Friday, May 15, 2020

How to Get a Federal Tax ID Number

Anyone who operates a business may be required to by the  Internal Revenue Service  (IRS) to get an Employee Identification Number, also known as a Tax ID Number. Just as a  Social Security  number is used by the  IRS  to identify individual taxpayers, the unique EIN is used to identify businesses. If the form you are filling out asks for your  federal  Employer Identification Number (EIN)  or Federal Tax ID Number, and you dont have one, its time to ask yourself: Do you really need an EIN, and if you do, how do you get one? The IRS requires businesses to provide their EIN on all tax documents and forms. Not all businesses need an EIN, but if yours does, the IRS offers several methods to get one. Does Your Business Need an Federal Tax ID Number? Any business offering products or services that are taxed in any way must get a federal tax ID number. If your state taxes personal services, or if you are required to collect sales taxes on your sales, you need an EIN. All the government forms you will be required to file for your business will require either your EIN or Social Security number. With a few exceptions, any business that has employees or pays any kind of federal, state, or local taxes will need an Employer Identification Number. Apply Online for an EIN The quickest way to apply for an EIN is online through the IRS websites secure  EIN Assistant  page. You will be given your EIN immediately after completing the short application form. After you complete the online application the IRS will create your new EIN, which you can start using immediately. Youll get an IRS document download that confirms that your application was successful and provides your EIN. Save a copy on your computer and to print one for your records in case you forget the EIN. File for an EIN by Fax or Mail The IRS also takes applications for an EIN via fax or mail. For these methods, youll need to fill out the IRS Form SS-4  and contact the appropriate office, depending on where you live. Anyone whose principal business is located in one of the 50 states or the District of Columbia can file for an EIN using: Internal Revenue ServiceATTN: EIN OperationCincinnati, OH, 45999Fax: (855) 641-6935 When applying by fax, include a return fax number so the IRS can respond with your EIN within four days. By mail, the timeframe for the IRS to process the application is four weeks. Get a Federal Tax ID Number by Phone Only international applicants are allowed to apply by  phone,  and must answer questions regarding the SS-4. These applications can be completed by calling 267-941-1099. Essential Information for All EIN Applications The EIN application process requires some basic information, including: The type of EIN you are applying for, such as a  sole proprietorship,  corporation,  LLC, partnership or estateReason for applying for the EIN, such as starting a new business, banking purposes or a range of other reasonsYour nameYour Social Security number A Few Federal Tax ID Number Tips If you lose or forget your EIN, you can always call the toll-free IRS Business Specialty Tax Line at 800-829-4933. An IRS representative will ask you for some identifying information, such as your Social Security number, to ensure you are the person authorized to receive the EIN. Once you have completed the application and the IRS has assigned an EIN, the number can never be canceled. However, if you ever decide you no longer need the EIN, the IRS can close your business account for you. If you need it again, the EIN remains available to you and will never be reassigned to anyone else by the IRS.

Wednesday, May 6, 2020

Designing A One Stop Shop For Aspiring Entrepreneurs

The mobile application is filled with different applications for practically any purpose that a user would need something for, from ordering car service to checking up on social media outlets, there is an application for it. A virtual entrepreneur mobile application is a great application to bring into the mobile market. The idea behind the application is to create a one-stop shop for aspiring entrepreneurs who need assistance into building their business form the ground up. This application main task is to assist users in the steps of getting their business off the ground giving them access to tips, tools, and resources that will allow them to successfully start a business. The application will be called â€Å"The Startup† since it’s assisting users in starting up their own business. The target users for this application are for particularly for college students ages 20 and up. According to, The Kauffman Index: Startup Activity National Trends 1, in 2014 the highest rate of new entrepreneurs entering the market by age was the 45-54 age group by 26.6%. The rate for age group 20-34 was 24.7%, which isn’t far from the highest rate but this rate has gone down since 1996 when the age group was the highest with 34.3%. There has been a decrease in new entrepreneurs ages 20-34, as we have entered the millennial time it has decreased. This decrease is because college students and young adults leave school and go start into starting their own businesses and is having trouble gettingShow MoreRelatedEntrepreneurship: Venture Capital and International Information Programs12997 Words   |  52 Pagessince. Many simply equate it with starting one’s own business. Most economists believe it is more than that. To some economists, the entrepreneur is one who is willi ng to bear the risk of a new venture if there is a significant chance for profit. 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Tuesday, May 5, 2020

Gender Stereotyping

Question: How do you feel about gender stereotyping? Whats your position on that issue? Answer: According to me, gender stereotype is an over-generalized and comparatively strait-jacket idea (Steffens, Buchner, Mecklenbruker, 2005) that is used for defining what is appropriate and normal for an individual based on the biological sex that he was born as (Dasgupta Asgari, 2004). This stereotyping according to me makes an individual weaker and unable to in their minds do tasks that otherwise if not for this stereotyping could have been done by them, such as a single parent looking for the partner to help raise children. It also gives fuel to the fire of discrimination that exists against the LGBT community. Reference Dasgupta, N. Asgari, S. (2004). Seeing is believing: Exposure to counterstereotypic women leaders and its effect on the malleability of automatic gender stereotyping. Journal Of Experimental Social Psychology, 40(5), 642-658. https://dx.doi.org/10.1016/j.jesp.2004.02.003 Steffens, M., Buchner, A., Mecklenbruker, S. (2005). Gender bias in fame judgments: Implicit gender stereotyping or matching study phase fame?. Psychonomic Bulletin Review, 12(3), 495-501. https://dx.doi.org/10.3758/bf03193794