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Old 07-23-2009, 02:14
angelkajm angelkajm is offline
Senior Member
Join Date: Nov 2008
Posts: 662
Default Re: Tell me about tax ids and such

EIN or TIN or tax id are all the same. They are misused A LOT!!! You gotta remember if you apply for a EIN/TIN then you are saying to the government that you have a running business that will require you to pay federal taxes. Sure you can count your loss with supplies etc. but that is more of a tax accountant ? If you are at the point were you are no longer a "hobby" and a full business then you will need to check with your state and get a state tax payer number so you can file your taxes/sales tax with your state. You can find that info on the IRS website. There are a bunch of little lessons on the IRS website about how to start your new business. Right now in our economy banks are not as likely to loan small start up business money unless you can show that you have a good profit margin. Of course there are other types of loans out there but for a business loan it is pretty hard to get unless you are established. Now I am rambling but get onto and do a search on EIN or small business and there is a TON of info.
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