Are there any disadvantages to attaining an EIN . . . - Reddit What I've recently found out and starting a business is that I can go to the IRS website and attain my Ein before I incorporate I don't plan to do business as far as selling my product before incorporating, but attaining an EIN first allows me to get my business bank account setup
Do I need an EIN Tax ID number when I’m JUST . . . - Reddit You don’t technically need an EIN if you don’t plan to hire employees, but you should get one anyways because it only takes 5 minutes, you can do it all online, and it is completely free
Is there any reason to get a federal or state EIN if . . . - Reddit Has anyone run into any issues where they NEED to get an EIN? One big concern of mine is banking I know some business-oriented bank accounts require that I have some official business documents in order to start a business bank account, but what documents would you even receive?
The guy at my bank suggested I get an EIN Number for . . . - Reddit If you're running your business as a sole proprietorship, an EIN ostensibly could give you some identity theft protection I don't think it's worth the hassle, but it wouldn't increase the complexity of your taxes so you shouldn't expect to pay more to have them prepared because of this
EIN vs SSN for sole proprietor LLC : r smallbusiness - Reddit EIN vs SSN will not have any difference for banking purposes It does not matter As a sole proprietor, LLC or not, you must personally guarantee all debts So it gets tied to your SSN anyway, even if you obtain and provide an EIN during the process
EIN and tax filing questions. . . : r smallbusiness - Reddit Questions and answers about starting, owning, and growing a small business only EIN and tax filing questions This may seem like a silly question but I recently started an LLC in which I'm the only owner No current employees but do plan on having them in the future
Pros and Cons of Getting an Ein - Luxwisp While there are many benefits to obtaining an EIN, including easier tax filings and increased credibility with vendors and customers, there are also some potential drawbacks For example, depending on your business structure and location, you may face additional tax implications or legal requirements when you have an EIN