Small Business Taxes

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Old 04-17-2009
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Default EIN Confusion
I've chosen to open my business as a sole proprietorship and once I have momentum (and revenue) I'll change to an LLC. In the meantime, I'm confused about whether I need an EIN or not. I am extremely nervous putting my social security number on the W9, but according to the IRS, I don't qualify for an EIN.

Has anyone else experienced this & found solutions?

Teri
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Old 04-17-2009
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Default Re: EIN Confusion
Teri,
I am a DBA and I have an EIN. You do not have to be an employer to get it. File for it online and you'll have it in about 15 minutes.
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Old 04-17-2009
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Default Re: EIN Confusion
As a sole proprietor you are not required to have an EIN but I would suggest that you get one so that you do not have to give out your SSN.
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Old 04-17-2009
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Default Re: EIN Confusion
You can get an EIN (Employer ID Number) for your sole prop from the IRS here. There shouldn't be any problem getting one.
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Old 04-17-2009
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Default Re: EIN Confusion
Wow.. that was easy! (where's the easy button?) It took less than 15 minutes. Thanks so much!
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Old 04-17-2009
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Default Re: EIN Confusion
I think I was getting overwhelmed with the tax obligations & didn't think to just try getting one. Boy, was this easy to get.

Everyone mark this one in the miracle book - The IRS actually does have a painless process!!!

Thanks Lily for the quick link.

Teri
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Old 04-17-2009
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Default Re: EIN Confusion
That was awesome...if I had know it was that simple, I would have done this a long time ago!
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Old 04-18-2009
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Default Re: EIN Confusion
Thanks Teri for asking that question. I got mine today also, painless.. now all that paperwork I have to file, I will just change the numbers on it so nobody can get my SS number! Thanks for the link Lily..
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Old 04-20-2009
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Default Re: EIN Confusion
You are all very welcome! With identity theft on the rise, I use any excuse I can NOT to give out my SSN.
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Old 07-22-2009
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Default Re: EIN Confusion
Wow...that was really simple and fast. Thanks for the link and advice.
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