alright. on the w-9 form under taxes. when you click to backhold withholding and it says google take 28% percent out to pay to the irs. do you just have to put a check in that box and then i dont have to pay any taxes out of wallet later on cause google subtracts it automatically and gives it to the irs like with job. thanks, cody
That does not necessarily mean that you won't have to pay any taxes out of wallet, based on your tax bracket you may have to pay more or less. But don't forget you may also have to pay Social Security and Medicare taxes of around 15%(assuming your in the U.S.A.). I put together a little site last year http://www.adtaxes.com, this might help you understand it a little better.
Check here if you have been notified by the IRS that you are currently subject to backup withholding because you have failed to report all interest and dividends on your tax return. ! If you check the above option, Google is required to withhold 28% of your earnings to be paid to the IRS thats what it says on the tax request sheet