Did you sign up with a SS or EIN?

[aim high]

I'm curious.

 

[r3p1v]

ein / tax id

 

[erect]

Is there some kind of prize for most threads started that I don't know about?

 

[nachoninja]

^^

you get 2 internet points for each thread you start with a poll

 

[gkgk11]

why does it even matter?

 

[Cut]

^^

you get 2 internet points for each thread you start with a poll

I thought it was 3

 

[jvincent]

the 3 point lines too far away from the basket; hard to make good posts from that far away. people just shoot these shitty 2 point posts.

 

[bprimeelite]

if you want taxed personally SSN
if you want taxed as a business EIN

I think it is pretty self explanatory. A lot of times EIN is better because then you can write off a lot more stuff that really has nothing to do with your business.

 

[kimboslice]

if you want taxed personally SSN
if you want taxed as a business EIN

I think it is pretty self explanatory. A lot of times EIN is better because then you can write off a lot more stuff that really has nothing to do with your business.

cha ching.

 

[kblessinggr]

if you want taxed personally SSN
if you want taxed as a business EIN

I think it is pretty self explanatory. A lot of times EIN is better because then you can write off a lot more stuff that really has nothing to do with your business.

And the "Uh Duh" awards goes to...

 

[bprimeelite]

Ha yeah after I posted it and read the first question again I kind of realized how stupid it was. But hey I explained it in a duh way so people will quit posting things about it.

 

[AdHustler]

EIN always

 

[andyt]

I sign up with my EIN, before I had an EIN I used my SSN.

 

[pharmhand]

if you want taxed personally SSN
if you want taxed as a business EIN

I think it is pretty self explanatory. A lot of times EIN is better because then you can write off a lot more stuff that really has nothing to do with your business.

False.

I prefer EIN to SSN because it provides a bit of identity theft protection in that fewer people have a hold of your SSN that way.

 

[hyperion]

If I reg. my business and get an EIN, does that mean I don't have to pay SS tax?

 

[bprimeelite]

No you still have to pay it....actually both sides of it. I think there is a way around it but it is tough.

 

[toppymoney]

So is it better, for financial reasons to stick with using and SSN to avoid taxes? At what point should you switch to EIN (income wise)?

 

[satoshi]

I use my EIN and have formed an LLC.

But don't take tax advice from internet messageboards. An EIN won't save you anything on taxes if you're a sole proprietor...you will still be taxed as a sole proprietor. If you're an LLC or S-Corporation, it's mandatory to have an EIN, so use that.

There is no legal way to get around paying social security, whether it's done through FICA or self-employment tax. I assure you.

I suggest you get an accountant and/or lawyer and discuss whether an LLC or S-Corp is right for you. Sole proprietorship is fine for the beginning, but that's it...if you want to get an EIN so affiliate programs and networks can't see your SS#, go for it. But the EIN has nothing to do with tax savings.

 

[turpentine]

you could incorporate with an awesome business name and get it put on your credit cards and use it to impress the checkout girl.

 

[aim high]

False.

I prefer EIN to SSN because it provides a bit of identity theft protection in that fewer people have a hold of your SSN that way.

this is why i ask.