To EIN or not to EIN

Be kinda nice if they didn't, though, wouldn't it?

 

It's free and takes 5 mins. I don't want my SS # being handed out every where also.

 

All true, except the IRS viewing the single member LLC as a "disregarded entity". You can file, for free, to have the LLC viewed as a S Corp for taxation purposes. Mine is that way. So while I am the sole owner, I am also a W-2 employee driver of the entity. So I get the best of both worlds, the regulatory ease of an LLC, and the tax advantages of the S Corp. I save thousands in taxes. All legal, no gray areas, no slight of hand nonsense that can trip me up later.

This article explains it better than I can....

http://www.bizfilings.com/toolkit/news/tax-info/llc-plus-scorp-equal-best-of-both.aspx

 

you defiantly want a ein even as a sole proprietor, much of the information you file for your company becomes public record you don't want your personal social security number to become public record.

 

Hello brother. Please update your reference. You DO need an EIN regardless of what entity you select to operate under. IRS does NOT allow anyone to use your Social Security to pay for taxes 2290. Heavy Highway TAX.

 

What kinda business did you have if you don't mind me asking?

 

I’m llc with ein

 

EIN or you’re not in

 

If you're forming an LLC then you'll have to have ab EIN as a LLC is a corp just like a S or a C corp is. You'd be better off starting out as an LLC and building up the company credit which you will have to back until the company proves itself to be a good credit risk. It's the simplest form of corp and will protect your personal assets.

 

get the ein. or you'll be sending broker contracts all over with your name address and S.S # on them. i don't see why anyone would even hedge on getting one. quick and free.