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#1 (permalink)   08-30-2008 Speed-E-Skills Contributing Member   Join Date: Aug 2008 Posts: 51 EIN and other ?'s... If I'm doing this all by myself (no employees, no partners, etc.), do I need to get an EIN? Do you know if I have to file for a sole proprietorship or can I just be me DBA Speed-E-Skills? Thanks for your help!

#2 (permalink)   08-30-2008 Rebecka Melson Resident Member Company name: Virtual Business Services   Join Date: Sep 2007 Location: Oklahoma, USA Posts: 1,118 Re: EIN and other ?'s... You do not need an EIN for a sole-proprietorship if you will not have employees, you would just use your social security number as your tax ID number. When you are a sole-p you use your individual name and therefore don't need to register with your state. However, to do business using a DBA name you would need to register the business name with your state. __________________ Rebecka Melson ~ Virtual Business Services

#3 (permalink)   08-30-2008 Speed-E-Skills Contributing Member   Join Date: Aug 2008 Posts: 51 Re: EIN and other ?'s... Oh, wow! That was a fast response! Thanks so much.

#4 (permalink)   09-02-2008 EliteBiz Junior Member   Join Date: May 2008 Location: Rochester Posts: 304 Re: EIN and other ?'s... I'm a sole P and I did get an EIN (it's free and fast to apply) because of the potential of clients having to fill out a 1099. I don't want my SS# available for others to see so to me it's a security issue. Just my two cents. __________________ Janice Correa-Elite Business Services "My Business is Your Business!" www.elitebusinessonline.com

#5 (permalink)   09-02-2008 Speed-E-Skills Contributing Member   Join Date: Aug 2008 Posts: 51 Re: EIN and other ?'s... I hadn't thought about that. Thanks for bringing that up.

#6 (permalink)   09-02-2008 Speed-E-Skills Contributing Member   Join Date: Aug 2008 Posts: 51 Re: EIN and other ?'s... Wow! That was so easy! I just applied for an EIN online and had it within seconds! I'm so excited! LOL

#7 (permalink)   09-03-2008 EliteBiz Junior Member   Join Date: May 2008 Location: Rochester Posts: 304 Re: EIN and other ?'s... Yep I was surprised as well! Especially considering it was the government you would think it would take WEEKS! But you can print official letters right away and use them to open your business bank accounts as well. Glad I could help! __________________ Janice Correa-Elite Business Services "My Business is Your Business!" www.elitebusinessonline.com

#8 (permalink)   09-06-2008 Cathy Contributing Member Company name: Reay Solutions My latest Twitter: Reminder: to set your clocks back   Join Date: Sep 2008 Location: Pennsylvania Posts: 82 Re: EIN and other ?'s... Jumping in a little late But have a quick question. Once you get an ein number don't you have to start filling quarterly taxes just like a business.

#9 (permalink)   09-06-2008 Rebecka Melson Resident Member Company name: Virtual Business Services   Join Date: Sep 2007 Location: Oklahoma, USA Posts: 1,118 Re: EIN and other ?'s... Originally Posted by Cathy Jumping in a little late But have a quick question. Once you get an ein number don't you have to start filling quarterly taxes just like a business. According to the IRS, everyone should pay their taxes on their expected taxable income, whether you have an EIN or not. There are a lot of variables here though because you have additional deductions at year end that will reduce your income further, so even though your books may show a profit you may have a loss on your actual tax return and wind up not owing any taxes. I would consult your tax preparer and have them provide you with your estimated taxes. __________________ Rebecka Melson ~ Virtual Business Services

#10 (permalink)   09-06-2008 Cathy Contributing Member Company name: Reay Solutions My latest Twitter: Reminder: to set your clocks back   Join Date: Sep 2008 Location: Pennsylvania Posts: 82 Re: EIN and other ?'s... thanks i will be calling my accountant on monday to get everythign straight