Why you need an EIN number for your business
Why you need an EIN number for your business
Want to know what the very first thing I teach my clients when they start a business?
That you need an EIN number? I did a rant post on Facebook this week. I have been collecting W9s from my client’s vendors, and I was shocked at how many W9s I saw from people operating a business who had their Social Security Number on their W9!
What is that, you ask? Well, it’s like the Social Security Number for your business. The EIN (Employer Identification Number) is issued by the IRS and it is the number that identifies your business. You need this number to get a business checking account, and register your business with your state.
You use this number instead of your own personal Social Security Number when filling out W9s or any other paperwork about your business. This keeps your SSN safe and secure.
It’s super easy to get your EIN number. Simply go to the IRS website and register for one online.
https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
Here’s a link to my rant in my Facebook group. If you’re not a member, I invite you to join!
Facebook.https://www.facebook.com/groups/moneymavenscreatingmoneymagic/
If you don’t have an EIN yet for your business, get one now!!
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