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Ein taxes

Discussion in 'Business & Tax Advice' started by wargamer6, Aug 6, 2008.

  1. wargamer6

    wargamer6 Junior Member

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    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?
     
  2. yuppy

    yuppy Regular Member

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    yes. it will be a sole proprietorship. you might want to get an account set up @ a bnak in your biz's name too.
     
  3. wargamer6

    wargamer6 Junior Member

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    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.
     
  4. bhnoobz

    bhnoobz BANNED BANNED

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    If you do sole prop, you will get hit with 40%+ taxes.. Bad idea. Talk to an accountant, form a corp.....
     
  5. tbenny

    tbenny BANNED BANNED

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    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.
     
  6. Uptownbulker

    Uptownbulker BANNED BANNED

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    Anonymous corporations are nice too.