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w9 forms. Please help!
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The Name     Reply with quote
I am filling out a w9 tax form for a job and l do not know what l should mark for my filing status.
There are Individual/Sole proprietor.
Corporation.
Partnership.
Limited liability Corporation.
And Other.
Which one do l mark?
And what does Exempt payee mean?
hehe     Reply with quote
l do not think you should be filling out a W9.
Dudley     Reply with quote
l think the first question u should ask is why r u filling out a W-9. A w-9 is a form that requests tax payer information & usually results in the receipt of a 1099, which is usually for self employment income. If that is that case then u r likely a sole proprietor. When it comes to filing ur taxes, u will need to file a scedule c, in order to report ur income.

If u think that u got a job, as in hired as an employee, then u should be completing a w-4 form.
Couture     Reply with quote
If you actually meet the independent contractor designation (unlikely), you would put sold proprietor. (It is just you.)

You would also check 'exempt payee' unless you know that you are already in trouble with the IRS with under paid taxes.
Coach     Reply with quote
Are you an employee or
Are you a contractor and not an employee?
Employee-file W-4
Subcontractor W-9
Both forms are for taxpayer identification numbers
Kim     Reply with quote
You may be independent contractor (sole proprietor).

Select ''exempt payee' unless IRS has informed you that your income is subject to backup withholding.
Lostyo     Reply with quote
Individual, unless you are one of the others. And exempt payee means that you have not been notified by the IRS that the payer has to withhold backup withholding - that is probably what you check - it does not mean that you wo not owe tax on your earnings.
Bobyer     Reply with quote
You check the one that is correct. If you are a corporation or LLC, etc., you check those boxes. If you are a proprietorship or individual then you check that box. If you are exempt then that means that no taxes will be withheld from your money. If you do not check exempt they may deduct a percentage of your earnings for taxes. l believe it is 20%. You can go online to the IRS website and read the form and requirements. l believe the website is irs.gov/formspubs
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