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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