Tim M Posted February 8, 2012 Report Share Posted February 8, 2012 So I'm having to track ppl down to get 1099's from them they are all asking for my SS number. Do you guys give out your SS number that often? I feel like I'm handing out to ppl I've barely worked with for a two day gig here and there...and I hate it... Tim Quote Link to comment Share on other sites More sharing options...
Michael McQueen Posted February 8, 2012 Report Share Posted February 8, 2012 thats another reason why i incorporated, so i give them that ID number instead of my social. but its pretty standard for 1099's to have to provide the payer with your social. usually i'd call them to give them that info, never over email. now i have a pdf w9 with my biz info and i include that pdf with my invoice for new clients. Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 thats another reason why i incorporated, so i give them that ID number instead of my social. but its pretty standard for 1099's to have to provide the payer with your social. usually i'd call them to give them that info, never over email. now i have a pdf w9 with my biz info and i include that pdf with my invoice for new clients. ditto Quote Link to comment Share on other sites More sharing options...
Jim Gilchrist Posted February 8, 2012 Report Share Posted February 8, 2012 I'm fairly certain sole proprietors and partnerships are eligible to apply for a TIN, not just corporations. And the process is free and fairly painless on-line. We did it for my wife's business a couple of years ago. Best regards, Jim Quote Link to comment Share on other sites More sharing options...
benr Posted February 8, 2012 Report Share Posted February 8, 2012 Get an EIN. Cheap and easy to do. LINK Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 True... you don't have to fully incorporate to get a TIN... however, EIN is an Employer Identification Number, and is usually used by employers who are paying wages to employees (ie: when one incorporates so as to avoid self-employment tax on top of income tax.) You pay yourself a wage (monthly, quarterly, even annually -- I think quarterly is less apt to raise red flags) and the rest of your corporation's income is either absorbed in operating costs, etc. or paid out in dividends, bonuses, etc. The down side is you have to file monthly / quarterly wage reports, and then file 2 sets of taxes at the end of the year -- one for the business and one for personal. Your accountant can advise you as to when it might be beneficial to fully incorporate. I put it off until my income was such that not incorporating would have cost me an additional $16k in taxes. If you just want to avoid giving out your SSN to everyone for whom you work in a given year, then just getting a TIN will suffice. ~tt Quote Link to comment Share on other sites More sharing options...
Jim Gilchrist Posted February 8, 2012 Report Share Posted February 8, 2012 I'm old and out of touch and the TIN I used to know and love is the EIN Ben has linked to. Same great number, same level of identity fraud protection. Still free. Best regards, Jim Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 I'm old and out of touch and the TIN I used to know and love is the EIN Ben has linked to. Same great number, same level of identity fraud protection. Still free. Best regards, Jim I thought I remember hearing that at some point, but wasn't sure -- thanks for clarifying Jim. That's what I get for adding a hasty reply without sufficiently researching the topic beforehand. And come to think of it, I did get my EIN a couple years before I incorporated... So, TIN = EIN... one and the same... still not necessary to fully incorporate to enjoy the benefits of having/using this # instead of a SSN. Sorry if I confused anyone : ( ~tt Quote Link to comment Share on other sites More sharing options...
Audio Daddyo Posted February 8, 2012 Report Share Posted February 8, 2012 Last year I had two production managers say that accounting would not except my EIN and would only pay me with my SS #. It was too much of a hassle to debate it so I relinquished and gave them my SS#. I need to ask my account to see if there are any circumstances why someone would not except an EIN. Andy Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 As I understand it, some payroll companies won't pay to an EIN for insurance reasons -- they need you to actually be listed as an employee (as opposed to an independent or sub-contractor) in order to satisfy their legal responsibility to have everyone working on the project covered by the production's insurance. I don't know how true this is, but like you said -- you can only argue with them so much. I've been asked for items beyond my EIN as well: Articles of Incorporation, proof of insurance (workers comp.) etc. ~tt Quote Link to comment Share on other sites More sharing options...
Eric Toline Posted February 8, 2012 Report Share Posted February 8, 2012 So I'm having to track ppl down to get 1099's from them they are all asking for my SS number. Do you guys give out your SS number that often? I feel like I'm handing out to ppl I've barely worked with for a two day gig here and there...and I hate it... Tim I have no problem giving out my SS# for payment. Been doing it for years and never a problem. Eric Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 I have no problem giving out my SS# for payment. Been doing it for years and never a problem. Eric I'm actually finding this preferable in many cases these days -- just to have the tax cushion at years end. A good mix of 1099 and W2 income seems to be the best way for me to avoid owing a huge chunk of jingy come tax time. To my knowledge, like Eric, I've never really had a problem with it (I assume the concern is identity theft, etc?) ~tt Quote Link to comment Share on other sites More sharing options...
old school Posted February 8, 2012 Report Share Posted February 8, 2012 Erics # is 0000 00 0001 CrewC Quote Link to comment Share on other sites More sharing options...
Audio Daddyo Posted February 8, 2012 Report Share Posted February 8, 2012 Identity theft is my concern and rather be safe then sorry. I have had a couple of close friends (not in our business) have to deal with identity theft and it is not a fun process. Andy Quote Link to comment Share on other sites More sharing options...
Eric Toline Posted February 8, 2012 Report Share Posted February 8, 2012 Erics # is 0000 00 0001 CrewC Damn Crew, now everyone will have it. Actually it's 1 as the 0 had not been invented yet. Eric Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 good point Andy Quote Link to comment Share on other sites More sharing options...
greg sextro Posted February 8, 2012 Report Share Posted February 8, 2012 I have fallen victim to some identity theft. Always give the number over the phone if possibe vs the internets just my .02 Quote Link to comment Share on other sites More sharing options...
Eric Toline Posted February 8, 2012 Report Share Posted February 8, 2012 Identity theft? Who would want to be me........wait....on second thought everybody want's to be me. Eric Quote Link to comment Share on other sites More sharing options...
Jim Gilchrist Posted February 8, 2012 Report Share Posted February 8, 2012 Last year I had two production managers say that accounting would not except my EIN and would only pay me with my SS #. It was too much of a hassle to debate it so I relinquished and gave them my SS#. I need to ask my account to see if there are any circumstances why someone would not except an EIN. Andy As I understand it, some payroll companies won't pay to an EIN for insurance reasons -- they need you to actually be listed as an employee (as opposed to an independent or sub-contractor) in order to satisfy their legal responsibility to have everyone working on the project covered by the production's insurance. I don't know how true this is, but like you said -- you can only argue with them so much. I've been asked for items beyond my EIN as well: Articles of Incorporation, proof of insurance (workers comp.) etc. ~tt For payroll purposes you must supply your Social Security number, unless you are working as a loan-out. The reason is that your EIN can't be used to credit money to your Social Security account. I've had payroll companies refuse to withhold the correct state tax when I'm working in an adjacent locality when the proper state forms accompanied my timecard (illegal), refuse to accept my passport as valid ID for purposes of an I-9 (illegal), refuse to pay me if I didn't provide copies of my drivers' license and social security card (illegal) and fail to report a re-rate and change of hours on my timecard (very illegal). CAPS has done 3 of these things and a PM for one of those 3 letter named commercial houses did the re-rate and hours change and I can't recall the payroll company involved. To get the changed timecard straightened out after 5 months, I had to call the company office and ask if "this Thursday would be convenient for my attorney and I to come by so he can take your deposition." I had the make-good check the next morning by FedEx. And it's snowing here, so hell yes I want to be Eric. Best regards, Quote Link to comment Share on other sites More sharing options...
RPSharman Posted February 8, 2012 Report Share Posted February 8, 2012 If they paid you under $600, they don't need to send you a 1099 at all. You are still supposed to claim the income on your taxes. If they didn't ask for your SS# on the day (via a W9 form) then they probably are "off book". You are still supposed to declare that income, but that's.... Robert Quote Link to comment Share on other sites More sharing options...
taylormadeaudio Posted February 8, 2012 Report Share Posted February 8, 2012 Great, the job I just finished went thru CAPS. Wouldn't it be great if they could all just pay cash? : ) Yeah Jim, it's snowing here too... Viva Las Vegas : ) ~tt Quote Link to comment Share on other sites More sharing options...
BudRaymond Posted February 8, 2012 Report Share Posted February 8, 2012 I've been asked for items beyond my EIN as well: Articles of Incorporation, proof of insurance (workers comp.) etc. ~tt In order to be paid as a loan out, it's not unusual to be required to provide Articles of Incorporation or Certificate of Formation, depending on jurisdiction. Workers Comp. is not required in order to be a Loan-Out Corporation. EIN and SSN are required to be paid as a Loan Out, since the employee is still working, mereley "on loan" from the listed corporation. If the Corp. is being paid as 1099, then legally there should not be any wages associated with the payment, only equipment rental. Otherwise, the Corp. would then be required to provide workers comp. insurance. Productions seem to be getting away from the practice of paying rates by 1099 though, in my experience. Quote Link to comment Share on other sites More sharing options...
stacysound Posted February 8, 2012 Report Share Posted February 8, 2012 If they paid you under $600, they don't need to send you a 1099 at all. You are still supposed to claim the income on your taxes. If they didn't ask for your SS# on the day (via a W9 form) then they probably are "off book". You are still supposed to declare that income, but that's.... Robert At which point you cash that check for less than $600 and buy your family dinners for the month... Quote Link to comment Share on other sites More sharing options...
stacysound Posted February 8, 2012 Report Share Posted February 8, 2012 1099's are due by Feb 15th. If they don't come, adjust your Schedule "C" accordingly. Quote Link to comment Share on other sites More sharing options...
Jan McL Posted February 8, 2012 Report Share Posted February 8, 2012 Erics # is 0000 00 0001 CrewC Snorted my tea, damnit Crew. Jan Quote Link to comment Share on other sites More sharing options...
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