Information

Launching a business is an exciting time in any entrepreneur’s life. If you’re considering registering your company as an LLC, you probably have many questions regarding how to do it, such as whether you should obtain an EIN before or after you register. The short answer is to wait. Here, we’ll explain a little more […]

The S-corp business structure provides your business with several advantages compared to a partnership or a sole proprietorship. Namely, this business structure allows you to reduce your self-employment tax, and because that tax is over 15%, electing to be taxed as an S-corp can potentially save you a lot of money.  At the same time, […]

In spite of the name, Employer Identification Numbers (EIN) are not just for employers. All kinds of entities use an EIN as their tax identification number. In particular, if you’re setting up a trust, you need this number. To help you out, this guide provides a brief overview of trusts, looks at why they need […]

Churches are tax-exempt, and if they qualify for 50(c)(3) status, they don’t have to file an annual income tax return as many non-profits do. If you run a church, you don’t have to worry about paying income tax or filing a tax return for the church. But you still need a tax ID. To help […]

If you are forming a corporation, you will need to obtain a tax ID (EIN) number. This is a nine-digit number that is used to identify your business for tax purposes. You can apply for an EIN online, by fax, or by mail. But applying online is usually the best method. In Brief: How You […]

When someone dies, their assets become the property of their estate. Then, the estate goes through a legal process called probate. Probate pays off creditors and distributes the estate’s remaining assets to heirs as dictated by the deceased person’s will or by state law. To complete this process, you may need a tax ID number […]