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6 Replies Last post: Feb 26, 2009 4:56 PM by instantv

As a sole proprietor

Feb 26, 2009 2:23 PM

massagefever 51 posts since
Feb 11, 2009

how importortant is it to go through the process of getting the EIN and the what is it DNB (?) to establish credit different from my personal? I already have a serarate checking, two credit cards, and everthing is entered into peachtree as company expenses or receipts.

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instantv 59 posts since
Jan 20, 2009

1. Re: As a sole proprietor Feb 26, 2009 2:56 PM

For certain conditions it will be good for you to get an EIN. This is a
link for you to get the information you want as well as apply for your
EIN and get it directly online in a matter of minutes. Also take
comfort in knowing that the IRS supplies you with your EIN at no cost.

http://www.irs.gov/businesses/small/article/0,,id=102767,00.html

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danalmt 1 posts since
Feb 26, 2009

2. Re: As a sole proprietor Feb 26, 2009 3:33 PM

As a sole prop. you do not have to have a EIN number unless you have employees. The advantage to having it is not using your own Social Security Number as your business number. DBA= doing business as

also know as a ficticous (sp?) name. If you do not use both your first and last name you must register for this. I am also a massage therapist and wish you the best of luck. If you have questions- I've been going to our small business resource center- maybe you could find one in your area.

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massagefever 51 posts since
Feb 11, 2009

3. Re: As a sole proprietor Feb 26, 2009 3:58 PM

in response to: danalmt

Oh great I would to pick your brain from time to time about massage business. Our local small business resouce is our library, and everything else is an hour or so away.

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massagefever 51 posts since
Feb 11, 2009

4. Re: As a sole proprietor Feb 26, 2009 4:19 PM

in response to: danalmt

What massage practice do you use? I will have another therapist renting space in my office now, but she will be a contractor.

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massagefever 51 posts since
Feb 11, 2009

5. Re: As a sole proprietor Feb 26, 2009 4:23 PM

in response to: instantv

I guess if I am going to be issuing a 1099 I probably need one huh?

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instantv 59 posts since
Jan 20, 2009

6. Re: As a sole proprietor Feb 26, 2009 4:56 PM

in response to: massagefever

You can also print out your 1099 from the irs.gov site. You will also want to make sure that you use an indendant contractor agreement. Which you can find on legal.com and other places online for free. This agreement will be very important for your files to avoid confusion or allow for disagreements in future.

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ForumsStarting a Business

This Question is Possibly Answered

As a sole proprietor

Feb 26, 2009 2:23 PM

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