Call Us Now: +1 (877) 330-2677 Live Chat: ONLINE NOW            
https://d25eic0jctudgb.cloudfront.net/images/site/general/answers-to-answers-8743d0241f5d8c2c996225efe2063f89
https://d25eic0jctudgb.cloudfront.net/images/site/headlines/articles.jpg-5fa541d76bf4be9016b1176147b3bc96

EIN without LLC

Asked by: mj - 29 July, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/default.png-f1597c1da25f30f8c1a941405e8391c8 What are the benefits of getting an EIN without registering as an LLC? I currently freelance my services but would like to expand into clothing retail and then importing. The business will still just be me, at least for some time.
Answered by: Ray Albert - 1 August, 2012
https://d25eic0jctudgb.cloudfront.net/images/site/avatars/194.jpg-630c771619e92bede7e6f696b56767b9 MJ,

I suppose the advantage of having an EIN as a sole proprietor (without filing an LLC) would be that you would save on the registration and - in many states - maintenance fees of having the LLC.

However, by having an LLC you would enjoy the benefit of limiting the liability of the business only to business owned assets. This effectively separates your personal property from the business, which if god forbid your business was ever sued, may protect your personal finances.

It would definitely be a good idea to consult your business plan with a licensed attorney to understand the various implications of having registered legal entity vs. just using an EIN as a sole proprietor.

Comments:

We Want To Connect With You!

Social Media is increasingly the preferred method for businesses to connect with their clients, peers and customers. We are dedicated to share information and useful tools to help you grow your business.

Like us on Facebook, follow us on Twitter, and let's begin the exchange to Help Grow America One Business at a Time - starting with yours!

https://d25eic0jctudgb.cloudfront.net/images/site/general/payment-methods-footer-052a63251a379d6e5ece1801f07470fc Official PayPal Seal SecurityMetrics for PCI Compliance, QSA, IDS, Penetration Testing, Forensics, and Vulnerability Assessment