Thursday, November 27, 2014

Starting a business and need help setting it up with the irs? -

I m starting a massage therapy business and I m trying to set up an account with the irs but I m confused I think I need a EIN but all the answers to these questions are No Do you have employees?Do you operate your business as a corporation or a partnership?Do you file any of these tax returns: Employment, Excise, or Alcohol, Tobacco and Firearms?Do you withhold taxes on income, other than wages, paid to a non-resident alien?Do you have a Keogh plan?Are you involved with any of the following types of organizations?Trusts, except certain grantor-owned revocable trusts, IRAs, Exempt Organization Business Income Tax Returns Estates Real estate mortgage investment conduits Non-profit organizations Farmers cooperatives Plan administrators In the near future I m going to hire a receptionist so I guess one would be yes but not right now. The only income the business gets is the money people give me from the massages I give them which has to be taxed right? I m just confused a little Do I need an EIN even tho all the answers to the questions are no or do I need to file with another method that I havent found on the irs website yet?

I would go ahead and get an EIN, that way you have it if you need it in the future. Really no downside to doing so

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