November 22, 2020

W9 Form 2020

W9 Form 2020 hi I'm John Croyle the founder of w-9 manager today we're gonna talk about how to complete a paper w-9 form now I'll be honest with you I am NOT a fan of paper w9 forms so immediately after, I show you that I'm also going to show you how to create an electronic w-9, form in w-9 manager and it's.

Free to do that forever and you can create that save it and send it later at any point in time it basically is free forever so stay tuned we'll.

Go through that in just a minute and a w-9 form is typically, used by companies that will pay you or your company and they need to identify your company name and your EIN number, or your individual name and your social security number when the the payment is reportable they can report that to the IRS so that's the main reason for a w-9 form is to gather your,. Name and taxpayer identification number so in line one this is going to be your legal entity name so in, this case we're gonna use ABC company Inc and if you're an individual yeah like if it were me just I would just put John.

Croyle as a legal entity name for myself if I was being paid individually in a company the second line is optional and it would show your business name or the doing business as name, so in this case let's just call this we're doing business as W a, manager okay and then the disregarded entity name is.

The name of the LLC if your own by a single member and you have a choice of either using that name or your business name your DBA so this is all of an optional and optional, process or an optional field so line three you're going to select the. Type or the tax classification that relates to you so if you're. An individual or a sole proprietor that does not have a legal company you would, just select individual or sole proprietor and we'll come back to single-member LLC in just a minute if you're a c-corp raishin that's pretty self-explanatory S corporation partnership trusts in the state and remember only check off one, of these items after an LLC click here but say you're a non-profit you can select here just put. A non-profit type in whatever your pure government you can select here put government and that's under other so, again only select one of these if you're an LLC and again I'm not going to go into a lot of depth. On LLC's and how to fill, out a tax return for that I'm gonna create another video so look for that on my youtube channel but, in LLC you've got basically three choices there are four options on an LLC three of them you would fill out here so if you actually completed an 8832 form to be treated as a.

C corporation for tax purposes you would check off LLC and put C here if.

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