Ein taxes

wargamer6

Junior Member

Apr 13, 2008

190

47

• Aug 6, 2008

• #1

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?

 

yuppy

Regular Member

Apr 1, 2008

235

36

• Aug 6, 2008

• #2

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

 

wargamer6

Junior Member

Apr 13, 2008

190

47

• Aug 6, 2008
• Thread Starter Thread Starter

• #3

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.

 

bhnoobz

BANNED

Jul 26, 2008

394

113

• Aug 6, 2008

• #4

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

 

T

tbenny

BANNED

Jul 15, 2008

69

21

• Aug 6, 2008

• #5

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.

 

Uptownbulker

BANNED

Oct 21, 2007

682

516

• Aug 6, 2008

• #6

Anonymous corporations are nice too.