Posted by TnNotary on 1/6/06 7:55am
Msg #86532

EIN

What would be the reason for using an EIN as opposed to your SS#?
Is it just for security reasons? I would appreciate all your opinions.
I have been a doing signings for 4 years part time and always just used my SS#.
Thanks all in advance.

TN Notary

Reply by Charm_AL on 1/6/06 7:57am
Msg #86533

I use it for protection of my ss#. I've signed up with many companies online that require that info.

Reply by TnNotary on 1/6/06 8:05am
Msg #86535

Thanks.
Have a great day!

Reply by newlysmomva on 1/6/06 8:05am
Msg #86537

An EIN is if you are an LLC, corporation, etc. (business entity).

Reply by Charm_AL on 1/6/06 8:06am
Msg #86538

newly...

individual also.

Reply by PAW_Fl on 1/6/06 8:15am
Msg #86542

Though an EIN is required for a business entity, it is also for use by sole proprietors as well. Not only as a protection of one's SSN, but reporting income against and EIN allows for better record keeping in separating personal income from business income.

One of my biggest pet peeves is all these online places to sign up with SSes and TCs. They provide a form to fill in, but is that form secured? No!! I would never provide any personal information (like my SSN) on an unsecured website. Entering your SSN on these web pages is an open invitation for anyone to get your number. Once they have it, you life can be ruined for many years.

Reply by celeste/ca on 1/6/06 11:02am
Msg #86603

I agree!! Never give your social security number to anyone unless for a home loan or getting a credit card. These people who want the number could care less whose hands it gets into, and that is when trouble can begin.