taxpayer ID vs. SS #

[CatchingUp]

I guess this is directed to US photogs who are in business for themselves...any thoughts on just using your SS# or is it better to just get a tax payer ID #?

[amccomis]

depends on who is asking you for it and why.

[Mike R]

If you are a Sole Propritorship, you can use your SS#, if you are an LLC, you need an
EIN # (taxpayer ID) The banks will require it for you to open a Business checking account,this also means you need to pay additional taxes, some of which is deductable but not all of it. An accountant can give specifics.

[bwolford]

I highly recommend a EID. Why would you want to expose your SSN when you don't have to?

[CatchingUp]

I highly recommend a EID. Why would you want to expose your SSN when you don't have to?


How often do you have to make your EID public?

[bwolford]

Rarely, but it sure beats the SSN.