What is the Difference Between an EIN and Social Security Number?
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- เผยแพร่เมื่อ 5 ก.ค. 2024
- In this video, you get answers to these questions:
0:00 - Introduction
0:29 - What is an EIN Number?
0:58 - What is a social security number?
1:21 - What is a Tax ID Number?
2:06 - How does the IRS know there is an audit needed?
2:51 - Overview
3:16 - Outro
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Sir out of 20 million video's that i watched your video is the only one that explaind it perfect !! Thank you !!
Thank you for your time!
Thanks for your kind note.
nicely explain
Thank you for your kind feedback.
If a special needs person receives a portion of their parents pension (after they pass) via special needs wording in the parents trust the account used to receive that income should have an EIN? Isn’t that taxed higher?
Hi there, I want to securely send a W9 to someone but don’t want to use my SSN. I provide services & am paid by the business. Could I register for an EIN then?
Yes, you can get an EIN. Technically, you are a sole proprietor because you do a business but don’t have a partnership, LLC, or corporation.
and can I file with both ??
Usually, tax forms require that you provide a tax ID number for your business (EIN) and yourself (Social Security number).
So if I open a business with my ein number is that the number I will use for taxes only .....Not my social security to protect my social from law suit .
The IRS knows your EIN is related to your social security number. The EIN is generally the tax ID number you should use for your business. However, none of this relates to protecting your personal assets from business lawsuits. Tax ID numbers like your social security number and EIN are simply ways the government keeps track of your money.
@@Hall so when I file taxes under my EIN number will it show up under my soil number also as if I filled under it or no..
I think you profusely for this information thank you so very much for explaining the difference I am 59 years old I was married and everything was in my husband's name but even though I now have my own bank account and everything I just found out through your video the distinction between the three the accurate term for each which would be the EIN number the SS number and the tax ID number thank you so much very much God bless you thank you for the information it was greatly needed
Glad it was helpful! Thank you for sharing your thoughts.
does this mean i should have both SSN and EIN?
Thanks for your kind note. Here is a potentially helpful resource: aaronhall.com/maximize-potential-and-protection-ein-and-llc-for-businesses
Great video, thank you, I just registered my LLC in the usa but I am from jamaica, I just wanted to know if it is pssible to get an ss or tin for me not my business. Is there a way to contact you?
For your question, I would recommend contacting a CPA in the state where you registered your LLC.
I now feel comfortable about my business trust
Can you use an EIN to build a personal credit profile ? Is it legal?
As long as you are providing truthful information and complying with any contract terms, I don’t see any reason this would be improper or illegal.
Minnesohhhhta
Hahah. Yes sir.
Very bad info! You CAN NOT get a credit card using an EIN unless you are incorporated and have about 75k in the account! You MUST guarantee with your social security number!