ACap ReCap: Financial and Tax Tips
ACap Advisors & Accountants is a boutique fee-only Wealth Management and full-service Accounting firm based in Los Angeles. We handle everything from taxes to investments to risk management and estate planning, providing comprehensive, unbiased financial advice in one location. In our ACap ReCap episodes, we discuss the latest financial news, answer the frequently received financial questions, and share financial tips with you. If you have questions or suggestions email us hello@acapam.com Find more details at https://www.acapam.com/ #financialadvisor #fiduciaryfinancialadvisor #finance #financial #money #wealthmanagement #assetmanagement #investment #tax #taxplanning
ACap ReCap: Financial and Tax Tips
The W-2, W-9, and W-4 Tax Forms Explained
Tax season can be confusing, especially when you're dealing with multiple forms like the W-2, W-9, and W-4. Each of these documents serves a different purpose, and filing the right one is crucial for ensuring your taxes are accurate.
A W-2 is issued by employers to report an employee’s earnings and tax withholdings for the year. If you’re a traditional employee, you’ll receive this form to use when filing your tax return. A W-9, on the other hand, is used by independent contractors and freelancers to provide their taxpayer identification number (TIN) to clients. This form helps businesses issue a 1099-NEC, which reports non-employee compensation to the IRS. Meanwhile, a W-4 is filled out by employees when they start a new job, allowing them to adjust the amount of federal tax withheld from their paychecks.
Understanding the differences between these forms ensures you stay compliant with tax laws and avoid potential issues down the line. In today’s episode, we break down each form in detail to help you determine which one applies to you.
At ACap Advisors & Accountants, we provide expert financial and tax guidance to individuals and businesses. As a full-service wealth management and CPA firm based in Los Angeles, we’re here to help you navigate the complexities of tax planning with confidence.
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