Sorry I never saw an alert about this question ... you will not need to fill out a W4 ever for self-employed work. W4 is *only* if you are hired as an employee. So all you need is a W9, and you'll receive a 1099-Misc if you earn $600 or more in a calendar year. You use the information on the 1099-Misc to fill out your annual tax return.I've done a lot of research about these taxes and would like to know if I have the right idea...
Alright, so before my videos can be set up for monitization I have to fill out a W9 which is to give my employer my TIN. Given that I receive more that 600$ in a year I need to fill out a W4 to set to the IRS and to my employer, and I should expect to receive a 1099-MISC in the mail from my employer, not a W2 because I wouldn't be considered an employee of YouTube. This 1099-MISC would already be filled out my employer, and it isn't for me to fill out. Lastly, I should not be receiving the cover page of the 1099-MISC which is the 1096-MISC because that is only to be received by the IRS.
Did I get this right? Also, I still need to learn about the 1040, can anyone give me information concerning that? Thanks! =)
It's understood. Thank you for the information.Sorry I never saw an alert about this question ... you will not need to fill out a W4 ever for self-employed work. W4 is *only* if you are hired as an employee. So all you need is a W9, and you'll receive a 1099-Misc if you earn $600 or more in a calendar year. You use the information on the 1099-Misc to fill out your annual tax return.
Yeah, although I can't say I've done it myself. I have an accountant that helps me do my taxes (most of my 1099 income comes from my business, not YouTube).It's understood. Thank you for the information.
If I understand correctly, I use the information on the 1099-MISC to fill out the 1040 form; right?
Alright, thank you for your help! I'll continue to look for more information on taxes; again, thanks for your help!Yeah, although I can't say I've done it myself. I have an accountant that helps me do my taxes (most of my 1099 income comes from my business, not YouTube).
After doing a lot of research, I had another question.Yeah, although I can't say I've done it myself. I have an accountant that helps me do my taxes (most of my 1099 income comes from my business, not YouTube).