From the course: Running a Web Design Business: Defining Your Business Structure
Unlock the full course today
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Applying for an Employer Identification Number (EIN)
From the course: Running a Web Design Business: Defining Your Business Structure
Applying for an Employer Identification Number (EIN)
In this video, I'll show you how to apply for an employer identification number, which you'll do with the Federal Government. This Id number called EIN for short, is a unique number that identifies your business for tax purposes. It's similar to an individuals Social Security number except, is for the business. You only need to apply for a EIN if, the LOC has more than one owner. The LOC will hire employees and, the LOC elects to be taxed as a C corporation or S corporation. Even if there is only one member, you can apply for an EIN online, by mail, by fax and by phone. If you need any help, the IRS offers free support online and over the phone. For example, we downloaded the EIN form from the IRS website. And by the way, it's a free government service. So beware of internet sites that charge you to obtain an EIN, save yourself some money. Let's look at how Amy would fill out this form, for her fictional web business. On line one, she entered the name of the LLC. Line 4A and 4B is the…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Contents
-
-
-
-
-
-
(Locked)
Getting started with a name for your LLC2m 52s
-
(Locked)
Filing the Articles of Organization3m 53s
-
(Locked)
Creating an operating agreement1m 10s
-
(Locked)
Obtaining local licenses or permits1m 10s
-
(Locked)
Applying for a city business tax receipt5m 47s
-
(Locked)
Applying for a county business tax receipt2m 37s
-
(Locked)
Understanding tax election for LLCs5m 30s
-
(Locked)
Applying for an Employer Identification Number (EIN)4m 5s
-
(Locked)
Opening a business bank account1m 58s
-
(Locked)
Understanding state tax obligations57s
-
(Locked)
Understanding federal tax obligations2m 2s
-
(Locked)
-