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Applying for EIN
 

I need EIN number, my question is do I need to talk to a accountant/advisor to process this or can I just apply online? thank you.

Re: Applying for EIN
 

You can apply for one here. Apply Online For An EIN Number - Employer Identification Number

Re: Applying for EIN
 

Should I talk to a accountant before I apply for EIN?

Re: Applying for EIN
 

You'd have to eventually talk to one, so why not do it prior to your application. So, yes, talk to the accountant and explain why you need and your long-term and short term goals.

Re: Applying for EIN
 

Yes. I will talk to someone prior to the application, I dont want to make mistakes about the application that I will fill up.thanks.

Re: Applying for EIN
 

Ye, that's what I would have done

Re: Applying for EIN
 

After I got the EIN What should I do next?Put it on paypal or talk to a paypal customer service to let them put the EIN? thanks.

Re: Applying for EIN
 

I think is always better to call from the same number your account is register from if you can . you can put online also but call always better

Re: Applying for EIN
 

I would apply directly at the IRS website. A lot of websites exist to take your information and then input it to the IRS' website for a fee of $50 - $250, but you can easily apply at the IRS website yourself, for free.

Re: Applying for EIN
 

can a EIN be added to Paypal after it's been created and issued?
Or must you wait 2 weeks before paypal will accept?

Re: Applying for EIN
 

PayPal will accept it whenever you give it to them, but it will not show up in the verification systems for 14 days. So, it would probably come back as a "No Match" and you would have to re-submit it.

Don't fall for these websites that tell you they can get it for you instantly - they CAN - and so can YOU - but that just means getting the number issued. They have no speical way of speeding up the IRS's computer systems.

Re: Applying for EIN
 

Usually you'd wait out until you get a request for tax id but you can do it yourself earlier via online process.

Re: Applying for EIN
 

Cool might need this soon thanks for the info.

Re: Applying for EIN
 

EIN. Sole prop??
Sole prop you can do from the IRS website within minutes.
You really dont need to talk to any financial person. You can for your own piece of mind.
They will probably just tell you to get a DBA, open a business checking account and keep all your finances separrate from personal income.

Re: Applying for EIN
 

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.

Re: Applying for EIN
 

Then you need BETTER advisers who understand business. That is about the worst and most ignorant advise an accountant can give MOST everyone.

Re: Applying for EIN
 

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!

Re: Applying for EIN
 

I strongly suggest staying away from Tax Liberty, Jackson Hewitt, etc... If they can be found at Walmart, a grocery store or in a kiosk anywhere then I would avoid. They are great for W2 employees. That is not what you need. They as a very vast and general rule are near useless for businesses.

Re: Applying for EIN
 

You need to talk with a Business Lawyer first. He will explain you everything about EIN Number Application.

Re: Applying for EIN
 

I found this very helpful, I think, you will get all your information about EIN..
https://mollaeilaw.com/blog/foreign-ein/
ein without ssn