I have a sole proprietor business and wants to get an EIN to separate my business and personal financials. But does getting an EIN require me to file a separate tax return for my business whether I have any transactions or not for the year?
2006-09-25 06:51:29 · 5 answers · asked by Slimmy 3 in Business & Finance ➔ Taxes ➔ United States
As a sole proprietor the income from your business will go on a schedule C (which is part of your personal return) You will have to pay the federal and social security taxes on the profit from the business. So if you have not paid estimated taxes and you have a profit you might want to do that asap.I hope this helps!
2006-09-25 08:00:46 · answer #1 · answered by jen 4 · 0⤊ 0⤋
No as a sole proprietor you do not have to separate your business tax from your personal tax in fact it can be advantageous to file just one.
2006-09-25 06:54:49 · answer #2 · answered by Jazz 4 · 0⤊ 1⤋
No. It can be done for various reasons, i.e., because you need the number to open a business bank account. However if you are a sole proprietor (not a corp. or partnership) you can use your SSN as your EIN.
2006-09-27 09:41:22 · answer #3 · answered by Dee 4 · 0⤊ 1⤋
the 4506 T is only a transcript, it isn't a replica of the tax go back in the experience that your husband had someone practice your go back you should request a reproduction from them, they're going to probable can charge you you could note for a replica from IRS which will fee $fifty seven
2016-11-23 20:55:23 · answer #4 · answered by Erika 3 · 0⤊ 0⤋
No, as long as you don't have any business income that needs to be reported to the IRS.
2006-09-25 07:05:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋