt $600.

I don't fill out a new W9 for each client. I just filled out the one I got on-line from the IRS (google Form W9), signed it, scanned it into a pdf file, then send that out by email, fax, or snail mail to any client who requests it. No one has complained yet that the signature is not "wet".