A frequent question that gets emailed to us at least every week. Good question by the way
Form SS-4 & Employer Identification Number (EIN)
Question: Does a small company need a tax ID number?
Answer: A sole proprietor who does not have any employees and who does not file any excise or pension plan tax returns does not need an employer identification number. In this instance, the sole proprietor uses his or her social security number as the taxpayer identification number.
* If you are the sole owner of an unincorporated LLC (Limited Liability Corporation) that has employees you now need to get a separate EIN to file employment taxes for tax years starting on or after January 1, 2009.
You should contact a tax preparer for some extra tax advise as to added deductions.
Tax ID Numbers – Small Business – Do I need a taxpayer ID number or EIN?
Filed Under: IRS Tax Advice
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