People, if you own a small business and you pay any company for anything that's not a box store,

you know, like if you're going to Walmart, Staples or whatever, that's a given.

But if you're paying any private business owner, business to business, for services or product,

you're going to ask for a W9.

That W9 is the key to telling you whether or not you issue them at 1099. He's trying to get

money in the 401k, but keeping his FICA down. And believe it or not, the IRS is on to this.

Would it make sense to have my ownership interest be owned by an LLC, taxes, an escort? In that

situation, would the IRS want my reasonable salary to at least be the

guaranteed payments received from the partnership, or can I have a lower salary and still

meet the reasonable comp threshold. Welcome, everyone, to the Main Street Business Podcast

with Mark Kohler and Matt Sornson. Excited for us today, The People's Show, open form,

where we're answering your tax and legal questions yes this is the people show i like that

nice take uh if you're new to the show someone's referred you here thank you for giving us a chance to

wow you we are both tax lawyers small business owners real estate investors we have a law firm and

a self-directed IRA company to help people self-direct the retirement accounts.

We've written books.

We've done this podcast for years.

We have millions of downloads.

And I'm just trying to wow you, people.

I want you to know you're in the right spot.

We're a believer in small business, Main Street, America.

We hate Wall Street.

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