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#1
01-15-2013, 02:12 PM
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llc and tax id number
If I am the only person in a llc do I need a new tax ID number
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#2
01-15-2013, 02:18 PM
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I do believe you cannot use your SS# anymore.
Also, why do you have an LLC as a solo op? Any employees? If solo, only reason for LLC is if you are in big biz debt. If debt free skip it does you no good.
__________________
7x14 Stealth SE Enclosed with 48" side ramp 08 Toro Z400 - 48" deck, 21HP Kaw 09 Exmark Turf Tracer HP 36" 21" Toro SR4 Super Recycler Stihl KM90 Kombi w/ straight shaft trimmer & tiller heads Husqvarna 125B Blower PG Magnum Turfco XT5 Aerator Turfco LS-22 Overseeder I can do all things through Him who gives me strength. Philippians 4:13
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#3
01-15-2013, 02:21 PM
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I can really tell you why, it not because debit. Somebody just pointed me in that direction
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#4
01-15-2013, 02:35 PM
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ok - not that llc is bad route, just not nec for a solo op.
__________________
7x14 Stealth SE Enclosed with 48" side ramp 08 Toro Z400 - 48" deck, 21HP Kaw 09 Exmark Turf Tracer HP 36" 21" Toro SR4 Super Recycler Stihl KM90 Kombi w/ straight shaft trimmer & tiller heads Husqvarna 125B Blower PG Magnum Turfco XT5 Aerator Turfco LS-22 Overseeder I can do all things through Him who gives me strength. Philippians 4:13
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#5
01-15-2013, 02:44 PM
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llc and tax id number
DBA is best route for a solo operation right??
__________________
2007 Chevy Silverado 2500HD Classic Duramax 38" John Deere F510 32" Ferris belt driven walk behind 22" John Deere JS60 Poulan Pro straight shaft trimmer John Deere pro series straight shaft trimmer John Deere pro series 4stroke blower Homelite handheld blower 4HP Craftsman walk behind edger 6X12 utility trailer
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#6
01-15-2013, 04:41 PM
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LLC can be advantageous to a solo when your income starts to climb. Talk to your CPA, they can advise the best because they know your numbers and business plan.
__________________
99 Silverado 4x4 2007 Silverado 2500HD 4x4 2005 Cargo King 7'x16' enclosed Blizzard 860HD 7 1/2 ft Western Plow Toro 7/24 snowblower 2 Toro CCR 2450 snowblowers 48" Allis Chalmers 48" Ferris WB 36" Exmark Viking 21" Toro 21" Poulan Pro 2- Echo PB755H Echo & Ryobi trimmers Echo PAS 265 & attachments Stihl & Poulan chain saws Stihl BP blower Stihl FS-56RC-E Trimmer Billy Goat 16hp HTR Loader Pesticide License BU0426 A Positive Outlook 
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#8
01-15-2013, 05:29 PM
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You have 2 different things here. Normally you get a FIN so that identifies your company with the taxman and if your opening up a business account at the bank. Some guys do a DBA but dump all the money into their personal account and pay from there. I prefer to keep business/personal separate
__________________
www.grandviewlandscaping.com
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#9
01-15-2013, 06:12 PM
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Quote:
BINGO! If you had an event that could ruin your company (like a death/serious accident from equip or whatever) your personal stuff can not be targeted by attorneys/people suing you. It would protect your home, personal savings/assets.
__________________
Pete
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#10
01-16-2013, 11:49 AM
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Quote:
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