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Employer Identification Number

 

Do you do business on the Internet? Are you thinking about it? If so, one of the first steps you need to take—or do right now if you're already doing business—is to get an EIN number from the IRS. Without obtaining an EIN, your finances can get a little confusing, but more importantly, you are opening yourself up to potential identity theft.

What is an EIN?

An EIN number from the IRS is like a social security number for your business. It's also called a "Federal Tax ID Number." Even if you are operating as just a sole proprietor, you can obtain an EIN from the IRS. Your EIN will be 9 digits long—something like 20-1234567.

How to and Why Use an EIN?

If you have ever joined any affiliate-type program, you know they ask for your social security number—as required by law for tax purposes. However, providing this information can lead to many problems. Once you give the company your social security number, they now have a complete personal profile on you, which could lead to identity theft.

How to Obtain an Employer Identification Number (EIN)

 

 

The main benefit of becoming incorporated is the limited liability status that incorporation affords the company’s owners. Personal liability of the owners is restricted to their capital invested. The primary disadvantages of incorporation are double taxation and the additional burden of statutory controls and record keeping. This article further discusses the advantages and disadvantages of becoming a corporate entity.

In the world of business, women are considered to be a minority regardless of their race. Many government contracts and business arrangements require that a minimum percentage of business transactions be handled using minority owned businesses. For this reason, getting a business certified as woman-owned can be advantageous and open up new markets for goods and services.

How to become a Women Owned Business

 

Increase your Income with a Home Business

Starting a business can provide you with an income you've only dreamed of. Starting a business can also be very rewarding. You get to be your own boss, and you can work from home. Many people have started businesses online and make a steady income from these businesses. How do they do it?

How to Make Money with a Home Business



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