Friday, August 8, 2008

Take a Number: E, I, EIN

Remember, the following is entertainment, not professional advice:

Once the state in which you organize/incorporate makes your company official, get an Employer Identification Number (EIN) from the Internal Revenue Service (obviously, the IRS). You can either get Form 8822 (right-click > save as) and wait about a month for your company's federal tax number, or you can apply online to get it instantly.

At DeRamos Group LLC, we applied online. I believe this is one of the few steps, when founding a new business, that's initially free. Of course, your business' EIN is related to federal taxes and therefore ultimately not free.

To be continued...

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