I hate paying taxes. I know it must be done but I want all of my money to stay in my pocket. I will do what I have to do to make sure that I get the best out of my business.
~Keeping coins in my pocket
Today I want to talk to you about filing your W9. If you don’t know what a W9 is I’m going to enlighten you.
When you register on sites that has everything setup for you a W9 is more than likely going to be a part of your registration process.
Do NOT skip this step. You want to have it on file. You simply input your REAL name and anything else requested on the form. It’s a very simple process.
What is a W9 & why do you want one?
A W9 Form is used for tax purposes.
The W9 must be completed by ALL residents of the United States. This form is to let it be known that you are an independent contractor. By filing this it allows you to receive ALL of your revenue without having taxes withheld. This means more money in your pocket.
Please don’t be confused that you won’t have to pay taxes for any part of your business. The W9 form only let it’s be known you are not an employee of the site you have registered to provide your services.
Go ahead and file that W9
We will talk about your obligations as a self employed business owner in a later post.
Until next time..