Completing your W9 Form

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The Wodify Support Team may request you complete a digital W9 Form, so we can ensure your Wodify Payments account is verified correctly. Submitting this form is crucial to ensure you receive all of your payouts accordingly via Wodify Payments (Stripe.)

This information will be used to generate a 1099K that is submitted to the IRS. It is important that this information matches what you are filing with the IRS. 

Information such as name, address, etc, should be provided on the form based on your gym's ownership structure. It's recommend you identify your ownership structure first, before filling out the other fields. Here is how you can help identify your ownership structure:

 

  1. Individual/sole proprietor or single-member LLC
  2. C Corporation or S Corporation
  3. Partnership
  4. Trust/estate
  5. Limited Liability company
  6. Other

 

How Can I Tell?

This information may be located on your SS-4 Form, and your formation documents. Should you not have these documents, please consult your tax advisor for this answer. Listed below is a brief explanation of each type:

 

  1. Individual/sole proprietor or single-member LLC - You are the only owner, and the activity is reported on your personal tax return
  2. C or S Corporation - The entity's activity is reported separately on an 1120 or 1120S tax return
  3. Partnership - The entity's activity is reported separately on a 1065 Tax Return
  4. Trust/Estate - If the trust files its own tax return, provide that information.
  5. Limited Liability Company - If your LLC files an 1120, 1120S, or a 1065, check this box and indicate C, S, or P
  6. Other - If none of these ownership structures apply to you please talk to your tax advisor about the correct way to fill out the W9.

 

If you unsure how you should confirm your ownership structure, please consult your tax advisor.

 

Once you have confirmed your ownership structure, here are some guidelines on how to fill out the remainder of the form:

Name (as appears on Tax Return) 

  • This is the return that the gym's activity is recorded on.
  • If this is your personal tax return (schedule C), please fill out your full name in this field. If the gym files its own tax return, please provide the name of the Entity filing the return.

Business Name

  • If you have provided your Personal Name, please provide the name of your single member LLC in this field.

Business Address

  • Please provide your business address. This is the address that the 1099 will be mailed to.

 

Next, enter your Tax Identification Number (TIN)

If you checked off Individual/Sole Proprietor or single-member LLC checkbox in step 3, please provide the Social Security number associated with the individual tax return.

 

If you checked any other box, please provide the EIN associated with the ownership entity.

 

 

 

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