Hi, I own an apartment building with 4 apartments, I'm trying to fill out form 1099-NEC to send it to a plumber who did some work, and it was over $600.00. I already received his EIN but, on the form, it's asking for my EIN number, but I don't have one. Can I use my social security number instead?
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@victorvilla wrote:
Can I use my social security number instead?
Yes.
But why give out your Social Security number? You can get an EIN in a few minutes on the IRS web site.
Apply for an Employer Identification Number (EIN) Online
As long as you do not pay employees (contractors are not employees), you don't need an EIN for your business. However, getting an EIN is free, and saves you having to give your personal SSN to contractors.
I would recommend you obtain and use an EIN on any tax reporting documents you may issue to vendors or clients. Especially since it's free and takes at most, 10 minutes to get on line.
I've been self-employed for will over 15 years now. Under no circumstances and with no exceptions will I give out my SSN. It's my business EIN or I take my business elsewhere.
If your SSN is compromised, that can ruin your entire life. Whereas if the EIN is abused, it only affects the business and is significantly easier to deal with the fallout should it actually be compromised and abused.
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