Tax experts I have a question.

Hello guys,

I had a question about taxes. I did some “side work” for a company. They knew I didn’t have a company or EIN or anything. However now it’s tax time they want me to supply them with a W9 which I have no problem doing but my question. Is this the best approach? I did sign a contract which stated they were to pay me X amount for providing X service. I thought as an individual I could sign a contact but didn’t think it would be treated as a business transaction. Is the W9 form the right form for this type of transaction? Or is there another way I can claim this without being presented as a company?

Thanks in advance,

This is pretty standard, any non employee paid more than $600 in a year should get a 1099

Just to add some more info... Yes this is the correct action to do this. When you provide them with the W9 they will report to the govt that they paid you X amount. If you decide to leave this off of your income for your taxes the govt will know. Will you get audited? I don't know but its more risk than I would take. So basically you need to report this as additional income.

suicidekings said:

This is pretty standard, any non employee paid more than $600 in a year should get a 1099

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Ahh thank you very much!! So I should get a 1099 from them or I should give them a W9? Or both?

Sorry for so many questions I’m normally a 1040EZ kind of guy.

Id tell them to give you a 1099. Then you just report that as income.

1QWK96GT said:

Ahh thank you very much!! So I should get a 1099 from them or I should give them a W9? Or both?

Sorry for so many questions I’m normally a 1040EZ kind of guy.

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No worries at all man. Both... Once you give them a W9 they have your information, then you get the 1099 from them. They cant issue the 1099 without your W9 info.

1QWK96GT said:

Ahh thank you very much!! So I should get a 1099 from them or I should give them a W9? Or both?

Sorry for so many questions I’m normally a 1040EZ kind of guy.

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W9 should be for informational purposes on their end, so they can provide you with a 1099 MISC

You guys are awesome! Thanks!