- June 29, 2018 9:56 pm
Without an EIN, you are forced to combine your business and personal funds. This opens you up to increased liability and puts your personal assets at much greater risk. It is highly encouraged that you obtain a federal EIN number and open a separate bank account, so you can keep your business and personal transactions separate.
Avoid the hassle and headache of getting an EIN by letting the ZenBusiness team secure your number with the IRS and deliver your final paperwork.
Banks and credit unions require an EIN to open a bank account and it’s also helpful when trying to obtain financing for your business.
You need an EIN if you are hiring employees or offer retirement plans since this is the number the IRS uses for payroll tax remittances and federal taxes on 401(k) plans.
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