Quote:
Originally Posted by Dadhawk
You'll have to include it in your taxable income next year, and you'll pay your effective tax rate on it for both federal and state (if you have it) just as if it was paid by your employer with no withholding.
So, really you are getting a deeply discounted trip, not a "free" trip. In my case, I'll effectively pay around 30% of the value with Fed/State taxes.
At least, that has been my experience in the past.
|
I understood that part from the earlier discussion and mention of 1099 & W2G. I just don't understand the particular role of W-9, unless it's just us giving our information to them.