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Financial Planning / Tax Strategies


Subject:  Re: SSN vs EIN Date:  6/27/2013  11:41 AM
Author:  TMFPMarti Number:  118764 of 131086

I have my own business as a sole proprietor. I have read at several places online the suggestion to get EIN to give to clients instead of my SSN.

Is that good advice?

I think it is, given what one hears about identity theft. The instructions for Form W-9, which is what you use to inform payers of your TIN, say that the IRS prefers you use your SSN, but if you have an EIN that's fine.

Schedule C only asks for SSN. I don't see a place to also put the EIN so the IRS can match up the 1099s and my tax return.

See item D on Schedule C. Don't worry about IRS matching. They're not going to be upset if you report more income than was reported to them on 1099's.

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