EIN Filing: Embracing the Unknown on my Entrepreneurial Journey

in #freewriters • 21 days ago

5/10/24
image.pngirs.gov screen snippet

I filed to get an EIN on Thursday. It was fairly easy and quick to do. Make sure that the url is as shown above. And be sure to get a digital copy by printing out the pages you are told to print. You will also want to receive a copy via postal service. Read carefully but do not take more than fifteen minutes between questions or you will have to start over again.

I have no idea what I am doing but I am willing to learn as I go. From my understanding the purpose of an EIN (employer identification number) is when you want to start a business, it is the number that can separate your personal bank accounts from business bank accounts.

There are several types of business's, the lowest and easiest is the sole-proprietor.

In a sole-proprietor you are the business and all that is needed is the intent. No registration necessary like with an LLC or above.

An EIN is not necessary for a sole-proprietor but is good to have. As far as actually filing taxes for this type of business it is no different from being a regular employee. You file a form 1040 but you will also need to fill out a schedule c form.

The reason behind me doing all this is because as I mentioned in a previous post I am attempting to find my internet income.

I can be a bit scattered in thoughts and actions at times but I have no doubt I will find my way.

I do not believe in limiting ones creative thoughts but at the same time I can also see why it is important to keep a journal.

There is probably something I am missing but that may come in a future post. Thank you for reading this and I look forward to engaging with you in the comments. If you are coming from outside of hive and enjoyed my content, please consider supporting me.

#pimp #neoxian #pal #cent #pob #vyb #innerblocks #learning #life
21 days ago in #freewriters by
$0.07
  • Past Payouts $0.07
  • - Author $0.04
  • - Curators $0.04
5 votes
Reply 1
Sort:  
  • Trending
    • [-]
     20 days ago  

    Congratulations @wanderingmoon! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)

    You have been a buzzy bee and published a post every day of the week.

    You can view your badges on your board and compare yourself to others in the Ranking
    If you no longer want to receive notifications, reply to this comment with the word STOP

    Check out our last posts:

    LEO Power Up Day - May 15, 2024
    $0.00
      Reply