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Daycare and Taxes All things related to Taxes and running a Daycare post here. Topics of tax exemptions, forms, filings, tax write offs, IRS etc.

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Old 01-10-2014, 04:54 AM
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Default W-10 Question

I plan to give my dc families receipts and W-10's for their 2013 totals. I have a question about the information I am to put on the W-10.

The IRS info says:
For individuals and sole proprietors, the TIN is a social security number (SSN).

Later in the same paragraph, it says:
For other entities, it is the employer identification number.

So here's my question: I am a sole proprietor. I have a registered business name and an EIN. I set up an EIN so that I wouldn't have to give out my personal SSN. Can I list my company name and my EIN on the form, even though I'm a sole proprietor? I'd rather go with the company information than my personal information, but just want to make sure this is okay. There is no instruction on the IRS form regarding a sole-proprietor using an EIN.
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Old 01-10-2014, 06:10 AM
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Interesting! Because when you apply for the EIN, they ask if you are a sole proprietor! I just did my W-10's and MMK entered my EIN where it says TIN. I'm pretty sure we can use the EIN. I'm going to follow this!
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Old 01-10-2014, 06:12 AM
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I had never noticed that. I thought you could use either or. I'm using my SSN for last year, but planned on getting an EIN this year.
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Old 01-10-2014, 06:44 AM
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I use my EIN, always have.
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Old 01-10-2014, 06:53 AM
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Quote:
Originally Posted by craftymissbeth View Post
I had never noticed that. I thought you could use either or. I'm using my SSN for last year, but planned on getting an EIN this year.
It only takes a couple minutes by internet/phone to receive an EIN.

http://www.irs.gov/Businesses/Small-...r-(EIN)-Online

If you do that today, you can give the parents your EIN now instead of your SSN.
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Old 01-10-2014, 09:06 AM
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Quote:
Originally Posted by melilley View Post
Interesting! Because when you apply for the EIN, they ask if you are a sole proprietor! I just did my W-10's and MMK entered my EIN where it says TIN. I'm pretty sure we can use the EIN. I'm going to follow this!
I know, weird. I'm an over-thinker and rule-follower, so I hate discrepancies.
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Old 01-10-2014, 09:07 AM
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Quote:
Originally Posted by MarinaVanessa View Post
I use my EIN, always have.
Good to know, thanks!
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Old 01-10-2014, 11:02 AM
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As a sole proprietor, the *legal* name of your business is your own name. Registering for an EIN allows you to use that number instead of your social security number, but your name doesn't change. You can put your business name as a DBA though (doing business as) - that's what I do. I always put "Crystal M Khan dba Home Away From Home Childcare"
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Old 01-10-2014, 02:01 PM
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There is no problem with getting and using an EIN as a sole proprietor.
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Old 01-16-2014, 06:45 AM
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I gave all of my parents my EIN on their W-10. I went through the IRS website and received an EIN. I then needed to get registered through the state to receive DHS payments and they gave me a TIN under which they are reporting payments made to me. Will these interfere with each other at all? Do I still just claim everything under my EIN?
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Old 01-16-2014, 07:27 AM
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Quote:
Originally Posted by rebekki78 View Post
I gave all of my parents my EIN on their W-10. I went through the IRS website and received an EIN. I then needed to get registered through the state to receive DHS payments and they gave me a TIN under which they are reporting payments made to me. Will these interfere with each other at all? Do I still just claim everything under my EIN?
No, these won't interfere with each other. Use your EIN on your federal business tax forms (Schedule C, 1040SE). Use your SS number on your state tax forms.
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Old 01-17-2014, 07:03 AM
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Originally Posted by TomCopeland View Post
No, these won't interfere with each other. Use your EIN on your federal business tax forms (Schedule C, 1040SE). Use your SS number on your state tax forms.
Thank you so much, that eases my confusion a whole bunch.
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