🎙️ Want deeper U.S. tax insights? Listen to more in-depth episodes on Spotify!
🎧 Listen Now on SpotifyEIN Benefits Explorer
Apply OnlineUnlock Your Business's Potential
Applying for an Employer Identification Number (EIN) with Form SS-4 is the first step. This guide shows you the powerful tax and financial benefits an EIN unlocks.
Why Get an EIN?
An EIN is more than just a number. It's the key to tax-advantaged business structures, powerful retirement plans, and crucial financial separation.
Tax-Advantaged Entities
Form an S Corp to potentially save thousands on self-employment taxes, or a Partnership/LLC for flexible tax planning.
Better Retirement Plans
Open a Solo 401(k) or SEP IRA. Make large, tax-deductible contributions and accelerate your savings beyond personal IRA limits.
Hire Employees Legally
An EIN is required to hire employees. Deduct their wages, benefits, and your share of payroll taxes as business expenses.
Separate Finances
Open a business bank account to simplify bookkeeping, protect your personal assets, and ensure you claim every deduction.
Business Structure Suggester
Your business structure has major tax implications. Answer these questions to see what might work for you. (This is for educational purposes, consult a professional.)
S-Corp Tax Savings Example
One of the biggest benefits of an EIN is the ability to form an S Corporation. See how it can reduce your self-employment tax burden compared to a sole proprietorship on a $100,000 profit.