My old employer put in my W2 Form that I own the business. What can I do?
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My old employer put in my W2 Form that I own the business. What can I do?
I just got my W2 Form from my last job where we would get paid commission and hourly. My old employer put in my commission W2 Form that I own the business. We ended in bad terms. Can I claim the business or is he trying to make me look bad in any way? What are my options?
Asked on February 11, 2019 under Employment Labor Law, California
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, what the W2 says does NOT give you any rights to the business whatsoever; it is not a contract of sale or operating agreement or similar document. Speak to a CPA about the impact of this on your taxes; if it has a negative impact, the CPA will know how to correct or mitigate the impact. The W2 only affects taxes, so you just need to understand or deal with any tax consequences.
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