Daycare.com Forum
Daycare and Taxes>W-10 Question
AcornMama 04:54 AM 01-10-2014
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.
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.
melilley 06:10 AM 01-10-2014
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!
craftymissbeth 06:12 AM 01-10-2014
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.
MarinaVanessa 06:44 AM 01-10-2014
I use my EIN, always have.
Blackcat31 06:53 AM 01-10-2014
Originally Posted by craftymissbeth:
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. 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.
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.
AcornMama 09:06 AM 01-10-2014
Originally Posted by melilley:
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.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!
AcornMama 09:07 AM 01-10-2014
Originally Posted by MarinaVanessa:
I use my EIN, always have.
Good to know, thanks!I use my EIN, always have.
inshakhan 11:02 AM 01-10-2014
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"
TomCopeland 02:01 PM 01-10-2014
There is no problem with getting and using an EIN as a sole proprietor.
rebekki78 06:45 AM 01-16-2014
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?
TomCopeland 07:27 AM 01-16-2014
Originally Posted by rebekki78:
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.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?
rebekki78 07:03 AM 01-17-2014
Originally Posted by TomCopeland:
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.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.