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can i use my sole proprietor ein for my llc first off i am not your attorney i'm not your cpa i'm just providing general business information that you can find anywhere that's where i get it from everywhere and anywhere uh but i've just been in the business for a while so i just have a lot of access to this knowledge and so i'm sharing with you but you can also get it from other people ultimately you make your own decisions second please like and subscribe if you get value out of this video comment below come talk to us and chat at betterlegal.com uh can i use my sole proprietor ian for my llc no end the video thanks for coming just kidding uh but really that's kind of that's kind of the long and short of it is no you can't to use an analogy uh can i use my social security number for my newborn baby can i transfer it over no you can't um because it's my social security number and i have to retain that and so the newborn baby gets its own social security number in the same manner me as a sole proprietor i already have my tax id i have an ein for my self my personal self but now i'm creating a totally new baby business it's a it's an entity that is a baby and so i can't transfer that ein that is pointing to me to the business so that's essentially how it works and so just to kind of give a little bit more uh understanding here is yes you can have an ein pointing to yourself okay um and it really kind of goes like that i guess um but if this ein here is for john smith it can't also be for abc tile now why is that well because let's say abc tile blows up it has a you know great youtube channel and a tick tock and just people go bonkers for and people just start buying tile out the yin yang um well now you have this kind of ein that you know maybe john's not even part of it anymore john sold the business he sold it to a private equity firm and but now this ein but but he wants to still be working personally and still do tile kind of small jobs because he's fun that's that's why i got into it it's it's fun so you've got a private equity firm that owns abc tile llc and you've got john smith over here that uh is still doing work personally but they share an ein whoa that's not good because if he's filing his business taxes for his sole proprietorship and the business is filing their taxes what ein did they use they can't share an ein so that's kind of how it gets complex and why you know if you've got an ein for yourself why you have to get a new ein for the business so hopefully that made sense um i'm not going to go talk about that today but yeah that's basically how that works if you have further questions about eins we can talk about it so please like and subscribe also buy an llc from better legal um check us out betterlegal.com share uh share us with other people we actually have a really great affiliate program and so if you become a customer of ours you get an affiliate link and you share that with friends they get 100 off and you get 100 check in the mail so that's something to think about if you introduce three new people three new business owners your friends that are all talk about hustling if you have three friends that you give their link to your llc is free so um anyway hope you have a good day and we will see you next time
Thanks for your comment Olinda Heuett, have a nice day.
- Sterling Revelle, Staff Member
Thanks for this interesting article
Thanks atomorenoR your participation is very much appreciated
- Sterling Revelle
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I've studied aerodynamics at Florida International University in Miami and I am an expert in ethnobotany. I usually feel indescribable. My previous job was home health aide I held this position for 2 years, I love talking about driving and ocarina playing. Huge fan of Randy Quaid I practice cycling: bmx) and collect books.
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