Employer Wants me to fill out a W9

[computermaniac]

So I got hired working for this company. I work at hope for now but will probably work in an off site office in the near future. For some reason they want me to fill out a W9 tax form which I'm not familiar with.

From what I know, %10 more taxes will be paid at the end of the year, and I have to manually do this.

From what I've read it seems like something for independent contractors.

Should I just fill it out, I'm not good with this stuff but it seems kinda weird.

[cwolv]

W-9 is so they know what personal info to put on your W-2, and for selecting how many exemptions you are claiming. It is a normal part of the hiring process.

[Keven]

Yes, it is just for personal information, but if they are giving you a W-9, that means that you'll be considered a freelance or contract employee.

I've worked a freelance writer for the past few years - yes, you will be required to pay more taxes.

You will have to pay the employer's share of both the Medicare and Social Security tax.

They also may be paying you your whole income and not withholding anything for taxes. This means that you will have to save for yourself and put money aside for taxes at the end of the year.

[cwolv]

http://taxes.about.com/od/taxglossary/qt/W9.htm

[Brandito]

depending on the type of work this is a somewhat shady process IMHO.

not that it's illegal, but it's rarely for the benefit for the "employee" which you'll hardly be since you're being sub-contracted.

[computermaniac]

Well I thought I was going to get 20 an hour so I was ok with it at first. But I'm working around 12 hours a day, everyday, and I'm not getting over time. Now I have to pay more taxes and put more work into paying them.

What can I even do though, ya know?

[shredder]

you can tell your employer that you want to be paid time and a half for overtime or you cannot work overtime hours.

or you could call the labor board in your state and ask them if your company is operating legally. they will keep your information confidential.

[Keven]

depending on the type of work this is a somewhat shady process IMHO.

not that it's illegal, but it's rarely for the benefit for the "employee" which you'll hardly be since you're being sub-contracted.

Well, I think it depends. As a freelance writer, I've always been paid like this and always paid the self-employment tax.

But if you're expecting to be a "regular" employee and the employer wants you to fill out a W-9 and be a contractor, then they're probably just trying to get out of paying their share of the FICA payroll tax.

[Brandito]

Well, I think it depends. As a freelance writer, I've always been paid like this and always paid the self-employment tax.

But if you're expecting to be a "regular" employee and the employer wants you to fill out a W-9 and be a contractor, then they're probably just trying to get out of paying their share of the FICA payroll tax.

indeed, i'm positive there's a time and place! i've heard of 1099 workers being screwed many times though. usually they just haven't educated themselves on what it means and it sounds like a good deal, until the tax man comes collecting!