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Thread: EIN number

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    Default EIN number

    So I am filling for an EIN number but I don't know what to put. I am going to start selling on clips4sale.com. I put sole proprietor with starting a business. What should I put as business type? Eventually I will be camming and have already made some money on extralunchmoney.com. Sorry for the stupid question but IRS stuff just goes right over my head.

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    Default Re: EIN number

    Are you sure you need one? Are you going to have salaried employees? "Business type" usually means are you a partnership, limited partnership, corporation, trust, limited liability company, etc.

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    Default Re: EIN number

    Clips4sale is asking for one. On the IRS site I select I'm the only one with no employees with w2s.

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    Default Re: EIN number

    Wont they take your social security number?

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    Default Re: EIN number

    Nope.

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    Default Re: EIN number

    I don't see a form, just online applications

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    Default Re: EIN number

    I don't know if I should just put other on the IRS site and type in model or just hit retail.

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    Default Re: EIN number

    Quote Originally Posted by ashley jane View Post
    I don't know if I should just put other on the IRS site and type in model or just hit retail.
    trying to download the form, and the website locked up the computer

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    Default Re: EIN number

    I didn't have to download anything. https://sa2.www4.irs.gov/modiein/individual/index.jsp

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    Default Re: EIN number

    An EIN is a number used by a legal entity for tax purposes. Right now it sounds like there is no other legal entity.

    I'm assuming the goal is here to be able to avoid using your real name and real social. Probably what you want to do is create is an LLC corporation. That has to exist in some state, usually the state in which you actually physically reside. You will then be the registering agent (and managing partner and owner) for this legal entity and that legal entity has the EIN. You apply for the EIN at the same time you create the LLC it part of the whole package of organization. So this is complex because you are only doing part of a system.

    As an aside for about $300 you can use an online kit and get all this paperwork filed for you. You could do it yourself and save about $100 in terms of fees and stuff if you like to Google, or just pay them their extra $100 and follow step by step instructions. I personally used mynewcompany.com when I went through this. If you google, "llc formation" a ton of companies will come up. I give mynewcompany a B, in terms of customer satisfaction and in retrospect I probably would do it myself now but having a step by step guide was really nice. There are a lot of steps. If you do find this stuff confusing definitely go with one of these services.

    I'd also recommend you have a post office box as the address for the LLC before you form. And if you have a friend in the business or relative you could criss-cross registrations to make your paperwork a bit harder to follow. Remember that your model name will be filling along with the LLC all over the place. The LLC will have as a matter of public record things like the registering agent and contacts which if you don't do all this will be your home address.

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    Default Re: EIN number

    If you wanted to be a Texas Corporation, you can get the documents without paying $300 to a website.
    http://www.sos.state.tx.us/corp/forms_boc.shtml

    But probably she just wants to satisfy Clips4sale, and as a sole proprietorship with a FEI number she can probably do that.

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    Default Re: EIN number

    I just want to join clips4sale that's all. I just wanna make sure I'm clicking the right options so no one will yell at me when I do my taxes. I don't want to do other and an account be like no you should have done retail since you are selling stuff.

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    Default Re: EIN number

    C4S sounds like a pain in the ass


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    Default Re: EIN number

    I keep seeing it everywhere and people saying they're getting sales on it. So why not try it out? Except for this EIN thing.

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    Default Re: EIN number

    Maybe retail. You are selling tangible personal property.

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    Default Re: EIN number

    Quote Originally Posted by ashley jane View Post
    I just want to join clips4sale that's all. I just wanna make sure I'm clicking the right options so no one will yell at me when I do my taxes. I don't want to do other and an account be like no you should have done retail since you are selling stuff.
    The very first page when you sign up with clip4sale as a studio you tell it if you are a business or an individual. If you want to conduct business as an individual using your real social security number then click individual not business.

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    Default Re: EIN number

    I think I tried both and they both asked but let me start over and see.

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    Default Re: EIN number

    Quote Originally Posted by ashley jane View Post
    I think I tried both and they both asked but let me start over and see.
    If you are using your real name as the business entity which owns the clips for sale studio the EIN is your social security number. By EIN they mean IRS registration number of the taxable entity conducting the sales. If this is you as an individual then that is your social. I'd assume if they are using this phrasing though, they think the idea of using your real name / social is a terrible idea. If it were me, I'd take their advice into consideration.

    ______

    For example I'm in clips as a performer that are on clips4sale. Because of the 2257s those clips involve my real name. But I used my passport not driver's license as ID so they aren't easy to tie back to my address and personnel life. And I'm just the dude getting beat up in the videos, I'm not the one who is likely to be stalked for example.

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    Default Re: EIN number

    I'd click back and try and it would still come up as EIN but I restarted cleared browser history and it let me start over and let me put my social in.

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    Default Re: EIN number

    An EIN is an employee identification number. Do you need an EIN? <<<<< IRS link

    A sole proprietorship can have a separate EIN or the owner's social security # as the EIN. Is a sole proprietorship right for you? <<< Small Business Administration website

    There is TON of free online classes and FAQs on small business's on the SBA's website. Great way to educate yourself.

    My advice is if you do get a separate EIN it is important to have a separate business name listed with the state you live in. It is really simple to set up.
    Do NOT use your personal name with a separate EIN. I have seen this mistake many times. Keep your business name general and not linked to your personal name.
    The type of business you want listed as ..... entertainment and all lawful business activities allowed under the laws of the State of ---------. This protects you from issues when you diversify into different areas.

    This is a site about how to form various companies...... this page is about forming an LLC step by step.

    If all of this is too overwhelming for you ... just use your name and social security number.
    Nature knows no indecencies; man invents them. ~ Mark Twain


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    Default Re: EIN number

    I've sold clips and c4s and I did not need an EIN.

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    Default Re: EIN number

    I got it straightened out. It had me as a business and not an individual I went back and changed it and it let me use my social.

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    Default Re: EIN number

    Great, glad to hear. good luck


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    Default Re: EIN number

    Thanks for the help everyone.

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    Default Re: EIN number

    Quote Originally Posted by ashley jane View Post
    I got it straightened out. It had me as a business and not an individual I went back and changed it and it let me use my social.
    Great.
    Congratulations.
    That makes a lot more sense.

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