How should a single-member LLC fill out a W-9? In this video, I'll simplify the difference between the LLC and how it's treated for tax purposes so that you always know when to use your social security number or your EIN number. I'll also explain the S corp election and help you understand all of the differences between the LLC as a business entity and taxes. If you want to grow your business and you're new to my channel, consider subscribing by clicking the watermark in the bottom right corner of this video. I look forward to seeing you around the channel and learning more about your business and your questions. Okay, so here we are at the W-9 form. You can see the IRS link up here to get to this form. Just search IRS W-9. This is a request for taxpayer identification number and certification. What this means is if someone has hired you to do a project for them or hired your business, they will give you this form to complete. This form takes the place of Form W-4, which may sound familiar from when you were an employee and got a job. You would complete your W-4. So, if you hire someone to work for you and you're going to pay them over $600 and they're not a large corporation like Home Depot or Walmart, then you also want to give them this form as a way to request their information for taxes, including their tax number. When you fill out this form, you have to take a look at your business. If you are an LLC, that LLC is a legal type of business for taxes. You may be aware that your LLC is a disregarded entity. What that really means is that the IRS has not created...
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Video instructions and help with filling out and completing Fill Form 8854 Electing
