As we all know... Identity Theft is a huge concern these days and protecting ourselves takes many steps.
Below is a must read in this digital world of protecting our personal accounts.
Click on the book cover to review or purchase.
I wanted to share this easy but useful way to protect your personal social security number in your business.
Many times when we first start a business we wing it and file our taxes under our social security number BUT by getting your own TAX ID or EIN number which is your Federal Tax ID, you can STOP using your most valued personal information and use your EIN instead on:
- Affiliate Market Programs
- Direct Sales
- Online selling
- Independent Contracting
- Selling Online like Ebay and Amazon
If you missed my Press Release on Paying Taxes for your online business you can read it below
I applied for my EIN number over 10 years ago and I use it for every business transaction while working any of my businesses.
I also have my businesses registered with my state and have a business license for each of my businesses.
The nice thing about your own Federal Tax ID number is, you can use it for every business you have.
Here is an example:
Business A has its own business license and it was the first business where I applied for my EIN.
Business B is my second business (which is my staffing business) with my own business license is using the same EIN I received 8 years prior.
Business C is my new online business where I applied for my business license and again I am using the same EIN.
I worked for many companies as an Independent Contractor when I was a real estate appraiser and when I was a Mystery Shopper. I always used my EIN (which still identifies me for my taxes) on all applications.
If you would like to apply for your own EIN number, simply follow the prompts on the
IRS website below
The best website I use all the time is Legal Zoom
If you wanted to get a package deal with your business license and EIN they have everything you need to get up and running and it only takes a few weeks.
IMPORTANT NOTE: When you first get your EIN you will have to file quarterly until the IRS sees the number of sales or income you are making. They will readjust accordingly to every 6 months or even a year after you have your number for a full calendar year.