Comments for How Does a TAXID# Change Things?

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Jul 19, 2011
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Having A Tax ID #
by: Steph

If you aren't changing the setup of your business in any way, (like from a sole proprietor to a corporation) then changing your tax ID number doesn't require you to fill out any additional or different tax forms than you would normally.

The main benefit to having a separate tax ID for your business is so that you can keep your personal social security number more secure. It simply differentiates you from your business.

The only difference it should make is that you would now use your business tax ID number for all business transactions and reporting instead of your social security number.

You can easilty apply onlne for a business tax ID # through the IRS.gov website.

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