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    4 Replies Latest reply on Oct 21, 2007 9:03 PM by WEBillions

    Tax ID # help??

    Dwaz39 Wayfarer
      My friend and I have an idea for a service to provide to some High Schools and Colleges in our area. When we invoice them out, I assume since they are non-profit, that they will ask for a Tax ID number. If we are set up as a partnership or something like that, do we still need one. I thought I remember from school that some partnerships don't need to be registered with the IRS. Can someone please provide some guidance on this subject??

        • Re: Tax ID # help??
          DomainDiva Ranger
          Any business needs a tax ID number. Your accountant can help you.

          As far as some partnerships not being required to register with the IRS, if you are making money then you need to be registered. Even a non profit entitity has an id number.
          • Re: Tax ID # help??
            idealtech Newbie
            When we started our business in Florida, we did a tremendous amount of research on the web. The state website is awesome. Look for one in your state. Are you sure a "partnership" is the best way to go? Will you have liability issues with your type of company. Make sure when you set everything up that you protect yourself. It's worth going thru the motions, get registered in your state, get a tax id#, etc. If it is all to overwhelming hire an attorney or accountant to help you out. You will invest a small amount of money that will pay off in the end. I'm not a professional, by any means, just a small business with some good mentors and connections to help us be successful (food on the table). BTW....if you are looking to avoid the IRS, how do you plan on working for goverment agencies like schools and colleges, just a thought. (you invoice them they write you a check, paper trail) Good Luck
              • Re: Tax ID # help??
                WEBillions Adventurer
                Yeah, you definitely need a tax idea. And I agree, you might want to consider an LLC. But, if you want to test the waters first to make sure you can make some money, you can start with a partnership. In some states, an LLC or other forms can some with a heavy yearly tax fee. But don't hold off too long, because yo will need the protection.
              • Re: Tax ID # help??
                LUCKIEST Guide
                When you have an idea for a service, write a BUSINESS PLAN.
                A business plan is a document explaining your plans to develop a successful business.
                To get a Federal I D Number go on line to I R and follow the instructions.
                Good luck, LUCKIEST