Need help filing for an EIN

[Kristal]

Okay, for the past 2 years I've just been working and filing my taxes as a sole proprietor. Well, it's time I gave my business a working name and got myself a business account with my bank. My friend was supposed to help me fill out whatever I need to fill out to get a federal EIN (I think that's what I need to open a business checking account at the bank) but she isn't able to, and people keep telling me that it's simple to do, but I don't know where to look!

I'm in Michigan, I've looked at http://www.michigan.gov and searched there but I'm not quite sure what I should be looking for. I think I'm just going to keep myself as a sole proprietor, or LLC as some of you have mentioned before. Can anyone help point me in the right direction? (Tera, are you out there anywhere??

Thanks in advance! I'd like to try doing this myself instead of paying my accountant to do it...

 

[jcab20055]

Hello Rebecca,

You are looking in the wrong place for an EIN. EIN's are issued federally through the IRS. Here is a link for you to find out how to get one. http://www.irs.gov/businesses/small/article/0,,id=98350,00.html

The easiest way is to call the number: APPLY BY EIN Toll-Free Telephone Service
Taxpayers can obtain an EIN immediately by calling the Business & Specialty Tax Line
(800-829-4933). The hours of operation are 7:00 a.m. - 10:00 p.m. local time, Monday through Friday. An assistor takes the information, assigns the EIN, and provides the number to an authorized individual over the telephone.

It may be a good idea to set up your business type and name before you do this though. If I remember correctly, when you apply for your EIN, they want to know how your business is structured. I am not sure how easy it is to set up an LLC in your state, in mine it is very easy. Maybe you can do yours online?

 

[GopBLissIgnorance]

I think I just did it online I went to the IRS website and it had an application to apply online, and it gave me an EIN and said I should receive a confirmation letter within 15 days. I just hope I did it right! I just filed as a sole proprietor...

I don't remember signing up for all of this business and paperwork stuff in massage school!

 

[Vengeance of God]

I don't remember signing up for all of this business and paperwork stuff in massage school!

That's one thing I wish was stressed more suring massage schooling.
I have a business background thank goodness but many do not. We had a weekend "seminar" regarding business. It was a joke.
Yes, the online EIN application at the irs is fast, you did it right.
IF you are a sole prop. you can use your SS# for your tax is however I don't like having that # floating around.

Robyn

 

[Bill Kaulitz lover 4ever!]

Yes, you need to file with the IRS, not the state. I also filed online, they give you the number right away, but they would prefer that you waited till you had the confirmation by mail. It was very quick to set up, I am glad I filed for it since I would rather use that number instead of my SS#, especially on all the insurance claims!!!

 

[Pompal 09.]

hey rebecca,

looks like you got it! sorry i haven't been around. my accountant filed mine at no charge. hope it all worked out alright! ps. i'm headed to ikea to spend a bunch of $. hooray! i love that store.

 

[OvantamnHap]

Oh Ikea....as soon as I have some money I'll be buying some stuff from there!

Yep, got the EIN and went to my friends house last night and she helped me fill out papers to get my business name, so as soon as I have that back from the state, I can open up my business account at the bank and FINALLY get things more on track!!! Yay!

I hope 2007 is wonderful for all of us!

 

[Lee]

Oh Ikea....as soon as I have some money I'll be buying some stuff from there!

oh, be careful there. i spent almost $1,000 there on stuff for my office this week! yikes, i gotta stay out of that store.

glad you got that stuff figured out. it will be nice for you to get a business bank account. i think my paperwork came back pretty quick (if i remember correctly). do you know what bank you're going with? if you're undecided, check out TCF. they are really great for small businesses. i checked out lots of banks before i opened my account and they were the best. my $.02.