The Small Business Tax Help Blog

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Question: Multiple questions for IRS Form SS-4 (Employer Identification number) for LLC?

Will an EIN be needed for a four member managed LLC with no employees? Basically, we plan to start a LLC and use that as a entity to manage a business with a different name.

Also, when applying for an EIN (Employer Indentification Number) as an LLC, if you checked “Partnership” as type of entity, what happens if you file your taxes as a “Corporation”.

Are there any fines involved or do you need to revise your EIN if you choose to file as a Corporation?

Answer: A multi-member LLC should have an EIN – otherwise whose social security number are you going to put on the K’1’s?

If you are a multi-member LLC, then you will have to file a partnership 1065 return, unless you file form 8832 electing to be treated as a Sub-S corp for Federal tax purposes. If you want to be taxed as a Sub-S corp, you may want to check with a lawyer and an accountant to verify this is the best way to go for your organization. If you are going to be taxed as a Sub-S, it may be better be create a Sub-S corp. Be aware that if you file your Sub-S election late, that you may have to file as a partnership at first.

Die besten Indien Aktienfonds

Die Fondsmanager der besten Indien Aktienfonds haben Fragen zu den makroökonomischen Faktoren der Assetklasse, der Beziehung zwischen Indien und China, sowie den Gewichtungen und Performances ihrer Produkte beantwortet. Wo liegen Risiken bei Indien …

Basshunter : Now You’re Gone

The Migrant’s Eye

The World Bank 2011 Essay Competition finalist – Shaun Tan from Malaysia on brain drain. By Shaun Tan ‘Our young people represent the future of our country’. This phrase has been echoed by almost every politician in almost every country in modern history. However the changes instigated by the increasing ease of migration are such [...]

Owning Your Own Business, Part 4 – Dr Ray Hagins

Question: EIN number discrepancy?

I recently got a new debit card for my business, but when I tried to activate it the bank said my Federal Employment Identification is incorrect. I double checked and compared it with the original forms from the IRS, and the number is identical.

I also was just notified that one of my jobs will not pay until I give them my correct number. What would cause a discrepancy like this?

Answer: You needed this number at your bank – check with them to see what they have

If you file payroll taxes – look on that form to see what the EIN is on the form

Call IRS locally and ask them what the correct number may be – they will tell you.

Local nonprofits at risk of losing status

Attention “Silverado Singles,” “Praise Filled Ministries,” and“Camp Me and My Family.”

My Redeemer Lives – Team Hoyt

Question: What’s that song!?!?!?!?

“Wherever you go, I’ll follow you hom ein my dreams..”

I think it goes like that? Idk, I heard it at the end of a movie.

Answer: Was it follow you down?
By Gin Blossoms.

Yeah, It’s called follow you down.
It sounds sort like dreams.

“Anywhere you go, I’ll follow you down”

Bedourian to be installed at St. Gregory Armenian

NORTH ANDOVER — Tomorrow is a special day for members of St. Gregory Armenian Church. The Rev. Karekin Bedourian will be installed at 10 a.m. as the church’s pastor by Archbishop Oshagan Choloyan, prelate of the Armenian Apostolic Church of North America.

Alu – “Circus Cosmos” – Live Video

Question: Calendar year vs. fiscal year, what is the difference.?

I am filing for an EIN – Employer Idenitification Number and the application asksif I am on a fiscal or calendar year. What is the difference of filing for either type of calendar for tax purposes? Is one better than the other? By the way I am a registered LLC company in the state of California.

Thank you.

Answer: The only difference between a fiscal calendar, and a calendar year is in how you do accounting.

For Example if you use the Fiscal calendar, your accounting year could start in October, or the fourth quarter of the calendar year. Or, in any other quarter and it doesn’t matter. While this would be your 1st quarter it is still the 2nd, 3rd, or 4th quarter of the calendar year. This really only matters for businesses that already have an established accounting policy based on the fiscal year.

If you are just starting the business save yourself some headaches and just use the calendar year. It makes taxes and accounting easier. A lot easier. I have started multiple corporations in my life and it has always been easier to just use the calendar year.

Beware of credit repair scams

You have heard many synonyms or phrases that mean the same thing in the realm of bad credit. The terms credit repair, credit restoration or credit rehabilitation are completely synonymous. Those with bad credit histories cannot afford to ignore the potential benefits of credit repair.

(dba license california) DBA License in California …