I have a employer identification number (EIN) what tax form do i use to file taxes?
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i made around $5000.00 this year doing side jobs. i called the IRS and they gave me a (EIN) employer identification number and said to use that number when i file taxes this year. but one thing i dont no what form to use to file. can someone help me?
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Answer:
An EIN (employer identification number) and a TIN (taxpayer identification number) are practically the same. As for the comments that you don't need one unless you have employees, they are technically right. But with Identification Theft on the rise, you can use the EIN/TIN on Form W-9 (Request for Taxpayer ID) so the party you give the form to doesn't have your SS#.
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Other answers
Unless you formed another legal entity such as a corporation you just file the income and expenses on Form 1040, Schedule C. You show both the EIN and your SSN on the Schedule C. If the net profit is $400 or more, you attach Schedule SE to figure the self-employment tax. You don't technically need an EIN if you don't have employees, but it's a good idea to get one anyway as you can avoid scattering your SSN all over the place by using the EIN for business.
Bash Limpbutt's Oozing Cyst©
if you are a sole proprietor and don;t have any employees, you can just use your soc sec # and file a schedule C and SE with your 1040 tax return (don't forget to also file a state tax return for the business income)
Zarg222
You have to file form 1040 + schedule C (profit and loss from business). Of course, use professional tax preparer for your taxes. They know what you will need.
Go to IRS.GOV and download a Pub 17 to study up on taxes so you have an idea what it is you are doing. If you have no good grounding in math and legal matters you might consider going to a tax preparer who has studied the law and tax changes and can prepare a correct return for you the first time out of the chute. Never try to fly a plane unless you have a lot of training and experience under your belt.
acmeraven
Unless you have employees, you very likely didn't need the EIN, but having one isn't hurting anything. And if anyone who is going to pay you gives you a W-9 form to fill out, you can use the EIN rather than giving them your social security number. I assume your business is a sole proprietorship. You'll file a form 1040, with a shedule C of C-EZ, and schedule SE. Use your ss# on the forms, not the EIN, for tax id.
Judy
you can use the EIN or your SSN for filing Sch C on your 'side jobs' if you don't have employees or are incorporated, you did not need an EIN since your income is at least $5000, you will have self employment tax to pay, on Sch SE, all included with your 1040
tro
IRS doesn't just "give you" an EIN. You have to APPLY to it - and it's used to report tax information on your employees, if you have any.
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