Stuart Bronstein wrote:
- quote -

Check; and double check.

The business has its EIN, and the plan it's own/separate
EIN.

ChEAr$,
Harlan Lunsford, EA n LA

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Rich Carreiro wrote:
- quote -

But of course the solo 401k plan also gets its own and
separate EIN.

ChEAr$,
Harlan Lunsford, EA n LA

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johnl[at]simone.iecc.com (John L) wrote:

- quote -

That's what I thought. I hope that settles the issue for Rich.

Stu

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"Stuart Bronstein" <spamtrap[at]lexregia.com> wrote
- quote -

Nope. That EIN is for the business. They can use it to
identify the business, for payroll reporting, etc and so on.

--
Paul A. Thomas, CPA
Athens, Georgia

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- quote -

No, the IRS is quite clear that one entity has one EIN. For
some reason they ask you why you want the EIN in the first
place, but once you have it, you use it for anything the
entity does.

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >

Stuart Bronstein <spamtrap[at]lexregia.com> writes:

- quote -

I have no idea. That's what I'm trying to find out.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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Rich Carreiro <rlcarr[at]animato.info> wrote:
- quote -

So if you get an EIN for one purpose, you can't use it for
another proper purpose, and have to get a second EIN for the
same business entity?

Stu

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"Paul Thomas, CPA" <paulthomascpapc[at]bellsouth.net> writes:

- quote -

To open a solo 401(k), (at least with Fidelity), the
custodian requires that the "employer" have an EIN,
even for sole proprietors. So she got an EIN. The
"type of entity" given on line 8a was "sole proprietor"
and the reason given on line 9 "created a pension plan".

- quote -

On the paperwork to open the solo 401(k), the EIN was
used in the "Employer information" block.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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"Rich Carreiro" <rlcarr[at]animato.info> wrote:

- quote -

If it is a legitimate sch C, which could be an LLC, it can
have its own EIN.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] > > -----> real address on hobokeni or hobokenx <-----

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"Rich Carreiro" <rlcarr[at]animato.info> wrote
- quote -

I might not fully understand what happened, but the EIN is
for her "business" or for the Solo 401K plan?

If for her business, then she can utilize that EIN as you
are suggesting.

If the EIN identifies the plan, then it can't be used by her
business for business earnings.

--
Paul A. Thomas, CPA
Athens, Georgia

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- quote -

I've been doing that for a decade, giving people a W-9 with
my EIN, then reporting the income on Sched C with that EIN.
Works fine for me.

- quote -

The IRS says that if you're a sole proprietor you use the
same EIN for all your businesses.

R's,
John

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Rich Carreiro <rlcarr[at]animato.info> wrote:

- quote -

A sole proprietor is allowed to have an EIN and use it for
the business. So I don't see why that would be a problem in
her case.

Stu

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >

A relative (a published author) is going to be doing some
consulting. She does plan to talk to a lawyer and a tax pro
about what form of business to ultimately use (consulting
workshops she's gone to recommend creating either a S-Corp
or a LLC because many companies, especially bigger ones, can
be very reluctant to contract with an individual). However,
for the near-term, she'll be a sole proprietor in her
consulting work.

Because of the book, she actually already is a sole
proprietor. She has previously opened a solo 401(k). As part
of opening that, she had to apply for an EIN because an EIN
is explicitly needed for the "plan administrator" part of
the solo 401(k) paperwork.

Now, she's not thrilled about having to give out her SSN
when she does her consulting gigs. Can she legitimately
instead give out the EIN she already has? (And then would
she put that EIN on her consulting Sched C?) If not, can she
apply for another EIN (reason being "starting new business")
and legitimately give that out to clients (and use it on the
consulting Sched C)?

Or is the only way to get out of giving out her SSN is to
form a corp or LLC and have the entity contract with the
client, giving the entity's EIN to the client?

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ------------------------------------------------------- >