An EIN is an Employer Identification Number obtained with the IRS for business purposes. Despite it’s name you may need or want to obtain an EIN even if you do not have employees. Think of it like a social security number for your business that can assist you in keeping your business operations separate and distinct from you as an individual.
Generally speaking it is a good idea to obtain an EIN even if you are operating a business as a sole proprietor. These can be filed for free on the IRS’s website. The IRS has provided guidance on who should obtain an EIN here.
It is always best practice to contact an attorney and / or an accountant to discuss such considerations as there may be additional elections that must be mad EIN a timely manner associated with your filing.
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