w-9s

4 smokin butts · 08-28-2012, 09:59 PM

just couious ,contest this past weekend,gave u empty envelope with form inside at awards,fil it out or no check.......every call,,,,100.00or 300. 00.....so team winning 100.00 hadto fill out w-9 to get paid kcbs web says 15,000.00 in cash?????

Diva · 08-28-2012, 10:18 PM

I'm not following what you're saying. We've cooked contests that have W-9's in the envelope. Usually have one filled out in my purse to hand over immediately and the check is mailed. What's the dealio, Bro?

4 smokin butts · 08-28-2012, 10:32 PM

just heard rumbling,we won 100.00 fill out irs papers???/ thought 600.00 was paper time.... many contests cash ...green stuff... raytown cash,not sure on rgc or gc .... just saying,cash is cash ......this weekend states at quapaw w-9 is filled out with app.........ok organizer ,when approched on suggistions,i mentioned forms,.....he went off on me.....now were doingsomthing illleagle wanting cash.....if they only new what we spend comming to there city

huminie · 08-28-2012, 10:50 PM

They can require it for any amount, but the $600 point is where they are required to send you a tax doc at the end of the year.

It shouldn't really matter since you are reporting it on your taxes whether it is cash or check anyway, right? I mean, it would be illegal to not report earnings. You can always claim expenses to offset the winnings so you don't pay tax on it, but you have to report it either way.

Getting cash saves you the hassle of filling out the form, but it still needs to be reported.

caseydog · 08-28-2012, 11:05 PM

Being self employed, I keep a signed W-9 on the computer to send out to my customers. It is necessary for payers in order for them to file a 1099 in January. It is standard practice -- just do it. It is the law, and it is incredibly easy.

You can use your costs as deductions. It's not that hard to figure out. Keep you receipts -- or not, and bitch and moan about your taxes. Seriously, it is not a big deal if you took the time to keep decent records. I do my own taxes with Turbo Tax, and I get it done in a few hours.

CD

djqualls · 08-29-2012, 02:08 AM

The Quapaw deal is a casino regulation. Hope to meet you if you are going!

Balls Casten · 08-29-2012, 05:46 AM

I agree, I'm uncomfortable handing my social over to someone that is placing it on an unknown computer.
At Ames we were asked to fill one out when we entered. No problem if you win something but to ask for it ahead of time is a bit much.

dhuffjr · 08-29-2012, 06:50 AM

They asked for it in Marietta Ohio. When I called questioning them I was told it would be okay to fill it out on Saturday if needed.....and that the past winners had declined to turn it in early. I took that as a clue to not submit a form in advance LOL We didn't win but we didn't do too bad either.

Teamfour · 08-29-2012, 07:15 AM

Quote:

Originally Posted by Balls Casten

I agree, I'm uncomfortable handing my social over to someone that is placing it on an unknown computer.

Me too, that is why I obtained an Employee Identification Number (EIN) from the IRS. Easy to get and free, and it eliminates the need to provide a SSN.

glenntm · 08-29-2012, 08:34 AM

I'd say more that 1/2 of the events we entry have you fill one out when you arrive or before awards. We use the LLC ID number.

weatherman · 08-29-2012, 09:19 AM

Ok.. what if you have a sponser who buys stuff or donates meat or something like that. You can't write that off on your taxes and some people won't give you their information for you to turn in to get that check sent to them? some of the expenses go to the competitor while others go to the sponsor. some sponsors might take up all the expenses. How do they get the check then?

tyotrain · 08-29-2012, 11:16 AM

My team is not a LLC or anything like that it's just a BBQ team. My ? Is can I still keep my recites and clam it as a expense? Kind of new to this. Should I keep any other records or just recites that I spend on the team?

Have fun and happy smoking
BBQ UP

caseydog · 08-29-2012, 11:26 AM

Quote:

Originally Posted by tyotrain

My team is not a LLC or anything like that it's just a BBQ team. My ? Is can I still keep my recites and clam it as a expense? Kind of new to this. Should I keep any other records or just recites that I spend on the team?

Have fun and happy smoking
BBQ UP

You do not have to incorporate to write off expenses as a "business." Just set yourself up as a "sole-proprietor," and keep track of your winnings and expenses. Now, if your expenses exceed your winnings for every year, it could be a red flag for the IRS. A business that loses money year after year will eventually look suspect.

CD

Balls Casten · 08-29-2012, 12:06 PM

Im no account so easy on this advice ...
Use a credit card for you bbq expenses then should you win something big and you or your tax guy need recepts you can go back and get them.

tyotrain · 08-29-2012, 12:17 PM

Quote:

Originally Posted by Balls Casten

Im no account so easy on this advice ...
Use a credit card for you bbq expenses then should you win something big and you or your tax guy need recepts you can go back and get them.

My ? Is do I have to set up a sole proprietorship to do that.

Have fun and happy smoking
BBQ UP

08-28-2012, 09:59 PM	#1
4 smokin butts Full Fledged Farker Join Date: 09-21-10 Location: millstadt il.	w-9s just couious ,contest this past weekend,gave u empty envelope with form inside at awards,fil it out or no check.......every call,,,,100.00or 300. 00.....so team winning 100.00 hadto fill out w-9 to get paid kcbs web says 15,000.00 in cash?????

08-28-2012, 10:18 PM	#2
Diva is one Smokin' Farker Join Date: 05-30-07 Location: Kansas City, MO	I'm not following what you're saying. We've cooked contests that have W-9's in the envelope. Usually have one filled out in my purse to hand over immediately and the check is mailed. What's the dealio, Bro? __________________ Steph www.TheSlabs.com

08-28-2012, 10:50 PM	#4
huminie is one Smokin' Farker Join Date: 07-11-10 Location: Gilroy, CA	They can require it for any amount, but the $600 point is where they are required to send you a tax doc at the end of the year. It shouldn't really matter since you are reporting it on your taxes whether it is cash or check anyway, right? I mean, it would be illegal to not report earnings. You can always claim expenses to offset the winnings so you don't pay tax on it, but you have to report it either way. Getting cash saves you the hassle of filling out the form, but it still needs to be reported. __________________ 2011 CBBQA Rookie ToY - 6th Overall, 2012 American Royal Invitational - Huminie's Hogalicious BBQ

08-29-2012, 05:46 AM	#7
Balls Casten is One Chatty Farker Join Date: 01-04-09 Location: Johnston, Ia	I agree, I'm uncomfortable handing my social over to someone that is placing it on an unknown computer. At Ames we were asked to fill one out when we entered. No problem if you win something but to ask for it ahead of time is a bit much. __________________ Specialization in bipolar, self-injury, and OCD

08-29-2012, 06:50 AM	#8
dhuffjr Full Fledged Farker Join Date: 10-16-07 Location: Ohio	They asked for it in Marietta Ohio. When I called questioning them I was told it would be okay to fill it out on Saturday if needed.....and that the past winners had declined to turn it in early. I took that as a clue to not submit a form in advance LOL We didn't win but we didn't do too bad either. __________________ Scramblin Eggs BBQ Team....Two Eggs and a backwoods...bbq diversity....

08-28-2012, 10:32 PM	#3
4 smokin butts Full Fledged Farker Join Date: 09-21-10 Location: millstadt il.	just heard rumbling,we won 100.00 fill out irs papers???/ thought 600.00 was paper time.... many contests cash ...green stuff... raytown cash,not sure on rgc or gc .... just saying,cash is cash ......this weekend states at quapaw w-9 is filled out with app.........ok organizer ,when approched on suggistions,i mentioned forms,.....he went off on me.....now were doingsomthing illleagle wanting cash.....if they only new what we spend comming to there city

08-28-2012, 11:05 PM	#5
caseydog somebody shut me the fark up. Join Date: 07-08-10 Location: Texas	Being self employed, I keep a signed W-9 on the computer to send out to my customers. It is necessary for payers in order for them to file a 1099 in January. It is standard practice -- just do it. It is the law, and it is incredibly easy. You can use your costs as deductions. It's not that hard to figure out. Keep you receipts -- or not, and bitch and moan about your taxes. Seriously, it is not a big deal if you took the time to keep decent records. I do my own taxes with Turbo Tax, and I get it done in a few hours. CD

08-29-2012, 02:08 AM	#6
djqualls Full Fledged Farker Join Date: 03-08-10 Location: Tecumseh, OK	The Quapaw deal is a casino regulation. Hope to meet you if you are going!

08-29-2012, 08:34 AM	#10
glenntm On the road to being a farker Join Date: 04-13-10 Location: Chandler, AZ	I'd say more that 1/2 of the events we entry have you fill one out when you arrive or before awards. We use the LLC ID number. __________________ I.A.B. 30 BBQ Chandler, AZ

08-29-2012, 09:19 AM	#11
weatherman Got Wood. Join Date: 12-06-10 Location: Edenton, North Carolina	Ok.. what if you have a sponser who buys stuff or donates meat or something like that. You can't write that off on your taxes and some people won't give you their information for you to turn in to get that check sent to them? some of the expenses go to the competitor while others go to the sponsor. some sponsors might take up all the expenses. How do they get the check then?

08-29-2012, 11:16 AM	#12
tyotrain is one Smokin' Farker Join Date: 04-09-12 Location: Madrid, NY	My team is not a LLC or anything like that it's just a BBQ team. My ? Is can I still keep my recites and clam it as a expense? Kind of new to this. Should I keep any other records or just recites that I spend on the team? Have fun and happy smoking BBQ UP __________________ LOCKED-N-LOADED BBQ TEAM follow us at. https://www.facebook.com/LLB.BBQ

08-29-2012, 12:06 PM	#14
Balls Casten is One Chatty Farker Join Date: 01-04-09 Location: Johnston, Ia	Im no account so easy on this advice ... Use a credit card for you bbq expenses then should you win something big and you or your tax guy need recepts you can go back and get them. __________________ Specialization in bipolar, self-injury, and OCD