W-9 ( SSN vs TIN vs Fed EIN )

Hello all,

The SSN is one area to vastly lose control of your identity and widely misused.
As per IRS, any payments over $600 per year must be reported on 1099 Misc.
So going by this argument, Is it necessary to provide my SSN to every person or entity that requests w-9 for payment , if the entire years work is under $600. or even for just a one time payment of $75

I have rejected the request of w-9 and demanded payment and obtained it, when i said that they are paying me under $600 and hence not required to have my SSN. Of-course one can always provide FED EIN

Can we request TIN from IRS to provide instead?

You can get a TIN or FEIN online at irs.gov - takes about 5 minutes. Then you use that for all your business transactions - you can provide a W-9 to all who contract you (which is standard). Never ever provide your personal SSN to anyone.

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As per IRS
Form W-7, Application for IRS Individual Taxpayer Identification Number
Use this form to apply for an IRS individual taxpayer identification number (ITIN).

An ITIN is a nine-digit number issued by the U.S. Internal Revenue Service (IRS) to individuals who are required for U.S. tax purposes to have a U.S. taxpayer identification number but who do not have and are not eligible to get a social security number (SSN).

So If i already have SSN, what then? It seems I have to provide them to all those shadysigning services, who i am hoping are not so shady after all. :relieved:

I flat out refuse giving out W9 to anyone who has not given me a signing business and when payment is not expected. Some accept that argument, some don’t and insist on it. So I yield.

Any thoughts how to safeguard ones SSN.

“Any thoughts how to safeguard ones SSN.”

Get one in your business name! You’re applying for your business…not for you personally. All of your business matters should be conducted through your business. That’s what the FEIN or TIN is for - your business…your SS# is you personally.

hello, that is if you make less than $600.00 annually.

“hello, that is if you make less than $600.00 annually.”

Can you clarify what you mean here please?

LindaH,

I responded to notary_narayan. I forgot to put her name.

I worried about that also. So I formed an S Corp with its own tax id and pay all my expenses I can out of business (auto payment ins gas health insurance etc) I pay my self a salary (w-2) and a quarterly draw based on performance huge tax saving (this my own personal situation I don’t give out tax advice) because the draw is not a wage it’s taxed at a lower rate And I don’t have to keep up with the number of stamps for non self employment tax reporting The initial setup was a little pricy but the tax savings is huge. And no one has my Ssn except HR. Which is me.

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As Linda said, EIN is the way to go on W9. Just send it and don’t give 'em a hard time. From their POV, they have to send out 1099 if a party earns more than $600–and nobody really knows that until crunch time. (Can you imagine the need to track down even 50 notaries for their ID# so you can send them the REQUIRED 1099?) Make their lives easier now and they may remember you favorably. Also be aware that you will get 1099s with incorrect amounts. Don’t sweat that as YOU must pay YOUR taxes based on YOUR provable records.

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Linda, you always have good answers! NEWBIES, go online to irs.gov and get an EIN (Employer Identification Number) for your company. Use that number on your W-9s. Prevent fraud whenever possible - that has been the mission statement for notaries since ancient times.

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Hi, mrsjantoine. A 1099 is issued by a client (signing service, title company, etc) for a contractor (notary, signing agent) only if that client has paid the contractor MORE that $600 in a calendar year.

Hope this helps!

Super cool, Nick! May I ask in which state you incorporated? I’m looking at doing something similar…

As a Notary is an individual licensed in the state, I assume you would follow that by logic.
Unless you have other businesses that wants to form a foreign corporation in other states or delaware
Now to get a FEIN ( its just as simple as sending an IRS form and getting a EIN number ) The EIN can be associated with an individual as a proprietorship , partnership, LLC, S or C Corp , Non Profit etc

I do give my SSN because I have a LLC and they combine my Personal with my Business Taxes, you provide a spreadsheet of your expenses, etc. I never had a problem with IRS. I also have a Photography Business. My Tax Prep does include all the necessary documents.

Then your LLC should have an FEIN, not your SSN There should also be a separate one for your Photography business - and a good CPA/tax preparer would be able to separate them out properly.

I’ll only speak to a notary business - you should NEVER give your SSN out to ANYONE…period. That’s identity theft just looking to happen.

My Notary is a Fictitious name under my Photography business, but you are right. I will change that. Thank you for your feedback!

FYI…a 1099 can be issued by a company you do work for even if you made under $600 for the year. Most wont send you one, but, If you make more than $600, the company MUST send you a 1099.

I have always provided a W-9 when requested by companies, but I never include my SSN on the form. And it has never been requested a second time.

Vendor Pay at Snapdocs doesn’t allow EIN numbers, you have to give your SS number or you can’t sign up. I had several back and forth e-mails with Felicia and they are not changing their policy.

I did it completely online. It took less than 5 minutes.

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