How to Complete Form W-9 For Sole Prop, LLC, S Corp & Partnership
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- Опубліковано 15 лип 2024
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In this video I teach you how to complete a W-9 for a Sole Proprietor, Sole Proprietor with a DBA or trade name, Single Member LLC, Multi Member LLC, Single Member or Multi Member LLC who elected to be taxed as an S Corp, Multi Member LLC taxed as a Partnership and even a Corporation who elected S Corp status.
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Timestamps
00:00 Intro: How to complete a W-9
02:04 Why do you need to complete a W-9
03:12 Sole Proprietor
06:04 Sole Proprietor w/ DBA
07:45 Single Member LLC
09:30 Multi Member LLC
10:50 Single or Multi Member LLC taxed as S Corp
12:15 C Corporation taxed as S Corp
This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. Some of the links above are affiliate links which means that if you purchase a product or service with the provided link, I may receive a commission with no additional cost to you.
© Navi Maraj CPA PLLC. All rights reserved.
#W9 #W-9 #FormW9
I have spent the better part of 2 days researching how a LLC-S Corp with a DBA should complete a W9 and ran across this video. You broke it down in understandable language and now I am confident that I am filling it out correctly. Thank you!
I just watched your video on the S-Corp as a Incorporated business. One of the best I've seen on UA-cam. I just subscribed and will be watching the rest of your videos. Thank you for your guidance.
Absolutely the best video I have ever found on filling this out. Thank you so much, you earned a subscriber and a fan for life.
Woohoo! Fan 4 Life! Thanks for the feedback. 👍🏼
Thank you for this! Answered so many questions quickly!
O my goodness, THANK YOU SO MUCH!!! Great, informative & straight to the point.
⏱ TIMESTAMPS
➡ Sole Proprietor - 3:13
➡ Sole Proprietor w/ DBA - 6:04
➡ Single Member LLC - 7:45
➡ Multi Member LLC - 9:25
➡ Single / Multi Member LLC taxed as S - 10:53
➡ Traditional Corporations taxed as S - 12:14
THANKS!
Do I have to sign and date the Traditional Corporation Inc
I rarely comment on youtube videos, but this was so helpful and clear I had to say thank you! Clear, friendly, and the screenshare helped soooo much.
Incredibly helpful, thank you. My only advice is to create chapters for the various scenarios. But honestly it was so great, I was happy to watch the whole thing and learn how the other entities are treated. Instant sub.
Thank you so much for this info!!! You've helped me immensely!
Great work brother! Appreciate the effort. You have answered a great deal of questions here.
Thanks, you've got a new subscriber now. Keep up the good work.
Thank you so much for sharing this information, you explained things very clearly and it was educational to learn about the other entities as well. Subscribed!
Thanks so much - glad you found it helpful to you.
Exactly what I needed thank you!
Thank you for this very helpful information. Much appreciated!
This so very helpful. I am glad that I found your video. 😊
Thank you 🙏 other people are saying that I have to use my SSN but I knew there had to be another way
Perfect ... thx for the examples just what I needed
Thank you so much for breaking this down!
Thank you for being amazing and straight to the point
Thanks for the feedback! 👍🏼
Really great. Thank you for this great help.
Thank you for this video!
Very Informative,
Thanks!
Great info. Very easy to understand and follow
Glad it was helpful!
Wow..! well said...! Thanks my friend.
Thank you. This video was very informative.
You're welcome - glad you found it helpful!
Thank for another helpful video.
I do appreciate your help man I was looking exactly for that came along it video, Nice and very clear easy to understand
Glad to hear it!
Hi Navi, I duly appreciate your video. Please continue guiding us. We might look for you soon for future business advice @@NaviMarajCPA
Thanks for the video. Very helpful, Good explanation
Glad it was helpful!
Thats great, thanks!
Thank you, super helpful!
You’re welcome!
Thank you so much!!!
Awesome video, was tryna figure out how to fill out as single member LLC being taxed as s corp
Very well explained. Keep it up
Thank you - appreciate the feedback and encouragement.
Thank you so much I have a SMLLC and other CPA’s was saying put my ssn and that did make sense to me the reason for me filing LLC is to separate myself
Great thanks
Hi, Thanks for the video! Greatly appreciate the information, I've become a grateful subscriber! Question...line 4, do we leave that blank?
Amazing info!
Thanks Arber!
The only problem with videos like this is, other UA-camrs (CPAs, attorneys, etc.), offer different instructions. The "option" to use the EIN as a sole proprietor is firmly stated as being "wrong" by other video authors, vs this being an option. However, you have effectively illustrated exactly where you saw the instructions and thus, the others are mistaken (despite them also being CPAs or attorneys). While the EIN isn't necessarily wrong, indeed, the IRS encourages the use of one's SS if they're a single member LLC, etc. Nice job, Navi.
Hey Christopher. Thanks for the feedback….this form and Form 2553 get completed incorrectly very, very often. Thanks for watching.
@@NaviMarajCPA
Wouldn't you know, the insurance company which is to be paying my commissions, rejected my form insisting that I should have the EIN vs my SS number there? It's not just individuals sending them in wrong. It's employers (and contracting companies) also not understanding the rules. Held me up over two weeks on this. I now have to screenshot the page instructions. Beyond frustrating.
This is the most confusing part. It says you can use YOUR EIN if you have one but NOT the LLC EIN. So if you have a personal EIN you can use that instead of your SSN but not the EIN for the disregarded entity. That's the way I am reading it as well but hey I'm not the CPA!
Excellent thank you
thanks for this video
very helpful!
Glad it was helpful!
Thanks for your video, Navi! If the single-member LLC is a disregarded entity and the owner of this single-member LLC is a C corporation, how should we fill out the W9? Should we list the owner's name on Line 1 and the single-member LLC as the Business name on Line 2, check the "C Corporation" box on Line 3, and list the owner's EIN in Part I? Thanks again!
Thanks for the content. Why as a single member LLC do you prefer to use the ein instead of social. Im gonna take ur advice but I was just curious.
Thank you 🙏
You’re welcome 😊
Thank you 😅
Thank you for the explicative video, what about an Single Member LLC elected to act as a C Corp?
This is great. I would love to speak to you about paying for some of your services.
Thank you for clarifying the process. I've been a SMLLC since 2018 as an Insurance Broker and just applied for my S-Corp to eliminate self-employment taxes (double taxation)- waiting for IRS approval. Since I get paid by 1099-NEC by the 10 insurance companies I'm appointed with I'll have to provide them with my updated W-9, showing being taxed as an S-Corp. Does it affect how I'm paid by the insurance companies? I don't think so, but just want to confirm. I believe it's just a way fro them to comply with the IRS on how they pay me. I also just signed up with a payroll company to alleviate my estimated quarterly taxes. Again, excellent video!
Very informative and helpful. Thank you
You’re welcome Mark!
Question 🙋🏻♀️
I own a boutique where we offer alterations as a service. We recently picked up a dry cleaning account. They wasn’t me to fill out a W9, do I still charge them sales taxes?
Thank you for your video. I have few questions, for multi-member llc, in line 3 you checked the box "Limited liability company..." and typed P, but there is a Note below that this box concerns single-member owner. Shouldnt the P box be checked instead? I have multi-member LLC (foreign owner). Should I type something in line 4? As my address I put the address from EIN (which is actually registered agent addres not principal addres). I wonder if I did that corectly.
Why do you advise to use the EIN instead of social security number??
Hello again Navi, I have a few tax questions! How much and how soon can we connect for the questions? Thanks in advance!
Best,
Moneico Robinson
What do I put on line 4 as an individual?
Once again, conflicting info. Okay, so this is what happened to me TODAY. I have a trucking company that is a SINGLE-MEMBER LLC. Last night I sent out W9s to a bunch of brokers. I put my name on Line 1 and my company name on Line 2. On Part 1, I entered my EIN. So TODAY, I got a couple of emails stating that I filled it out incorrectly, because the name on Line 1 and the EIN on Part 1 didn't match. So I have to resubmit them now.
Rule of thumb: Make sure that the name on Line 1 matches the number you enter on Part 1. The previous two videos I watched before this one say to use this method.
Thank you so much for this helpful video. What about a single member LLC considered as a Disregarded Entity. When i'm not a us person and i do not live in the US but i own the US LLC. Do i even have to fill out the W-9 in that case or is it another Form i need to fill out? Some of the Affiliate Websites who i registered an account for my Business refuse the W-9 when i fill it out like you showed in the Video. And now im very confused. Also the fact that it says Sign as a US Person when im clearly not a us person just own a us LLC. Kind Regards Daniel
Does it matter which member of a multi-member LLC signs the W-9, assuming they are all US persons?
Helo. What form should I give my vendors when asking for W9? I have a smllc in the US but I am from other country nor a resident or a citizen of USA
Question, if instead of LLC my company name ends with “Inc” but I am an S corp. would you check on the Scorp box or still LLC and type “S”?
Hi, as a multi member llc, do we sign the document using the business's name?
Can the W9 form be updated after its been submitted? And is that an easy process?
I am an insurance agent with a single-member LLC that usually files a Schedule C due to receiving a lot of 1099s assigned to my SSN. I have received approval to file as an S-corp effective retroactively to 1.1.2023. I am updating my W-9 forms with the companies I receive commissions. According to your video I would list my LLC name on line 1 and select the Limited Liability Company box and insert S correct? I tried this with some of the insurance companies I work with as some use an electronic fillable form and it always produced a w9 with the LLC name in line 2 no matter how I complete it. I still used the EIN however and it says it will pay to the LLC accordingly. Is this good enough even though my name is still auto populating in line 1?
Can you show us for the 2024
When I applied for my LLC and it's EIN. I got a paper (Form SS-4) saying I should write down anything relating to taxes exactly as it shown in that paper (I read that paper after filling out a couple of W9) The only thing is that in that paper they switched. line 1 and line 2. I am a Sole Member not a multi member LLC. The requester told me to just fil it out normal rather than how the paper is written, but I have gotten a messaged back saying the EIN doesn't match. I fear I have created a mess putting in my SSN in one, and EIN in another.
What if your a P.C. a Domestic Professional Corporation. How would you then fill it out??
Hi Navi. When I'm filling out my application, can I bypass using my given name & ssn and just put my llc name and ein#
What about if I don’t have any corporation?
Hello I’m filling out my w-9 for my publishing company do I put my name or company name on line one? Thanks in advance!
Thank you for the great information. I do have a question on how to sign the W-9 as a single member LLC. Would I just sign it as Jane Doe or Jane Doe Owner of 123 Company for example?
Just your name would be fine.
What if there is a single member LLC, that is taxed as an S-Corp, and has a DBA name. How would one fill out box 1 and 2 in this scenario? 3 would probably be Limited Liability Company with "S" written.
What if you send a W-9 to someone whom you have paid for services, but he never returns it to you? What do you do about the 1099? Second question: If you already have all the information you need to fill out the 1099, is there a need to do a W-9?
but what will happen if a sole p puts there dba as the name with ein
What about line 2 of the W-9 for an S-Corp? Completely skipped that
i live in GA. i just open an LLC. Question is Do i need to request EIN beofre TIN. ?
Why yours applycation is dissapiering from my phone just like this is same one fallow my phone or yours you tube ?
Ive question, Im from india registering sole LLC I got TIn but EIN takes 3months. Can i use TIN ?
how do I sign things!?
You didn’t address line 4, specifically for LLC partnership individuals. Leave blank? Thank you.
I needed trust/ estate ?
Hello,
We would like to hire CPA for our company's Tax filing.
Can you go into more detail as to why we should be using our LLC EIN for single member LLC filing? The instructions explicitly say not to. It seems to me that the only way around using a SS is to apply for a sole proprietor EIN and enter that in order to adhere to the instructions. Can you share your thoughts on this?
Hi there...I disagree that the instructions "explicitly say not to". On page 5, the instructions state that "for this type of account:" where the type of account is "sole proprietorship or disregarded entity owned by an individual" to "give name and SSN of:" "The owner" with a superscript of "3". If you go on to read superscript 3 it says "...You may use either your SSN or EIN (if you have one), but the IRS encourages you to use your SSN. I usually prefer the EIN because most of my clients eventually want to elect S Corp status and I just think its best to have the EIN on file of the companies requesting the W-9 to begin with - just my opinion. Either one is acceptable....thanks for the question.
@@NaviMarajCPA it literally says "do not enter the disregarded entity's EIN after the line you reference.
Part I. Taxpayer Identification Number (TIN)
Enter your TIN in the appropriate box. If you are a resident alien and you do not have and are not eligible to get an SSN, your TIN is your IRS individual taxpayer identification number (ITIN). Enter it in the social security number box. If you do not have an ITIN, see How to get a TIN below.
If you are a sole proprietor and you have an EIN, you may enter either your SSN or EIN.
If you are a single-member LLC that is disregarded as an entity separate from its owner, enter the owner’s SSN (or EIN, if the owner has one). Do not enter the disregarded entity’s EIN. If the LLC is classified as a corporation or partnership, enter the entity’s EIN.
@@NaviMarajCPA hi. I have this same issue. Irs instructions does say not to use LLC EIN. It says you can use owner's ein but NOT the LLC EIN. my payers didn't want to use my SS or personal name and now I am afraid I will have problems with the irs. They used LLC name and LLC EIN on 1099
federal income tax purposes, a single-member LLC classified as a disregarded entity generally must use the owner's social security number (SSN) or employer identification number (EIN) for all information returns and reporting related to income tax. For example, if a disregarded entity LLC that is owned by an individual is required to provide a Form W-9, Request for Taxpayer Identification Number (TIN) and Certification, the W-9 should provide the owner’s SSN or EIN, not the LLC’s EIN.
@@livechild212 Hi Ne, did you ever figure this out because I noticed the same thing...? Can I put my "disregarded entity's" EIN or do I need to create a Sole Proprietor EIN so I don't have to send my SSN on a W9?
Additionally, if you create a sole proprietor EIN, did you enter your "trade name/DBA" or LLC name as well or just leave it blank?
Oh, how I wish you did taxes in my state…
Can you use a w9 form as a proof of income for an income for lease or mortgage in your business name?
Hi Pam - no you cannot.
LLC multi-member partnership. Who signs the certification ?
The auto form is signing it as the LLC Name.
One of the partners.
Great video but how about your LLC is owned 100% by a Foreign Corporation?
Not my specialty so I don't know. Sorry.
Do independent contractors in Canada have to fill out W-9 forms for their client in the United States?
If the contractors resides and performs their work in Canada (and is not a citizen/permanent resident of the US), then they should be sent a W8-BEN instead of the W-9.
@@NaviMarajCPA Thank you!
Is there a difference between EIN for state or federal?
Not that I am aware of. Usually the State will ask for your FEIN which stands for Federal Employer Identification Number.
Thank you so much.. I have UA-cam channel with ads...
Do I have to put the word "LLC" after my company name all the time or it can be omitted?
I would always use it but this is more of a legal question than a tax question.
what if your LLC receives mail at a different location from the location that it was formed?
That’s not a problem. Use your current mailing address. Per the Form instructions, “Enter your address (number, street, and apartment or suite number). This is where the requester of this Form W-9 will mail your information returns. If this address differs from the one the requester already has on file, write NEW at the top. If a new address is provided, there is still a chance the old address will be used until the payor changes your address in their records.”
You mentioned it in the beginning but didn't show how to file as a single member llc, elected to be taxed as an s corp.
Hi Walter...check 10:55...I cover it at that timestamp in the video.
I filled out the W9 as a single member LLC and put my SS number. I opened a checking account for the LLC using the EIN. Based on the W9, will I get paid in my name or the LLC name? Can I deposit checks made out to me in the LLC account?
Generally, how you get paid and how your 1099 will be issued is based on how you completed your W9. If a check is made payable to you (the individual) and not the LLC, usually the bank will give you some push back on depositing those checks in the LLC account. You may be able to endorse the check and sign it over to the LLC but I would inform the issuer that you want future checks made payable to the LLC.
@@NaviMarajCPA then do I need to fill out a new W9 and put the EIN instead of my SSN?
I’m renting out my home and my tenant is requesting a W-9. Is this normal?
Nope - not normal. If you’re renting a commercial property and have a business owner as a tenant, then it would be normal.
Can I put the llc ein?
Yes - I discuss that in the video and show you where in the instructions say that you can.
How do I get the W9 official w9 form
You can download the form directly from the IRS website.
Why dissapiering forms in on line ?who abuse of power?fallow DISTRUCTIVE I ask superlowyer criminal to help me after hospital COMMITED MALEPRACTICES like revenge of mrTrump to my children
???????
So here is my situation. I'm looking for a CPA mentor / Contractor to help direct me.
I'm "John-Henry: Doe." I have a commercial PERSON JOHN HENRY DOE. I've noticed a claim on that Trademark entity. I've since created a trust with a security agreement, commercial notice of claim, and publicly recorded this. Then I created an LLC to operate in in commerce and accept liability for agreements.
I will operate through the LLC in order to fund my separate Trust entity, my estate board recognizes this and supports it. My question is what forms properly report the payment from the LLC to the Trust instead of paying the old cestui cue vie trademark person.
The public and private isn't as complicated when you finally realize the difference venues. But the procedures is what gets me.