When you own your own business, there are a lot of responsibilities. Often that has to do with customer service, staffing and payroll. However, even if you have a small business with few, if any, employees, there are things to remember. Most of these have to do with keeping your tax records current. Read on to learn more.
Starting a New Business
Many new business owners immediately wonder if they have to file paperwork with the state in which they live. The answer, of course, is yes. However, don’t be intimidated, because the paperwork is easy to do, and irs-ein-tax-id.com makes it even simpler. No matter which U.S. state or territory you live in, you will be required to order a state tax ID, also known as an employer identification number (EIN). Happily, this is an easy process. Just log on to irs-ein-tax-id.com, choose the tax classification of your business, fill out the IRS SS-4 online, and submit it. You will receive an EIN that same day, and in many cases, within an hour of your submission. In the event that you submit it after 9 p.m., you’ll receive your EIN on the next business day.
Moving to a Different State
If you are moving to a different state, you will also need to submit paperwork to your old and new state of residence. You can continue to do business in your old state and file as a foreign entity doing business in your new state. However, it is more common to close your business in your previous state and apply for a tax ID in the new one. Either way, the process is simple and quick, and your decision.
Whether you are starting your own business or changing things up and taking it to a new state, irs-ein-tax-id.com can help you keep your records up to date and in compliance in almost no time. Isn’t that worth it?