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Old 08-06-2008, 02:03 AM
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Default Ein taxes

If I sign up for another EPN account signed up with an EIN instead of a SSN, can I just factor the the $$ into my normal taxes like I would with my ssn?
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Old 08-06-2008, 02:06 AM
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Default Re: Ein taxes

yes. it will be a sole proprietorship. you might want to get an account set up @ a bnak in your biz's name too.
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Old 08-06-2008, 02:13 AM
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Default Re: Ein taxes

I've already got a few HSBC Online savings account that I dump all my online earnings into since they have a high interest rate.
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Old 08-06-2008, 02:21 AM
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Default Re: Ein taxes

seek professional tax advice. don't count on bhw for tax advice lol
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Old 08-06-2008, 03:26 AM
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Default Re: Ein taxes

If you do sole prop, you will get hit with 40%+ taxes.. Bad idea. Talk to an accountant, form a corp.....
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Old 08-06-2008, 11:04 AM
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Default Re: Ein taxes

go llc, better protection of your personal assets over sole prop
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Old 08-06-2008, 12:14 PM
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Default Re: Ein taxes

Forming an llc does two important things, among others. First it protects your personal assets in the event your corp is sued. Secondly, as a corp you can divest yourself of your company through a stock sell-off, taxed at a rate of about 15 percent. Sixty percent savings. Many other good reasons to incorporate as well. Read some Bruce Berman. But remember, the taxes have to be paid. There is no black hat way out of them.
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Old 08-06-2008, 12:18 PM
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Default Re: Ein taxes

Anonymous corporations are nice too.
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