Re: Applying for EIN Quote:
Originally Posted by Harvin No.EIN for LLC. Should I talk to IRS customer service to better help me to apply. What I want to do is talk to the irs customer service while I'm online so that I can ask them question about the application on the irs website. I dont want to make mistake when applying because its the irs. | Ok, this should clear things up.
EIN comes from the IRS. You get this for free from the IRS website. The IRS can not and will not give you accounting advice.
Now you need to select an entity type. This really needs help from YOUR newly found CPA who understands business.
DON'T GO WITH A SOLE PROPRIETOR. It is most risky for stealth and links directly to you. It has the least write offs(for MOST people) and has the maximum amount of liability.
Odds are YOUR newly found BUSINESS oriented CPA will have you open an LLC. You will insist of a multi member LLC and YOUR CPA will be able to explain why in details.
He/she may suggest an S Cprp and that is 100% awesome as well.
IF your accountant insist on a schedual C sole proprietor then I strongly suggest seeking another adviser who handles BUSINESSES not w2 forms.
So what you should really get out of all this is:
YOU need to seek out a CPA who deals with business. YOU need to understand that YOUR new CPA will be able to save you a ton in tax or increase your tax returns and is well worth the small expenses they will charge for advisory if they charge you anything at all being a student along with to earn your business.
I wish you luck!
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