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My clients payroll service WILL NOT pay a single person LLC…

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My clients payroll service...

My clients payroll service WILL NOT pay a single person LLC which I am. Can I put down that I am an LLC of the w9? and if so which tax classification should I use?

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

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Submitted: 3 months ago.Category: Tax
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3/20/2018
Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 3 months ago
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,606
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Hello!

My name is***** will assist you today.

Please give me one moment while I review your question and type my initial response

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Tax Professional: Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional replied 3 months ago

A single member LLC can not be paid with a W2 payment. Is this what the client is attempting to do?

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Customer reply replied 3 months ago
no its a w9
Customer reply replied 3 months ago
this is what they sent me
Customer reply replied 3 months ago
hello?
Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,178
Experience: 15years with H & R Block. Divisional leader, Instructor
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You complete the W9 as follows depending on what designation (if any ) you made fo rthe LLC to be taxed:

If your LLC has elected to be taxed as an S corporation (by filing IRS Form 2553), the LLC’s tax status is “S corporation,” so check “Limited Liability Company” and write S in the blank to the right.

If your LLC has elected to be taxed as a C corporation (by filing IRS Form 8832), the LLC’s tax status is “C corporation,” so check “Limited Liability Company” and write C in the blank to the right.

If your LLC has one owner, the LLC’s default tax status is a disregarded entity. A disregarded entity is any business that is considered separate from its owner for legal purposes but not for taxation. If a single-member LLC does not affirmatively elect to be taxed as a corporation, it will be taxed as though the business is a sole proprietorship.

To complete this portion of the W9, fill in your personal name in the Name block, your company’s name in the Business name block, your company’s address in the address block, and check the box labeled: “Individual/sole proprietor.”

Unless you requested to be taxed as an S corp or C corp you are still a sole prop for tax.

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Customer reply replied 3 months ago
Ok but my problem is that I CAN'T select Individual. They will not pay individuals.
Customer reply replied 3 months ago
What Can I put on my w9 that will NOT screw me down the line if i want to still pay my taxes as an individual.
Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago

You have to complete the W9 correctly. If you are going to request S corp status you can ***** *****ke that but then you will not be filing as a sole prop.

What you can put on the W9 is exactly as I explained.

Why did they hire your "company" then if they will not pay a sole prop?

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Customer reply replied 3 months ago
because they are only the payroll service not the company I am working for.
Tax Professional: Robin D., Senior Tax Advisor 4 replied 3 months ago

I have explained your options. I cannot ethically tell you how to work around their problem by falsely making a claim on the W9.

Tick LLC as that is what you are.

A positive 5 star rating is appreciated so I am credited

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