Can you use your Federal ID (tracking # SS) for business Tax id #?
request for taxpayer ID # and Certification (W-9)
You can use SS# yes or no?
If you have nothing to hide, with indentiy theft on the rise the one number.that the Govt tracks you by>
Makes it that much simplier as proof of who you really are? (right!)
Answer:
If you own the business as a "sole proprietor" then you can use your social security number when asked for the business tax id. All income of the company will be your personal income for taxes. If you form a corporation, you must get a new tax id for the corporation. There are many types of corporations, each with different tax advantages and rules. I strongly recommend forming a corporation for any significant business. It protects the owner from lawsuits, has tax advantages, keeps record keeping simpler, etc. Do some research before deciding what kind of corporation to form!
hi yes you can,i do it is all good:)
You can use your SS. ID I believe if you have one business. But it is better if you apply for the other. It takes a few minutes by phone with the IRS. When you have multiple businesses, you need different numbers to clarify which business.
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