EIN - Who has them?

I've been getting a lot of emails about getting an EIN. I spoke to our tax consultant today and he said we should not get a EIN unless we have a partnership or employees.

What is everyone else doing?

When you get 1099's - is it for reimbursements or just commission/shop fees?

Thanks.

Create an Account or Log In

Membership is free. Simply choose your username, type in your email address, and choose a password. You immediately get full access to the forum.

Never got an EIN for shopping and have no intention of doing so. We had to get one for a business that was operated out of the house and was required to pay sales tax. There was a never ending parade of demands from city, county and state for various inspectors to appear and certify this and that and the other, for a fee, of course and business taxes and occupancy taxes and can you still breathe taxes. So a big "NO" from me on an EIN!!

A 1099 should be for fees and bonuses only. Reimbursements should not be included. Some companies I have found call mileage reimbursements "fees", which is fine by me because that frees me up to claim the IRS deduction for mileage (which is always higher) instead.

Hello - good questions as you're getting started. I recommend that you read Flash's sticky: [www.mysteryshopforum.com]. It will address many of your questions.

I don't have an EIN and, unless there are extenuating circumstances, it is neither necessary nor advisable for a mystery shopper to get an EIN.

MSPs may issue 1099s with an amount including both reimbursements and fees; however, it should be fees only, as only fees are taxable. Keep track yourself and address any reimbursement amount on Schedule C by subtracting reimbursement dollars. Again, read the Sticky, and also you can find discussion of this and related matters by using the Search feature.

EINs are totally not needed. Also, we are responsible, as Flash has said, for our record keeping.

The good news is that the IRS must give "defference" to written, contempary records" of folks like us. So, keep your mileage and other records up to date and rest easy.

Based in MD, near DC
Shopping from the Carolinas to New York
Have video cam; will travel

Poor customer service? Don't get mad; get video.

I got the EIN simply by filling out an online Social Security Administration form and the EIN was mailed to me within several days. I use it in place of my social security number for ms companies requiring it.

Sorry, only registered users may post in this forum.

Click here to login

EIN - Who has them?

Create an Account or Log In

Official List of Mystery Shopping Companies

Mystery Shopper Magazine