| Posted By |
Message |
LIMOMx2
...
Member since 5/05 24989 total posts
Name:
|
Can I get a Federal Tax ID number without...
having an official business?
TIA
|
Posted 10/30/07 11:35 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource |
MichelleR
my Becks
Member since 5/05 1772 total posts
Name:
tracyg
|
Re: Can I get a Federal Tax ID number without...
I got one so I could sell at craft fairs that required a #. So I guess that's a yes, since I'm not a real business.
|
| Posted 10/30/07 11:37 AM |
| |
|
nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
|
Re: Can I get a Federal Tax ID number without...
You would use your SS #
|
| Posted 10/30/07 11:37 AM |
| |
|
TheWhiteRabbit
Thru the rabbit hole!
Member since 7/06 4412 total posts
Name:
|
Re: Can I get a Federal Tax ID number without...
Yes you can get a tax ID without an 'official' business. Here's the link to do it:
http://www.irs.gov/businesses/small/article/0,,id=102767,00.html
|
| Posted 10/30/07 11:41 AM |
| |
|
LIMOMx2
...
Member since 5/05 24989 total posts
Name:
|
Re: Can I get a Federal Tax ID number without...
Do I check off for banking purposes since I don't have a business name yet?
|
| Posted 10/30/07 11:48 AM |
| |
|
TheWhiteRabbit
Thru the rabbit hole!
Member since 7/06 4412 total posts
Name:
|
Re: Can I get a Federal Tax ID number without...
Posted by 5ofClubs
Do I check off for banking purposes since I don't have a business name yet?
FM
|
| Posted 10/30/07 11:52 AM |
| |
|
LIFamilies
Thanks for the memories DAD!
Member since 5/05 2267 total posts
Name:
LI
|
Re: Can I get a Federal Tax ID number without...
Just my $.02.
If you are going to operate any kind of business you should look into setting up an LLC (a corp is good too but an LLC gives you better protection). A properly set up LLC will protect your assets if in the event someone sues you and wins (never set up a one person LLC). Please keep in mind that when you are in business it's not "if" someone sues you - it's "when" someone sues you. Unfortunately this has almost become a way of life for businesses - being sued. No, it doesn't happen all the time and to everyone. But the number of businesses getting sued for ridiculous things is overwhelming. Which brings me to my next topic - business insurance. The most important thing to have this for is legal expenses. If your business gets sued the legal fees can get real crazy. Easily into the tens of thousands of dollars. Business insurance should cover yoru legal expenses. So please, protect yourself so if in the event of a mis-happening or what ever else, your passion doesn't turn into your nightmare.
|
| Posted 10/30/07 1:12 PM |
| |
|
LIMOMx2
...
Member since 5/05 24989 total posts
Name:
|
Re: Can I get a Federal Tax ID number without...
Posted by LIFamilies
Just my $.02.
If you are going to operate any kind of business you should look into setting up an LLC (a corp is good too but an LLC gives you better protection). A properly set up LLC will protect your assets if in the event someone sues you and wins (never set up a one person LLC). Please keep in mind that when you are in business it's not "if" someone sues you - it's "when" someone sues you. Unfortunately this has almost become a way of life for businesses - being sued. No, it doesn't happen all the time and to everyone. But the number of businesses getting sued for ridiculous things is overwhelming. Which brings me to my next topic - business insurance. The most important thing to have this for is legal expenses. If your business gets sued the legal fees can get real crazy. Easily into the tens of thousands of dollars. Business insurance should cover yoru legal expenses. So please, protect yourself so if in the event of a mis-happening or what ever else, your passion doesn't turn into your nightmare.
Thank you.
|
| Posted 10/30/07 2:52 PM |
| |
|
Laura-DDS
LIF Adolescent
Member since 1/07 840 total posts
Name:
Laura
|
Re: Can I get a Federal Tax ID number without...
its your SS# if you don't have a business
|
| Posted 10/31/07 12:10 AM |
| |
|
