W 9 INDEPENDANT CONTRACTORS

A W9 form is anoth­er form that is used to report your wages to the IRS. You may receive from your employ­er if they con­sid­er you an inde­pen­dent con­trac­tor. When you first get the job you will be asked to fill this form out. Its sim­i­lar to a W4 those are if you are an
employ­ee and your wages are report­ed on a w2 at the end of the year. If you are giv­en a W 9 you will be paid on 1099 on at the end of the year.This is if the per­son or IF A FREELANCER has received wages of 600 dol­lars or more.
When receiv­ing a form W9 your employ­er or who­ev­er is report­ing the wages aren’t tak­ing out tax­es, or pay into social secu­ri­ty or Medicare tax­es. This is your respon­si­bil­i­ty. If by any chance you are laid off you can­not receive unem­ploy­ment, due to noth­ing being paid for it. Make sure you fill out the right form if you are an employ­ee or a con­trac­tor, it’s very impor­tant when the time comes to file tax­es.
Anoth­er thing I would sug­gest is to keep record or receipts of any­thing you have pur­chased while being an inde­pen­dent con­trac­tor, you can use it as expens­es dur­ing tax time.
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                                             MORE INFORMATION ON W 9

  • YOU MUST BE A U.S CITIZEN TO FILL OUT THIS FORM OTHERWISE A W8 IS IS USED
  • INCOME THAT MAY BE SUBJECT TO 1099  
  •  income paid to a per­son as part of a con­tract
  •  cer­tain real estate trans­ac­tions
  • mort­gage inter­est paid by an indi­vid­ual
  •  div­i­dends paid against an invest­ment and var­i­ous oth­er trans­ac­tions from dif­fer­ent finan­cial insti­tu­tions teacher3.jpg