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Sole proprietor or LLC?

January 28, 2019 02:48PM
Looking to apply for EIN and wondering which would be better. Looking for advise.
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January 28, 2019 02:57PM
Sole prop is the way to go. AND no need for an EIN. Just use your SSN. In some localities, reporting as an LLC will wind up costing you local business taxes. And an EIN is NOT needed unless you have employees whose incomes you need to report to the IRS.

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.
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January 28, 2019 03:03PM
Thank you. I wanted to do EIN so that I don't have to give SSN to so many companies.
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January 28, 2019 03:11PM
No difference. The bad guys that can get your SSN can also get your EIN. Beside, just look for the little symbol that tells you that the MSC's website has a secure connection.

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.
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January 30, 2019 12:53AM
An LLC is kind of like a marriage; easy to get into and a big PIA to get out of.
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January 30, 2019 10:03AM
EIN has the advantage of protecting you from ID theft somewhat better. Also there are a few msps who require one now. I believe trendsource is one if you were not grandfathered in.

Shopping Western NY, Northeast and Central PA, and parts of Ohio and West Virginia. Have car will travel anywhere if the monies right.
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January 30, 2019 12:19PM
An LLC protects your personal assets against a lawsuit (If any ever happens), whereas, Sole Proprietor does not. There are a lot of pros and cons of an LLC. I have a DVD I've used that I put into my computer and filled out all the LLC information and filed the LLC by myself without an attorney. So, the cost is only for filing the paperwork (and the cost of the DVD). I believe now you don't need the DVD, you can do it on the website. It begins getting complicated when the corporate tax needs to be paid and when your corporate taxes need to be filed.

Shopping Arkansas, Louisiana, & Mississippi.
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