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How do I get an EIN?
 

Hello,

Anyone know how I can get another EIN? I already have one that is attached to a PayPal, but now the other one is asking for it. I obviously can't provide the same EIN, but the IRS stated I could only get one EIN per lifetime with my SSN.

Any suggestions?

Re: How do I get an EIN?
 

Huh? 1 EIN per SSN in your life time? That can't be right...

It's 1 a day. Try again.

Re: How do I get an EIN?
 

It's because I'm a sole proprietor. Is there another way to get the EIN that I'm not aware of? It gives me an error every time I fill out that form online to get an EIN. "Error 101" is the code. I mean, do you know of a way to get more than one EIN as a sole proprietor?

Re: How do I get an EIN?
 

LLC, S-CORP, C-COPR, LLP, TRUST, etc.....

Sole Proprietor is the WORST type of company. It is the most taxed and most liability. It is silly to use one at all. It is nothing more that your SS.. This is why the government wont let you have more than one. It is financial suicide and the IRS actually does not want to wipe you out financially, so they limit you to one.

You seem to be more experienced in this area. What would you suggest? I know you're not my accountant, but just looking for advice in the forum based upon your own experiences.

Can I get more than one as an LLC? Which corporation style listed above do you think gives the best tax breaks?

Re: How do I get an EIN?
 

You can get get as many LLCs as you have money to spend on them!

Re: How do I get an EIN?
 

Is that what you suggest I do in order to get more EIN's?

Re: How do I get an EIN?
 

I don't think I understand you question? I'm not suggesting anything at all...

I'm trying to get more than one EIN because as a sole proprietor I'm limited to one, and you can't use the same EIN on more than one PayPal.

Re: How do I get an EIN?
 

Then start a business... LLC... or anything that Yankee mentioned above.. Gets you another EIN.

Re: How do I get an EIN?
 

I like S-corp, most people like multi member LLC. Get yourself a decent accountant. I like to have my companies in NV and WY and one in every state I operate in as well to lower tax liabilities.

This is stuff way beyond what this forum is intended for and we each have unique situations. For example, if your business barely makes any money after expenses, your SP is a great way of getting a tax return(I never will get one, so it is not for me) but if you are making some money after expenses, then you pay at least 15% right off the top for self employment taxes and odd are add in Fica and your state and it exceeds 21% before any federal taxes are even considered.

Re: How do I get an EIN?
 

From google of course!
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