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Did a quick search, but didn't find anything about it, so hope it's not already been asked.
I have a full-time job, but want to start a side business. I plan to file a DBA (doing business as) with the county. Do I need and EIN?
According to the IRS website, you will need an EIN if you answer "Yes" to any of the following questions:
Do you have employees?
Do you operate your business as a corporation or a partnership?
Do you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?
Do you withhold taxes on income, other than wages, paid to a non-resident alien?
Do you have a Keogh plan? <--- No idea what that is.
Are you involved with any of the following types of organizations?
* Trusts, except certain grantor-owned revocable trusts, IRAs, Exempt Organization Business Income Tax Returns
* Estates
* Real estate mortgage investment conduits
* Non-profit organizations
* Farmers' cooperatives
* Plan administrators
I answered no to all of those, but I know of some other people at work here who run a side business who do have an EIN. Do I need it? What are the benefits?
Thanks
__________________
I reject your reality, and substitute my own
-- Adam Savage
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