Question by ryan m: What is a W-9 Form?
I am confused as to what a W-9 tax form is. I signed one when I join YPN and I’ve made a $ 100. If they send me the check will I have to file taxes on that $ 100 or do you have to earn a certain amount per year to get taxed?
Thanks,
Ryan
Best answer:
Answer by tax_black_belt
A W-9 Form is a request for taxpayer identification number used to report cash payments to individuals and businesses who are not employees.
The $ 100 is subject to taxes, as is all income. Whether or not you have tax due on the amount is another matter, as that is based on the total amount of income earned from sources over the year, and the permitted deductions.
When YPN pays you $ 600 or more, they will have to file a 1099-MISC report of the amount and your tax ID with the IRS.
What do you think? Answer below!
www.youtube.com Thank you to all those who have linked this video on their blogs and websites !! I appreciate it soo much. ********************************** Watch this video in high quality youtube.com Autoplay an 18-minute playlist of my most popular videos www.youtube.com Autoplay a 1-hour playlist of all my singing videos www.youtube.com To put playlists on your myspace, copy the embed codes on the playlist page www.youtube.com ********************************* ** Please dont leave personal info in the comment section **
Recent Comments