Why Does A Sole Proprietor Need To Get An EIN?

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If you want to apply for an EIN for sole proprietorship, the team at IRS-EIN will be able to answer any of your questions. Their talented staff has helped professionals across a variety of business types, so you know they can handle your needs.

The Ins and Outs of the EIN Application:

The EIN is a nine-digit number assigned by the IRS for tax filing and reporting purposes. The EIN number application can easily be filled out on the IRS-EIN website. IRS-EIN makes the process simpler, as you can access the application anytime.

You will need this number throughout the life of your business. When you are starting out, you will need to fill out the EIN application. You will need this number to establish credit and secure financing for your business. As you get set to hire new employees, you will also need an EIN.

When Does a Sole Proprietor Need to get an EIN?

There are several reasons why a sole proprietor needs to have a state EIN number. If you are taking over an existing business or incorporating a limited liability corporation, you will need to have an EIN. The EIN is perfect for your future, as it can help you secure a 401k or Keogh retirement plan.

The EIN is ideal if you are trying to protect your identity. The EIN offers protection against identity theft that the social security number does not. Having an EIN allows you to avoid having to provide a social security number to clients.

IRS-EIN should be contacted first when it comes time to apply for an EIN for sole proprietorship. They can take the hassle and guesswork out of the EIN application process. Contact them today to achieve your personal and professional goals.

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