Yes, sorry, EIN not EID :) On Feb 11, 2010, at 1:14 PM, Larry Kubin wrote:
> The last poster probably means EIN (Employer Identification Number), not EID > (which is something that the University of Texas uses). > > - Larry > > On Thu, Feb 11, 2010 at 1:05 PM, Jeff Bernier <[email protected]> wrote: > I'll weigh in on this one a bit. > > If you have been running as a Sole Prop and have clients that you do business > with annually exceeding $600 that business is suppose to provide you with a > 1099 at the end of the year. The question becomes, are they using your Social > Security Number (SSN) on the 1099 or are they using an Employer ID (EID) > that you obtained from the IRS. > > If they are using your SSN and they now have to change to an EID that may > require more paperwork for them on a one time basis to change the numbers. > Additionally however, if for some reason you are using your SSN and your > client is not providing you a 1099 each year as they should (yes there are > business out there that do that) changing to an EID may make it more > difficult for them to avoid giving you a 1099 annually. > > Just a thought, > > Jeff > > On Feb 10, 2010, at 5:07 PM, [email protected] wrote: > > > ooh good point about the impact on other clients. If it makes things a > > lot more complicated for them it's really a no-go. I will > > take this into account. > > > > thanks! > > > > Rob > > > > > > > > > > On Feb 10, 4:27 pm, Jan Triplett <[email protected]> wrote: > >> I know we are beating up on this issue that we have already discussed > >> in detail. > >> > >> I just have to ask if you have considered the administrative and tax > >> implications of having an LLC. It has an impact on your other clients > >> as well since you will have to bring them up to speed. They may have > >> to change their records, how you are reimbursed and the documents they > >> send you — assuming you have been a sole proprietor. They may not be > >> too happy about this. Creating more paperwork seldom makes people your > >> friend. > >> > >> You will have to change your banking documents also - checks, etc. - > >> at least usually you do. > >> > >> If you have to go to court, there is not as much case law to protect > >> you as there is in other legal formations. You have other > >> responsibilities to protect your right to call yourself an LLC > >> depending on which election you take. Courts have been known to pierce > >> the corporate veil of LLCs just as they have with corporations. > >> > >> I promise I will not say another word. > >> > >> This is just not something to enter into lightly. > >> > >> -- Here's to your success! > >> > >> Jan Triplett > >> COO Business Success Center > >> City of Austin Certified Green Business > >> Twitter > >> Linkedinhttp://ownersview.comhttp://runitright.biz > >> > >> On Feb 10, 2010, at 4:07 PM, [email protected] wrote: > >> > >>> I am working with a large client who can only make payments to an LLC. > >>> It's not a legal > >>> requirement, it's *their* requirement. I have no idea why. > >> > >>> That's the motivation. Not to get paid faster, liability, etc. If it's > >>> easy > >>> to do and not much of a headache, I don't have an issue doing it. > >> > >>> On Feb 10, 2:28 pm, Art Thompson <[email protected]> wrote: > >>>> There's no legal requirement to only do business with corporate > >>>> entities, > >>>> it's usually something that comes from the accounting dept. Logical > >>>> Things > >>>> operates as an S-Corp and gets paid REAL FAST (within 30 days or > >>>> less with > >>>> the majority of my clients). Basically, it's less paperwork for > >>>> them when > >>>> you're just another vendor as opposed to a freelancer, since they > >>>> potentially need to report how much they paid you, etc.. > >> > >>>> Oops, I'm contributing to the beating of this topic again! > >> > >>>> Art Thompson, Jr. > >>>> Logical Things - Web, Design & Marketing Solutions > >>>> 917-609-1158 [m] > >>>> 512-692-9865 [w]www.LogicalThings.com > >>>> twitter.com/LogicalThingswww.linkedin.com/in/LogicalThings > >> > >>>> On Wed, Feb 10, 2010 at 2:09 PM, [email protected] < > >> > >>>> [email protected]> wrote: > >>>>> For some bigger clients, it might be a legal requirement. Not sure > >>>>> 'zactly why, but it *does* happen. > >> > >>>>> On Feb 10, 12:48 pm, Aaron Ortega <[email protected]> wrote: > >>>>>> Like a legitimacy thing? > >> > >>>>>> Sent from my iPhone > >> > >>>>>> On Feb 10, 2010, at 12:46 PM, "[email protected]" < > >>>>> [email protected] > >> > >>>>>> > wrote: > >>>>>>> The reason is that some clients need it to *pay* you. Strange, I > >>>>>>> know. > >> > >>>>>>> On Feb 10, 10:02 am, Jan Triplett <[email protected]> wrote: > >>>>>>>> Why are you doing this? The reason I asked is that you can > >>>>>>>> always > >>>>>>>> move up the legal food chain moving back down is tough. There > >>>>>>>> are a > >>>>>>>> lot of reasons not to do this. I am not a lawyer nor to I > >>>>>>>> pretend to > >>>>>>>> be on on TV or elsewhere but my experience with those who > >>>>>>>> elected LLC > >>>>>>>> when not necessary is a mixed bag. > >> > >>>>>>>> Just a thought worth considering. > >> > >>>>>>>> -- Here's to your success! > >> > >>>>>>>> Jan Triplett > >>>>>>>> COO Business Success Center > >>>>>>>> City of Austin Certified Green Business > >>>>>>>> Twitter > >>>>>>>> Linkedinhttp://ownersview.comhttp://runitright.biz > >> > >>>>>>>> On Feb 10, 2010, at 8:45 AM, [email protected] wrote: > >> > >>>>>>>>> I know some of you out there have probably done the same. Any > >>>>>>>>> advice? > >>>>>>>>> Would love to hear! > >> > >>>>>>>>> Thanks, > >> > >>>>>>>>> Rob > >> > >>>>>>>>> -- > >>>>>>>>> Our Web site:http://www.RefreshAustin.org/ > >> > >>>>>>>>> You received this message because you are subscribed to the > >>>>>>>>> Google > >>>>>>>>> Groups "Refresh Austin" group. > >> > >>>>>>>>> [ Posting ] > >>>>>>>>> To post to this group, send email to [email protected] > >>>>>>>>> Job-related postings should followhttp://tr.im/ > >>>>>>>>> refreshaustinjobspolicy > >>>>>>>>> We do not accept job posts from recruiters. > >> > >>>>>>>>> [ Unsubscribe ] > >>>>>>>>> To unsubscribe from this group, send email to > >>>>> [email protected]<refresh-austin%[email protected] > >> > >>>>>>>>> [ More Info ] > >>>>>>>>> For more options, visit this group athttp://groups.google.com/ > >>>>>>>>> group/Refresh-Austin > >> > >>>>>>> -- > >>>>>>> Our Web site:http://www.RefreshAustin.org/ > >> > >>>>>>> You received this message because you are subscribed to the Google > >>>>>>> Groups "Refresh Austin" group. > >> > >>>>>>> [ Posting ] > >>>>>>> To post to this group, send email to [email protected] > >>>>>>> Job-related postings should followhttp://tr.im/ > >>>>>>> refreshaustinjobspolicy > >>>>>>> We do not accept job posts from recruiters. > >> > >>>>>>> [ Unsubscribe ] > >>>>>>> To unsubscribe from this group, send email to > >>>>> [email protected]<refresh-austin%[email protected] > >> > >>>>>>> [ More Info ] > >>>>>>> For more options, visit this group athttp:// > >>>>> groups.google.com/group/Refresh-Austin > >> > >>>>> -- > >>>>> Our Web site:http://www.RefreshAustin.org/ > >> > >>>>> You received this message because you are subscribed to the Google > >>>>> Groups > >>>>> "Refresh Austin" group. > >> > >>>>> [ Posting ] > >>>>> To post to this group, send email to [email protected] > >>>>> Job-related postings should followhttp://tr.im/refreshaustinjobspolicy > >>>>> We do not accept job posts from recruiters. > >> > >>>>> [ Unsubscribe ] > >>>>> To unsubscribe from this group, send email to > >>>>> [email protected]<refresh-austin%[email protected] > >> > >>>>> [ More Info ] > >>>>> For more options, visit this group at > >>>>> http://groups.google.com/group/Refresh-Austin > >> > >>> -- > >>> Our Web site:http://www.RefreshAustin.org/ > >> > >>> You received this message because you are subscribed to the Google > >>> Groups "Refresh Austin" group. > >> > >>> [ Posting ] > >>> To post to this group, send email to [email protected] > >>> Job-related postings should followhttp://tr.im/ > >>> refreshaustinjobspolicy > >>> We do not accept job posts from recruiters. > >> > >>> [ Unsubscribe ] > >>> To unsubscribe from this group, send email to > >>> [email protected] > >> > >>> [ More Info ] > >>> For more options, visit this group > >>> athttp://groups.google.com/group/Refresh-Austin > > > > -- > > Our Web site: http://www.RefreshAustin.org/ > > > > You received this message because you are subscribed to the Google Groups > > "Refresh Austin" group. > > > > [ Posting ] > > To post to this group, send email to [email protected] > > Job-related postings should follow http://tr.im/refreshaustinjobspolicy > > We do not accept job posts from recruiters. > > > > [ Unsubscribe ] > > To unsubscribe from this group, send email to > > [email protected] > > > > [ More Info ] > > For more options, visit this group at > > http://groups.google.com/group/Refresh-Austin > > -- > Our Web site: http://www.RefreshAustin.org/ > > You received this message because you are subscribed to the Google Groups > "Refresh Austin" group. > > [ Posting ] > To post to this group, send email to [email protected] > Job-related postings should follow http://tr.im/refreshaustinjobspolicy > We do not accept job posts from recruiters. > > [ Unsubscribe ] > To unsubscribe from this group, send email to > [email protected] > > [ More Info ] > For more options, visit this group at > http://groups.google.com/group/Refresh-Austin > > > > -- > Larry Kubin > > -- > Our Web site: http://www.RefreshAustin.org/ > > You received this message because you are subscribed to the Google Groups > "Refresh Austin" group. > > [ Posting ] > To post to this group, send email to [email protected] > Job-related postings should follow http://tr.im/refreshaustinjobspolicy > We do not accept job posts from recruiters. > > [ Unsubscribe ] > To unsubscribe from this group, send email to > [email protected] > > [ More Info ] > For more options, visit this group at > http://groups.google.com/group/Refresh-Austin -- Our Web site: http://www.RefreshAustin.org/ You received this message because you are subscribed to the Google Groups "Refresh Austin" group. 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