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W9 Tax Form - How to fill out a Form W9, Tax Form W-9 and the 1099. Form W9 - W-9 Tax Form Explained 

Katie St Ores CFP, ChFC, EA
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W9 Tax Form - How to fill out a Form W9. Tax Form W-9 and the 1099. Form W9 - W-9 Tax Form Step by Step.
W9 - How to fill out a W9 and get 1099 for independent contractor, self employed, freelancer, and an LLC.
Form W-9, Request for Taxpayer Identification Number and Certification
IRS Form W-9 www.irs.gov/pub/irs-pdf/fw9.pdf
About Form W-9, Request for Taxpayer Identification Number and Certification:
www.irs.gov/forms-pubs/about-...
W-9s and 1099s are tax forms that are required when you work with an independent contractor, freelancer, self-employed. Form W-9 is completed by the independent contractor and provides details on who they are. Form 1099 is completed by the employer and details the wages being paid to the contractor.
Tax preparation near me TaxesbyKatie.com
W9 video log:
00:20 Where to find IRS Form W-9
00:31 Google W9
00:37 Form W9 - Internal Revenue Service
01:17 Why is a W-9 needed.
01:38 W9 and the 1099
01:43 W9, 1099, tax return
02:22 Send w-9 to requester
02:44 Do not send W-9 to the IRS
02:54 Sole-proprietor and the W9
03:20 Check Individual/sole proprietor or single-member LLC
03:47 Address where to send your 1099
04:28 Taxpayer ID number on the W9
04:56 W-9 for a Single member LLC
05:08 What is a Disregarded Entity?
06:07 Single Member LLC and SS#
06:27 Partnership, two member LLc
06:58 S-corp, C-corporation
07:10 Directions and instructions for W9
W-9 answers to questions in video.
What is a Form W9? W-9 and the 1099. What is a W9 Requestor? Who needs a W9 form and the 1099? What is the W9 form used for? How to fill out a W9 tax form. If you're a LLC, freelancer, small business, LLC, independent contractor, C- corporation, S-Corporation, nonprofit, pole proprietor, gig worker(uber, lyft, etc) then the video will help you.
Step by step of how to complete W-9 form.
Katie St Ores talks about IRS Tax Form W9.
For those searching for:
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Please understand that these videos are for EDUCATIONAL purposes only and are very general.. All people and their financial situations are different. So it is important to consult your own financial professional.
_________________________________________________
W9, Form W-9 Katie St Ores CFP®, ChFC®, EA, LTC
Serving all States
Virtual Office or Physical Office
• County Investment Advisory Committee
• 97 Hours of Continuing Education each year to maintain Professional designations
• CFP® - Certified Financial Planner
• ChFC® - Chartered Financial Consultant
• EA - Enrolled Agent - Empowered by the U.S. Dept of the Treasury
• Licensed Tax Consultant -Licensed by the State of Oregon
• Medicare advisor, Medicare Advantage agent
• Registered Investment Adviser- Oregon Div. of Financial Regulation
• Tax Accountant - Markusen & Schwing CPA's
• Certified Investment Management Analyst program -Wharton - University of Pennsylvania
• Certified Mergers & Acquisition Advisor program - Loyola University
• Certificate in Accounting - UC Berkeley
• RU-vid - Educational Channel-Finance, Investment, Taxes
• Financial Advisor, Tax Consultant - St Ores Wealth Management
Katie St Ores
Katie St Ores CFP®, ChFC®, EA, LTC
St Ores Wealth Management llc
www.SaintOres.com
2022 Women’s Initiative (WIN) CFP® Board
2022 Financial Women to Watch on RU-vid
Medicare Health Plans Oregon:
Yamhill Washington Polk Marion Baker Benton Clackamas Clatsop Columbia Coos Crook Curry Deschutes Douglas Gilliam Grant Harney Hood River Jackson Jefferson Josephine Klamath Lake Lane Lincoln Linn Malheur Marion Morrow Multnomah Polk Sherman Tillamook Umatilla Union Wallowa Wasco Washington Wheeler Yamhill 97101 97111 97114 97115 97127 97128 97132 97148 97378 97396
0:00 Introduction
2:51 Sole proprietor - You report your income on Schedule
3:17 Check your federal tax classification
4:30 Sole-proprietor: Enter your SS#
5:10 Business has 1 owner and 1 tax return
6:05 Enter your Social Security Number
6:31 will be treated as a partnership.
7:11 Try reading the instructions.

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24 июл 2024

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Комментарии : 433   
@agustinsandoval4750
@agustinsandoval4750 2 года назад
Thank you!! This is the stuff they need to teach in schools!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:14am PST] @SaintOres.com Thanks Agustin, I agree, but you don't learn it until you get out into the real world. And it can be an expensive lesson.
@gigtaxservices
@gigtaxservices Год назад
@@KatieStOresCFPChFCEA How about Cannabis.. As an employee how do the file?
@brisaserna8848
@brisaserna8848 Год назад
they do. Financial Algebra
@markchayer325
@markchayer325 Год назад
@@KatieStOresCFPChFCEA hey Katie I have a question? So if I put in my bank account number and routing number, would this be optional or how would I get paid. Would it be sent by a paycheck. No idea
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
@@markchayer325 Hello Mark, There is no bank or routing number on a W-9. A W9 form is a tax document used to provide a taxpayer identification number (TIN) to someone who is required to file an information return with the IRS. The form is used by individuals and businesses to provide their TIN to payers or brokers who are required to file information returns with the IRS.
@wollywop2278
@wollywop2278 3 месяца назад
This lady will never know how grateful I am for her videos. I forget all about this channel until I need it and it never fails to give me concise How To Do’s. All I can do it send her a tip$ 🙏
@pattiobrien-richardson1881
@pattiobrien-richardson1881 3 года назад
Thank you. Great video. You go right in and start explaining. So refreshing!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Thanks Patti, Glad you enjoyed it! Nothing worse than people begging for subscriptions for the first 3 minutes of the video.
@shannonross6006
@shannonross6006 Год назад
Thanks for walking us through that, Katie. Great attention to detail and dismissing the things we don't need to stress about. Thanks!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
Thanks Shannon, Glad it was helpful! No need to stress out about a IRS form.
@BrownieJD
@BrownieJD 3 месяца назад
Thank you! No extra fluff and straight to the point. You're awesome.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 месяца назад
3:46pm PST SaintOres.com Thanks Brownie, I also don't like it when people spend two minutes at the beginning of a video talking about liking and subscribing....
@sherrybrooks7577
@sherrybrooks7577 3 года назад
I just watch your W9 filled it helped me out so much because I needed to fill one out to get Load for a customer thank you so much and I did subscribe
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Hello Sherry, Thanks for subscribing. I plan on doing as many government forms as possible.
@sherrybrooks7577
@sherrybrooks7577 3 года назад
I just watch your W9 video thank you so much it helped me out to fill out for a customer so I can be able to receive loads
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
[11:21am PST] @SaintOres.com Thanks Sherry, Glad I could help.
@PedroBlazeArt
@PedroBlazeArt 11 месяцев назад
I literally feel like I'm learning from Angela from the office. Love it!!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 11 месяцев назад
Thanks Blaze... But there's a huge difference, Angela likes cats and I prefer horses.
@fawadumarr
@fawadumarr Год назад
Love the way you explained step by step through this screen.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[11:21am PST] @SaintOres.com Thanks Fawad, I'm happy you liked it.
@SoyIsima
@SoyIsima 3 года назад
Thank you! it is the first time I will have to file taxes in this country and this info is wonderful! thank you very much!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
[11:53am PST] @TaxesbyKatie.com De nada Isima, Congratulations. In a way, I love paying my taxes. It makes me feel like I am contributing and involved.
@SoyIsima
@SoyIsima 3 года назад
@@KatieStOresCFPChFCEA Right! same here! keep it up doing educational video who all of us who want to contribute to this amazing country!
@anthonydailey5918
@anthonydailey5918 11 месяцев назад
Thank you very much this video not only helpful but as straight to the point. Great work!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 11 месяцев назад
[9:12am PST] @SaintOres.com Thanks Anthony, I'm glad it was helpful.
@lyetaherb4703
@lyetaherb4703 2 года назад
Thank You So Much! You helped me finally exhale after a week of questioning with no defined answers. TWO THUMBS UP! :0) 100% EXCELLENTE"
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[2:34pm PST] @TaxesbyKatie.com Thanks Lyeta, That was my first "Excellente"
@lyetaherb4703
@lyetaherb4703 2 года назад
😉👍🏾IT'S A STRAIGHT FACT👉🏾👉🏾👉🏾100%*****
@SVZ11
@SVZ11 6 месяцев назад
Thanks a lot of the info, i did read the W9 but its so much better when someone walks you through it lol
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 6 месяцев назад
Thanks Kenpachi, I agree, who wants to spend a bunch of time reading IRS directions.
@Guardangel25
@Guardangel25 10 месяцев назад
OMG. I hope i dont sound childish but i need things explained with why and why not. YOU ARE THE BEST
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 10 месяцев назад
Thanks Guardian, I do my best to explain things as well as I can. Appreciate the nice comment.
@andygodinez8237
@andygodinez8237 3 года назад
Awesome vid. Thank you! Very easy and simplified. Thank you
@jamescabrera3655
@jamescabrera3655 Год назад
Thank Katie for the video - very helpful and much appreciated!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[09:44am PST] @SaintOres.com Thanks James, Glad it was helpful!
@jjokur
@jjokur 3 года назад
Fantastic Video and very informative. Thank you for this, Katie.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Thanks Jude.... I just saw your comment.
@kasiwilliams5927
@kasiwilliams5927 Год назад
Thank you great explanation especially knowing when to use between the EIN and SS.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[8:55am PST] @SaintOres.com Thanks Kasi, Glad it was helpful!
@henrysalazar7612
@henrysalazar7612 2 года назад
Katie, I greatly appreciate your video, god blessed you…
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:31am PST] @SaintOres.com Thanks Henry, Glad it was helpful!
@humanity4281
@humanity4281 Год назад
‌Thank you ma'am I follow you from Afghanistan and I was able to fill this form according to your instructions ❤️❤️
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
Hello to Afghanistan, I'm glad the video was helpful.
@Rationalific
@Rationalific Год назад
Awesome! This is just what I was looking for!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[10:44am PST] @SaintOres.com Thanks Rationalific, Glad I could help!
@juliolopez4799
@juliolopez4799 2 года назад
This is a great video, very thorough instructions on how to fill out form.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[2:57pm PST] @SaintOres.com Thanks Julio, I don't get too many "great video" comments. I appreciate it.
@VirtualZeeshan
@VirtualZeeshan 3 месяца назад
Thank you, ma'am. Your explanation was very helpful. Thumbs up for your pretty good explanation!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 месяца назад
9:56am PST SaintOres.com Thanks Zeeshan, I appreciate the nice comment. Glad it was helpful!
@elizabeth833
@elizabeth833 5 месяцев назад
Thank you so much!!! Took some stress off of my shoulders! 🙏
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 5 месяцев назад
Thanks Elizabeth, You're so welcome! Taxes and stress relief will be on my next business card.
@XxUliboneZxX
@XxUliboneZxX 2 года назад
Extremely helpful and informative. THANK YOU!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:51am PST] @TaxesbyKatie.com Thanks King, Glad it was helpful!
@gigtaxservices
@gigtaxservices Год назад
You are awesome. "Let get going". I love it. Please do more
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[11:02am PST] @SaintOres.com Thanks Kimberly, I plan to do as many as I can. Great thing about the IRS, they have lots of forms.
@drscrezhack8641
@drscrezhack8641 2 года назад
Excellent job explaining the details!! ❤️👌🏽🥇
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:49am PST] @SaintOres.com Thanks Doc, I'm glad it was helpful.
@rebecagg5086
@rebecagg5086 3 года назад
hello katie excellent videos even though i don't speak much english i managed to understand make videos with spanish subtitles you will win more success thanks
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Thanks Rebeca, De nada.
@sheilajackson6758
@sheilajackson6758 2 года назад
Thank you for this video! It helped me fill out the form.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[5:28pm PST] @TaxesbyKatie.com Thanks Sheila, Glad it helped!
@jessicabarrera7035
@jessicabarrera7035 2 года назад
Thank you so much. You explain every detail on this video.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:54am PST] @SaintOres.com Thanks Jessica, Glad it was helpful!
@esthert743
@esthert743 3 года назад
This was GREAT and simple. Thank you :)
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
[9:32am PST] @SaintOres.com Thanks Esther, You're very welcome!
@vanetahowitt8468
@vanetahowitt8468 Год назад
Thank you so much , I love your video and explanation I understand everything.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[3:01pm PST] @SaintOres.com Thanks Veneta, I appreciate the kind comment and I'm glad you 'LOVED' the video....
@vivtalks1471
@vivtalks1471 4 месяца назад
Nice and easy to understand and you got to the point!!! You are amazing
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 4 месяца назад
Thanks Viv. I hate it when I have to listen to "like, subscribe, and comment" for two minutes before the video.
@vivtalks1471
@vivtalks1471 4 месяца назад
@@KatieStOresCFPChFCEA you are awesome !!!! & me too 😂
@ScalelordTerraria
@ScalelordTerraria 11 месяцев назад
Thank you very much this was really helpful. Need to fill out a w9 for My Merch Store, and wasn't sure what to fill out for line 2! Thanks so much :)
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 11 месяцев назад
[11:06am PST] @SaintOres.com Hello Scalelord, Glad it was helpful! And good luck with the Merch...
@hen1588
@hen1588 2 года назад
Thank you very much, the video was very informative and concise.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[9:52am PST] @SaintOres.com Thanks Hen, Glad it was helpful!
@makihernandez8764
@makihernandez8764 2 года назад
Thank you for helpful and greatly explained video 🙏🏽
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[3:48pm PST] @SaintOres.com Thanks Maki, Glad it was helpful!
@Naesman1167
@Naesman1167 2 года назад
Thanks Katie. Awesome!!!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:21am PST] @SaintOres.com Thanks Jazz, I appreciate the "Awesome"
@arturodoesitall808
@arturodoesitall808 Год назад
Great video. Thanks for all the detailed information.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[11:11am PST] @SaintOres.com Thanks... And I love your featured page at your RU-vid channel: 'arturo does it all' Here's the link: ru-vid.com/show-UCX3g5JIpeZb4b_pI6zFGiFQfeatured. Never seen anyone eat a burger on their featured page before.
@adamev1104
@adamev1104 3 года назад
Thanks for the videos and the information ..💐
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
You're welcome Adam.
@serenitymusic2189
@serenitymusic2189 2 года назад
Excellent video with no distracting music! Thank you!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:11am PST] @SaintOres.com Thanks Serenity, Glad you liked it...
@scarletp6971
@scarletp6971 2 года назад
The way you explain every single step and with details is just AWESOME. I love to watch your videos and learn from them. You make me grow an interest for taxes and accounting. Thank you so much for taking the time to create these very educational videos.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:33am PST] @SaintOres.com Thanks Scarlet, that's one of the nicest comments I've ever received. Makes me want to film another tax video this afternoon. (fyi - I hate being on film....) thanks again.
@scarletp6971
@scarletp6971 2 года назад
@@KatieStOresCFPChFCEA you're very welcome. I can't tell you don't like to be film 😉. I'll keep watching them for sure.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[4:25pm PST] @SaintOres.com Thanks... And if you ever have any ideas for videos you'd like to see, let me know. I'll be adding small business and stock market investing to the tax stuff. I think it all kind of goes together.
@scarletp6971
@scarletp6971 2 года назад
Have you made videos about how to schedule/report payments as small business for 1099? Since we just started our business I was trying to find what should I do with independent contractors payments? Such as, wait until the end of the year to add the payments for every single independent contractor and record as a whole sum at once? Or, to record every payment during the year on my bookeeping software? Does it matter if it is recorded as a whole sum one time payment? Or, several payments as services are provided? 🙂
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[12:31pm PST] @SaintOres.com Hey Scarlet, If you paid an independent contractor $600 or more in a calendar year, you are responsible for sending the contractor a completed 1099-MISC (Copy B) by January 31 of the following calendar year. The correct way is to record every payment during the year in your bookkeeping software for each contractor.
@tc4525
@tc4525 2 года назад
This is really helpful. Thank you very much.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[4:49pm PST] @SaintOres.com Thanks TC, Glad it was helpful!
@ReviewScene
@ReviewScene 2 месяца назад
Excellent video. Thank you.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 месяца назад
Thanks for your "Excellent" comment. Glad the video was helpful!
@nakeithak2476
@nakeithak2476 Год назад
Thank you so much for this video
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[11:34am PST] @SaintOres.com Thanks NaKeitha, You are so welcome!
@mattharmstrong2519
@mattharmstrong2519 9 месяцев назад
Thank you very informational 🙌🏾
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 9 месяцев назад
Hello Matth, Your welcome and I'm glad it was helpful!
@soleburysoftware2201
@soleburysoftware2201 2 года назад
Excellent Explanation!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[3:23pm PST] @SaintOres.com Thanks Brian, Glad you think so!
@surfacegrindingmachine5894
@surfacegrindingmachine5894 2 года назад
Thank you very much for your help!!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[1:59 pm PST] @SaintOres.com Thanks tool & die guy, Glad it helped!
@Zyzlove
@Zyzlove 8 месяцев назад
Superb explanation!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 8 месяцев назад
Thanks Tenzin, for the superb comment.
@zeeshanahmed2332
@zeeshanahmed2332 Год назад
Thank you very much!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[10:30am PST] @SaintOres.com Thanks Zeeshan, You're welcome!
@faith12345y
@faith12345y Год назад
Great video.Thanks for sharing.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[3:18pm PST] @SaintOres.com Thanks Patricia, I appreciate the nice comment.
@thugganificent2094
@thugganificent2094 2 года назад
Thanks, Katie!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:11am PST] @SaintOres.com You're welcome Thugganificent.....
@jho9132
@jho9132 Год назад
i'm a photographer and companies asks for this, thanks for the tutorial :) - jho
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[10:51am PST] @SaintOres.com Thanks Jho, Glad it helped out.
@Monopolylife33
@Monopolylife33 6 дней назад
Thanks! Katie.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 дня назад
Thanks Monopoly Man. Or is his name Cash Uncle? I can't remember.
@anastasiya5742
@anastasiya5742 3 года назад
Thanks for the video! Maybe in the next videos you show us how to fill form 7202) and who is eligible for applying this form
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Thanks Anastasiya, I'll look into making that video.
@tiptip6155
@tiptip6155 Год назад
Thank you very much your RU-vid is very clear answer…I click like and subscribe for u now
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[4:05pm PST] @SaintOres.com Thanks Tip Tip, I'm glad the video helped. And welcome aboard.
@lordgeneral9
@lordgeneral9 2 года назад
Thank you, this was so helpful
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[1:12pm PST] @SaintOres.com Thanks General, Glad it was helpful!
@AlexVincent-j9c
@AlexVincent-j9c 12 дней назад
Thank you for this video. I notice that the form and instructions were changed in March 2024 compared to what you show on the screen (dated Oct 2018), and one of the IRS revisions is its explanation for Part I concerning SSN vs. EIN for single-member LLCs that are disregarded as an entity. Specifically, the sentence that previously said NOT to use the EIN has been removed. So, the way I read it, the instructions direct one to use the EIN if they have it. Have you seen this March 2024 change, and wouldn't it change your video instruction and your various answers to viewers' questions about SSN vs. EIN where you tell them to use the SSN and not to use the EIN based on the "old" version of the form? I myself do not know the answer, but put it to you. Thank you.
@mcalways
@mcalways 9 дней назад
Great question! As I do not feel comfortable using my personal SSN on a form being sent to a customer. 🥴
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 6 дней назад
Hello Alex, Sorry for the delay, your comment went to "Held for review" . Per IRS instructions it is the same as it was... Owner's SSN or EIN , but NOT LLC's EIN. Here is a direct link to the IRS instructions. www.irs.gov/businesses/small-businesses-self-employed/single-member-limited-liability-companies
@helenkalab8719
@helenkalab8719 2 года назад
You are amazing you made my day🙏
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[2:08pm PST] @SaintOres.com Thanks Helen, I like the 'amazing' part.
@tiptip6155
@tiptip6155 Год назад
Thanks!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[4:15pm PST] @SaintOres.com Your cash infusion will be put toward my next video. Or maybe toward a slice of pie at the new restaurant that opened here next to the office. Either way, thank you.
@11third
@11third Год назад
Short (to the point), sweet, and simple. Well explained. Thank you!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[12:24pm PST] @SaintOres.com Thanks 11Third, I appreciate the nice comment. But you could have used the word amazing after sweet.... Maybe next video.
@DontBeAJinx
@DontBeAJinx 2 года назад
Sad that high school dont teach you this.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:13am PST] @SaintOres.com I agree. You have to get out into the real world to learn a lot of business stuff. But now we have University of RU-vid.
@jakemathurin5638
@jakemathurin5638 3 года назад
Thank you so much!!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
[9:52am PST] @SaintOres.com Thanks Jake, You're welcome!
@jeanniemarie5717
@jeanniemarie5717 2 года назад
Thank you, very helpful.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:15am PST] @SaintOres.com Thanks Jeannie, Glad it was helpful!
@cynthiacastillo7920
@cynthiacastillo7920 2 года назад
it also has (OR EIN IF OWNER HAS ONE) for the TIN on the first page.
@selmaracha7606
@selmaracha7606 4 месяца назад
Thank you so much you cleared a lot for me 😍😍
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 4 месяца назад
Thanks Selma, and you’re welcome 😊
@kadila14
@kadila14 3 месяца назад
Hi - this was very helpful! I have to submit a W9 to an government entity that says they will only make payments to what you list in line 1 as the Name. However, I want them to pay my SMLLC and not me personally? How do I handle this? Can I put my SMLLC in line 1 as the Name and it's EIN? Otherwise, it seems they will send checks to my personal name and not to my business
@scott_t_woodsman
@scott_t_woodsman 3 года назад
Thanks for the info.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
No worries!
@jarelevens5833
@jarelevens5833 2 года назад
thank you so much you help me out with this and i will buy cup as well
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[1:42pm PST] @SaintOres.com Thanks Jarel, I'm glad the video was helpful....
@Ben83vm
@Ben83vm Год назад
Thanks so much 🙏
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[9:13am PST] @SaintOres.com Thanks Ben, I'm glad it helped....
@nikicvetanov7513
@nikicvetanov7513 2 года назад
Greta video, Katie! What about the tax id if you are a single-member LLC owner who does not have SSN?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:29am PST] @TaxesbyKatie.com Добрый день Niki, I just don't have enough detail to give you a competent answer, but depending on your situation, you might need to complete Form W-8 instead of a Form W-9. If you have an ITIN you should be able to use it instead of an SSN.
@jasonsong6747
@jasonsong6747 2 года назад
Love how you went through the line items step by step - great vid! Question: I am a sole proprieter and I don't want to give clients my SSN or home address for privacy reasons. I will get an EIN to protect my SSN. For the address line on the W9, can I use a PO Box? I've read that you can by only if I can't get mail to my home address (per statement on 1040). So does that mean I am forced to show my client my home address (I can receive mail at home)?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[2:34pm PST] google.com/localservices/review/taxesbykatie Hey Jason, Yes, you can use a PO box number on a form W-9. This is the address where the requester will send your tax forms (1099-MISC).
@alalal123421
@alalal123421 2 года назад
@@KatieStOresCFPChFCEA so using an EIN ok? I dont want to share social security. I am an independent contractor from what I understand I say individual/sole proprietor on the form and in that case either one works is that correct?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
@@alalal123421 [11:51am PST] @SaintOres.com Hey PA, Per IRS instructions if you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN.
@gerardomartinlammoglia9494
@gerardomartinlammoglia9494 5 месяцев назад
Hi Katie, the information you provide is very clear and helpful. Question, how should I complete it if we are a three-member LLC but in SS4 are a disregarded entity? Thanks!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 5 месяцев назад
Hello Gerardo, Per IRS rules- A disregarded entity is ONE person. Three member LLCs will be a partnership or S corporation. Without knowing your exact situation, you will probably need to apply for a new EIN for a different type of entity.
@BLESS59
@BLESS59 2 года назад
Great video
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[1:43pm PST] @TaxesbyKatie.com Thanks Bless, Glad you enjoyed it...
@skippylearn
@skippylearn Месяц назад
Tks for this info
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Месяц назад
Thanks Skippy.... I glad it was helpful.
@mialove6017
@mialove6017 4 месяца назад
Hello, what date should we put? The actual date you signed or the original date when the business started and first completed a W9?
@mariannpap3625
@mariannpap3625 2 года назад
Hi Katie! Thank you for the video! I just got back the W-9 form from the person I’ll work with, what do I have to do with the form next?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:27am PST] @TaxesbyKatie.com Hello Mariann, Then you use that information from the completed W-9 to fill out a Form 1099.
@dejouner
@dejouner 3 года назад
Thank you
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
You're welcome Day....
@leaddentalsupplyllc2064
@leaddentalsupplyllc2064 Год назад
Thank youuuuuuuu
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[10:44am PST] @SaintOres.com Youuuuuuuuu're welcome.
@hawkknight7616
@hawkknight7616 2 года назад
Thank you a lot Katie for your great explanation. I have a question about the part of signing which is often not deeply explained for the case of the US Multi-Member LLC owned by foreign individual owners (not US residents). Do one of these Member Managers have to sign it with his full legal name even if he is not a US Citizen nor Resident or we have to put the Legal name of the LLC as a signature (as it's considered a US Person) ?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[1:02pm PST] @SaintOres.com Hello Ghost, Sorry about sending you the response to Dave's comment. RU-vid comments can be confusing. As for your question, I would advise you to contact an attorney that specializes in this field.
@hawkknight7616
@hawkknight7616 2 года назад
@@KatieStOresCFPChFCEA No problem, Thank you 🙂
@6616Milan
@6616Milan 11 месяцев назад
Hi, your video was great, but I'm confused based on line 2. I got this form W9 after I left this previous company & this form is based on the previous company which I worked for earlier. Currently, I work for a different company, so what should I do? Please help. Thanks.
@danbaker8490
@danbaker8490 2 года назад
Hi Katie! Thanks for making these fantastic videos :) quick question: Should I give my US clients a W-9 or W-8BEN? I'm a Non-resident alien (UK citizen & resident) and 100% owner of a Wyoming single-member LLC (disregarded entity). Thanks!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:18am PST] @SaintOres.com Hey Dan, A customer should request a W-8BEN from you. The form sometimes referred to as a "certificate of foreign status," establishes that the individual is both a foreign person and the owner of the business in question.
@danbaker8490
@danbaker8490 2 года назад
@@KatieStOresCFPChFCEA Thanks so much for taking the time to answer! :)
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[9:22am PST] @SaintOres.com You're welcome....
@jsmith4430
@jsmith4430 2 года назад
Great video..Can you use 1099C for student loan??
@josetapia1397
@josetapia1397 3 месяца назад
If I have an itin. I can open a DBA and work as an independent contractor? And pay my taxes that way with the 1090?
@ralphfrank1984
@ralphfrank1984 2 года назад
Great video. Thank you. What would i put if i am working for a company asa free lance photographer? For Box 3, which am I Partnership or Individual proprietor?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[11:01am PST] @SaintOres.com Hey Ralph, For Box 3 you should mark Individual/sole proprietor since you are a freelancer.
@polovtsian7
@polovtsian7 10 месяцев назад
Hi, thanks for this helpful video. What about those who has a single member LLC but don't have a SSN? They should be writing EIN in part1, am I right?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 10 месяцев назад
Hello Fatih, A single-member LLC with no SSN should not write an EIN in Part I of Form W-9. Instead, they should write "SSN Not Applicable" or "TIN Not Applicable".The IRS considers a single-member LLC a disregarded entity for federal tax purposes. This means that the LLC is not a separate taxable entity from its owner. As a result, the owner's SSN is used for all tax reporting purposes, including Form W-9.
@kylamarizgloria380
@kylamarizgloria380 11 месяцев назад
Hi, your video is helpful! I am a little bit confused on the second line, the business name, I work for Cross Country Healthcare agency, should I put their name on line 2? Thank you for your answer in advance.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 11 месяцев назад
[4:09pm PST] @SaintOres.com Hello Kyla, If you are working as a contractor for Cross Country Healthcare, you complete W-9 as an individual and will omit the section with the business name.
@byrdtalks
@byrdtalks 8 месяцев назад
Hi luv the video but if i started an llc with more than 2 ppl after i already was working as an independent do i still put the bis name and or EIN?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 8 месяцев назад
Hello Byrd, even if you started an LLC with more than two people after you were already working as an independent, you should still put your business name and EIN (company's EIN) on the W-9 form.
@njaminc
@njaminc 3 года назад
You have the best videos on RU-vid, can you please do a video on "mistakes to avoid when filling out ppp"
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
Hey Nick, Thanks for the nice words. But how is it possible to even make a mistake after following along with the video? jk. I'll look into a "mistakes to avoid" video. My tax season is starting to ramp up, and tax returns will be very complicated for people after the last year, so my video output might be less until after April 15th. Thanks again for the input.
@njaminc
@njaminc 3 года назад
@@KatieStOresCFPChFCEA Katie, trust me ,I'll find a way to mess it up .lol
@skwerl81
@skwerl81 2 года назад
Thank you so much for this! If I'm an LLC taxed as an s-corp, should I automatically include the exemption code for 'corporation'?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[4:23pm PST] @TaxesbyKatie.com Hey Annette, You are an LLC taxed as an S-Corp, and an S-Corp is a pass-through entity. Backup withholding exemption doesn't apply to you. This is for Corporation (C- Type).
@skwerl81
@skwerl81 2 года назад
@@KatieStOresCFPChFCEA ah, that makes sense - thank you SO much for your reply! ☺
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[4:35pm PST] @SaintOres.com You're welcome....
@mokassem1311
@mokassem1311 Год назад
My business is not established yet but I opened an LLC - Sole member and I was given EIN when I filled LLC. In the mean I have separate/different job. My question which box I should select. Also in line 1 what should put the entity or my name because a company is asking to put the entity name with LLC. You support much appreciated. Thank you.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[11:04am PST] @SaintOres.com Hello Mo, You should check the very first box "Individual/Sole Prop or Single -Member LLC". You can input your business name in the Box 2. Since you are a single-member LLC (disregarded entity), enter the OWNER'S SSN (or OWNER'S EIN, if you have one). Do NOT enter the DISREGARDED ENTITY's EIN. EXAMPLE, Jon Doe has SSN and EIN. Jon Doe has disregarded an entity called Green House (Green House has its EIN). So, on the form, Jon Doe will provide his SSN or EIN, NOT Green Houses' EIN, because Green House is a disregarded entity.
@bigh9884
@bigh9884 2 года назад
Question: I have a tenant who lost his job and isn't able to pay his rent. My tenant has signed up for the "Renters assistance program ".Do I have to fill out a W9 on my behalf in order for him to get approved?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[12:51pm PST] @SaintOres.com Hey Big, You have to contact the customer service staff of that "renter's assistance program" and verify it with them since it is state and program specific.
@LifeWithAlliDaily
@LifeWithAlliDaily Год назад
This was really good and thorough. I have a question about using my EIN.... I thought as a single LLC.. you can use that bc you don't want your SSN being given out to every person you interact with. When do I ever use the EIN?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[10:44am PST] @SaintOres.com Hello Alli, Per the IRS rule, If you are a sole proprietor and have an EIN, you may enter your SSN or EIN. But if you are a single-member LLC, then you enter your personal SSN or EIN. DO NOT enter the disregarded entity’s EIN.
@LifeWithAlliDaily
@LifeWithAlliDaily Год назад
@@KatieStOresCFPChFCEA Wow, so the Disgregarded Entity is a seperate number? I thought that was just a term used to distinguish how I wanted the govt to see me. So you apply for a disregarded entity number and a EIN?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[1:05pm PST] @SaintOres.com Hey Alli, Your disregarded entity can have its own EIN number, and you personally can have an EIN. For example, if you started your business as a sole proprietor and you obtained EIN under your personal name. Then a few years later, got registered with your state as a single-member LLC (disregarded entity), you will need to obtain EIN for your LLC. So, you will have two different EINs. I hope this makes sense.
@LifeWithAlliDaily
@LifeWithAlliDaily Год назад
@@KatieStOresCFPChFCEA 1. You are awesome for replying and I TOTALLY APPRECIATE YOU!! 2. I Registered my business last year as an LLC and immediately through the same application applied for an EIN through LegalZoom bc they say it's "highly" suggested. I then was asked by a hospital to make treats and they wanted this W-9.... I got it off of IRS gov and then, saw this bc I got confused. I ended up putting my SSN on it instead of my EIN. I honestly don't think I'm a disregarded bc I only did the one application. But I'm learning so much from you💜💜
@LifeWithAlliDaily
@LifeWithAlliDaily Год назад
Oh... So my SMLLC I use my EIN at all times?
@javieraleman8150
@javieraleman8150 Год назад
Thanks for your help, but what about if this form is been requested for being an obligor? so that they can return money to you.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA Год назад
[1:16pm PST] @SaintOres.com Hello Javier, An obligor is a person or entity that legally owes money to another person or entity. Not sure why they will be returning money to you unless you overpaid.
@Alexandra-mi3nn
@Alexandra-mi3nn 2 года назад
Hello, question. If I have an a sole prop/single member LLc but have a EIN for the business. Which do I use my social or the EIN?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:24am PST] @SaintOres.com Hey Alexandra, Per IRS rule, If you are a single-member LLC that is disregarded as an entity, enter the owner’s SSN (or EIN, if the owner has one). Do NOT enter the disregarded entity’s EIN. Hence, enter your SSN.
@dr2cool4u
@dr2cool4u 5 месяцев назад
Great Video thanks for sharing. I have LLC with 2 members. Can I leave Line 1 blank? I'm going to put business name on line 2 and I'm going to select LLC P on line 3, and EIN # in Part 1.
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 5 месяцев назад
Hi Alaa, No, you Can't leave Line 1 blank. Enter the legal name of your LLC on Line 1. Enter the LLC's DBA name on Line 2 (optional). Check the box for "LLC treated as a partnership" on Line 3 and enter "P" in the space provided. Enter your LLC's EIN in Part 1.
@kylejantzer5388
@kylejantzer5388 3 месяца назад
Hi Katie. Forgive me if you answered this below. I looked and couldn't find anything. I'm a single member LLC with a different DBA. Do I put my LLC name as well as my DBA under line 2 or do I leave my DBA off all together? Thank you so much!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 месяца назад
Hello Kyle, Line 2: enter the name of your LLC. After, in the same box write "dba" followed by your DBA name.
@kylejantzer5388
@kylejantzer5388 3 месяца назад
@@KatieStOresCFPChFCEA Awesome! Thank you soooo much!
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 месяца назад
You're welcome.....
@VICTORYTAXESGROUPIN
@VICTORYTAXESGROUPIN 3 года назад
I just got approved for ppp loam and the contract have a w-9 ? I didt sign yet because im scaret ppp is 100 forgiveness please i need help
@jonikfirst9760
@jonikfirst9760 2 года назад
I see that you are replying to comments. Would you tell me which box I need to choose for my father if he is just a truck driver who work with a company?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 2 года назад
[10:59am PST] @TaxesbyKatie.com Hello Jonik, I don't have enough information to answer your question accurately.
@zaddvang
@zaddvang 3 года назад
I have a question, so when a vendor mark they are LLC S is this mean they need a 1099? Or whenever they mark LLC Single and LLC S,P,O: this is automatic stated that this vendor need 1099 form?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 года назад
[9:49 AM PST] @TaxesbyKatie.com Hey Ploua, In general terms, Form 1099-MISC is issued to everyone but corporations. This includes individuals, partnerships and most professional business entities. An LLC is only considered to be a corporation if it has elected to be taxed as a corporation. If it has not, the LLC should receive a 1099-MISC.
@ravikiran6281
@ravikiran6281 3 месяца назад
Hi, I am not a resident alien (lived in USA for 5 years or more) but I'm on my Post Completion OPT. If my employer is asking me to fill out a W9 should I sign it or ask for a different form?
@KatieStOresCFPChFCEA
@KatieStOresCFPChFCEA 3 месяца назад
Hello Ravi, I am not very familiar with this but I did a little research. You likely shouldn't sign a W-9 on F-1 OPT if you're not a resident alien. Here's why: A W-9 form is used to collect your Taxpayer Identification Number (TIN) which is usually your Social Security number (SSN) if you're a resident alien for tax purposes. It helps the payer report income they paid you to the IRS. As an F-1 OPT student, you generally qualify for an exemption from Social Security and Medicare taxes (FICA) unless you've been in the US for more than 5 years (substantial presence test). A W-9 might trigger withholding of these taxes which you might be exempt from. Politely explain to your employer that you're on an F-1 visa with OPT and likely qualify for a tax treaty exemption. You can mention you might need a different form. Alternative Form (W-8BEN)
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