Posted by TONEY SANDERS on 1/12/05 11:56am
Msg #16392

W9


How many people file "everything" on there taxes if they are not w9 at the end of the year?

Reply by CarolynCO on 1/12/05 12:01pm
Msg #16398

Are you implying that just because you don't get a W-9 you don't have to report it as taxable income? i.e., working under the table.

Reply by TSanders on 1/12/05 12:46pm
Msg #16409


Yes.....and no I don't do this. Just a question

Reply by mike/ca on 1/12/05 12:46pm
Msg #16411

I had the same question a while back and after some research companies do not need to send a w9 unless they have paid you more than $600 , i still need to speak with my cpa but if they don't report ??

Reply by Jon on 1/12/05 1:01pm
Msg #16415

You are required by law to report ALL income on your taxes. Whether or not you get a 1099(not w-9) is irrelevant. There are a lot of people who do not report all of there income, if they are ever audited, they will wish they had. Also keep in mind that while companies are not required to send a 1099 unless you make more than $600, they still claim the money paid out on their taxes. If they are audited, you had better believe that they will have the records to show they paid you. If the IRS decides to verify the information, you could find yourself in trouble.

Remember, they got Al Capone on tax evasion, not the other stuff he did. You leave a financial trail with bank accounts, checks, credit cards and so forth. If they decide to track your finances, they can.

Reply by mike/ca on 1/12/05 2:14pm
Msg #16437

please! not saying i don't intend to report it, i keep excellent records was just curious as to why ss companies would not send those w9

Reply by PAW Notary Services on 1/12/05 3:15pm
Msg #16449

Re: W9 and 1099 confusion

Please get the nomenclature right. A W-9 is a form used to verify your TIN with whomever YOU SEND the W-9 to. In return, a contractor must provide a 1099 to each IC that earns over $600 in earnings during the year. Therefore, YOU RECEIVE a 1099.

Reply by Unknown on 1/12/05 12:55pm
Msg #16413

NO W9 = No reporting it for me

Reply by Jon on 1/12/05 1:09pm
Msg #16416

It is people like you that give all notaries a bad name. I bet you also backdate and complete blank certificates for any one who asks. As a notary, you should possess honesty, credibility, truthfulness, and integrity. Your statement shows you do not possess any of those qualities, which is probably why you didn't post your name. Your willfull disregard for the law is nauseating to me, and should be to any self-respecting person!

You are, in a word, PATHETIC!!!!

Reply by OH NO on 1/12/05 2:09pm
Msg #16433

Please don't hit me no mooah masser

Reply by PAW Notary Services on 1/12/05 3:09pm
Msg #16446

And this from someone who uses a gov't network.

Reply by Ninna Mantooth-Lopez on 1/12/05 1:15pm
Msg #16418

I've never received a 1099 from any company I've worked for... and I have made more than $600 from some of them in a given year. However, I always, without fail, report every dime I make. Those that don't and think they can fly under the radar don't deserve the title of "Notary Public" in my opinion.

Reply by Nicole_NCali on 1/12/05 1:23pm
Msg #16421

Here are reasons why it is beneficial to report self employment income:

1. This gives the social security administration viable earnings for future benefits. If you don't report it, it hasn't happened. So when you go to apply for SS, they will only take into consideration your reported W-2 information and nothing else.

2. As a former Tax Examiners, I have received calls from prostitutes, drug dealers, and other sundry personnel, the question that they had was should they report their income, my answer was yes. The premise behind my reasoning, is that you only get state time for criminal activity, with state mandated sentences, but for tax evasion, you get federal time and federal sentencing. Essentially, the US federal govt are very vague about the action on criminal income, but they do like to receive the taxes on this income.

3. Being self-employed, is always at a loss for the people who are self-employed. With the cost of health care, all expenses of maintaining your business, etc, most people don't clear as much as they think from the money they receive. About .55 of the dollar made for a self-employed person is probably considered viable income for living expenses.

This is just my two cents..if someone wants to give me change, I can take a penny back-