Do I Need an EIN Number?

Yes.  The End.

Just kidding.

The IRS, business license bureaus, taxation departments, and sometimes secretary of state offices require an identifying number for your business.  Without an EIN, your social security number is used, which causes identity theft concerns.  Also, obtaining an EIN is another way to distance yourself from your business in the interest of keeping your corporate veil intact.

The IRS provides a quick and simple way of obtaining a separate identifying number for your business, called an Employer Identification Number.  The application takes only a few minutes, the process is free, and most banks require the number to open a business account.

So what are you waiting for?  In the immortal words of Toy Story’s Woody, “if you don’t have one, get one!”