topic Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN? in Get your taxes done using TurboTax

Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN?

christabelle-ste — Wed, 21 Apr 2021 17:35:56 GMT

The concern is to know if requesting EIN will generate other accounting implications or Tax liabilities than just using the SSN

Re: Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN?

rjs — Wed, 21 Apr 2021 17:54:50 GMT

As long as you identify yourself as a sole proprietor when you apply for an EIN, using the EIN will not create any additional accounting implications or tax liabilities. You still use your Social Security number on your tax return, but you enter your EIN on Schedule C when TurboTax asks if you have an EIN.

Re: Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN?

christabelle-ste — Wed, 21 Apr 2021 18:35:21 GMT

Thanks for the prompts answer.
I will give more time if someone else has interesting advice to add to this before marking the topic as RESOLVED

Re: Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN?

rjs — Wed, 21 Apr 2021 20:27:49 GMT

Maybe you already know this. The main advantage of having an EIN is that you don't have to give your Social Security number to clients or customers. If they ask for your tax ID number, or ask you to fill out a Form W-9, you can give them your EIN instead of your SSN.

Re: Hi, as a self-employed, are there any differences between using SSN as an identifier or requesting EIN?

christabelle-ste — Thu, 22 Apr 2021 01:44:20 GMT

Thanks a lot for your kind reply