LLC or Sole Proprietorship

Discussion in 'Ask An Owner Operator' started by Pup97, Mar 17, 2021.

  1. Accidental Trucker

    Accidental Trucker Road Train Member

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    The EIN is an “Employer Identification Number”, but it is used by many entities as a unique identifying number for businesses, much like a social security number for individuals.
     
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  3. Spyro2112

    Spyro2112 Medium Load Member

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  4. Zero Fox

    Zero Fox Bobtail Member

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    My question is do you file with your social and the EIN both on one return?
     
  5. ProfessionalNoticer

    ProfessionalNoticer Road Train Member

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    You'll file a 1040 under your social. Plus a Schedule C and whatever else depending on your tax year. As a Sole Prop, the IRS doesn't care about your EIN when you file your taxes.
     
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  6. Accidental Trucker

    Accidental Trucker Road Train Member

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    if you are a corporation, yes, a sole proprietor, no. (Unless in the firearms business or paying collected excise taxes).
     
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  7. Zero Fox

    Zero Fox Bobtail Member

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    Ok thanks! I am basically judgement proof for the foreseeable future so keeping it simple is going to work for me for a year or two anyway.
     
  8. Zero Fox

    Zero Fox Bobtail Member

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    Update: This is not my experience. It looks like I am to create an EIN for the sole proprietorship after all.
     
  9. abyliks

    abyliks Road Train Member

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    Only thing you really need an ein number for is filing highway use tax
     
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  10. Accidental Trucker

    Accidental Trucker Road Train Member

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    You’ll need it for a number of things, easy to get.
     
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