Help Me With Sign New York Banking Form

Establish ein field

in this video I'm going to show you guys how to create your free a I n for your business first thing you want to do is make sure you are at the right website now I will not take away from other websites that I know do this for you that charge of fee there are some benefits there are some take backs to having someone else do this if you have used I've used Legal Zoom in the past if you use what other ones are there I mean there's tons of them but this is not to take away from that process or that websites that work like that this is to show you how you can do it for free and it only takes a few minutes so first thing you want to do is make sure you go to irs.gov that's IRS dot 0 v so once you are on the website where you see all this stuff right here right what you want to do is you want to look for let's make sure I'm getting the right thing its 1099 no we don't need that one and we are looking for AI ends right there so you're going to look for information for me I n will click on that boom popular so once you click on the popular AI end it'll bring you to a page that I'll explain yeah I am which is short for employer identification number online so here it goes through step one to determine your eligibility sorry about that you may apply for AI n online if your principal business is located in the US so if you're out the country you will have to go to a different process but if you're in United States you can apply for your EIN right here the person applying online must have a valid taxpayer identification number so you must have a social security number you must be a human being right you are limited to 1 iin per responsible party per day now this was something that I liked because the responsible party is the person who ultimately owns or controls the entity or who exercises ultimate effective control over the entity unless the applicant is a government entity the responsible party must be an individual example a natural person not an entity so this was something that I found was pretty cool is you could come on here you can create as many aeons as you want the limit is one per day so you can make 365 eons per year if you wanted to so after you realize you're a u.s. agent I mean a u.s. agent a u.s. person you have a social security number move on this step to understand the online application you must complete this application in one session as you will not be able to save and return at a later time now your session will expire after 15 minutes of an activity and you will need to start over so make sure when you're doing this you set aside you know five to ten minutes to not be distracted to not have to stop because you will have to complete this and step three is easy submit your application after all validations are done you will get your EIN immediately upon completion you can then download save and print your EIN confirmation up so there's an explanation and go over to taxes some benefits and breaks down everything for you guys I'm going to go ahead and create a ien because like I said we can create one every day so I'm gonna create one so I'm gonna click apply now systems for authorized use only you'll see this pop up this just gives you a breakdown and some information I'm going to click OK and make sure you read that all right so about the ein assistant you must complete this application that you already heard that and here's some restrictions make sure you read the restrictions to make sure you aren't and you know you aren't restricted so let's click on begin application alright so the first thing I'm going to do you see that's five easy steps we're gonna identify authenticate put the addresses details and in the confirmation so but what type of legal structure is applying for an EIN before applying for AI n you should have already determined what type of legal structure business or type of organization is being established so here we're going to choose the type if you don't see your type select view additional types but the types that we use are all right here so proprietor partnerships corporations limited liability company which LLC estate trusts and there's additional so for this instance we're gonna use LLC and I suggest everybody does that now get with your tax expert do your research on these different forms of organizations they all have their different benefits here you'll see we've chosen a limited liability company what is this LLC is a structure allowed by state statute LLC is form on file an article's organization with the state secretary of the state an LLC must be unique in a state so you guys read over this and also you can have two or more members or one member LLC can have an unlimited number of members an LLC members may include individuals corporations other LLC's or foreign entities so what an LLC is not LLC's are not incorporated and do not file articles or / incorporation if you ever need to change your type of structure we make it recommend that you do so now otherwise you'll have to start over and re-enter your information so make sure you have the right one that you want and I'm using the LLC I want to click continue all right how many members are in your LLC so for this one it's only going to be me I'll put one you can put as many as you want please select the state where the business is based and mine's is going to be Delaware all right please confirm your selection due to the number of members in your liability limited liability company you are considered a single member liability company and the type structure applying for your EIN since you are a single member you will initially be classified as a disregarded entity for the purposes of filing a federal tax return now guys this is gonna get really detailed and if you want some more information on the tax purposes and the tax benefits which there's over a thousand I have a book that breathes all of the tax benefits you get for having an LLC so this is why we want all of our people to have this because there's so many benefits that come our way right that we'll just let him walk out the door so this LLC puts us in a position to benefit from so much especially tax wise so read over all this stuff guys make sure you have a clear understanding of everything here um if you need to change so we're gonna click on continue my page is going crazy right now you see give me one second and you know what I'll log out and we'll keep like that why is the LLC requesting an e I am you know what let me go ahead and pause this real quick second log out of Facebook out of that so choose one reason that best describes why you're applying for a I am which you're starting a new business you want to hire some employees for banking purpose you're going to change your type of organization or you want to purchase active business so for this one we're gonna start a new business I'm gonna click continue all right please tell us about the responsible party so this is your name or whoever the LLC is under I'm gonna put my name I don't have a suffix so here is going to be my social security number and I'm gonna pause this section so you guys don't see this but I'll to choose one I am the owner right so I mean one second I'll put my social security number in and I'm gonna click continue after I insert it so this is the part where you put your social security number in now once you enter your social security number it's gonna ask you for your street address and you want to make sure this is the address for the state you're using so I'm going to use you guys would be sinning any information to me so I'm actually gonna go ahead and fill this out and pause this session so here's where you choose your state you guys see I'm using the state that I'm applying for my LLC so you want to make sure that this is a physical address must be a u.s. address do not enter a Pio box if you are military and you're using military addresses you can click this link right here so make sure that this is a physical address it's very important if you have a business address you may use that one but no appeal boxes I'm gonna pause this so I can finish putting my correct information and you should do the same thing and down at the bottom it says do you have an address different from the above where you want your mail to be sent so you can actually do this if you want to enter another address on which I do the same because I'm living in Georgia so I get all my mail sent to Georgia but my LLC is registered in Delaware so here put your information in I'm going to pause and complete all right so once you enter your address you'll be taken to the next page where it will verify your physical location we have reviewed the physical location and checked it against our database so the IRS has actually found this address right to verify so this looks correct this is actually the address someone except the database version so what is the mailing address of the LLC so this is where you want to put where your mail is to be delivered to so I'm actually gonna put my business address which is that right there and sweet Lana all right so once you have the address correct make sure it's there you're gonna click continue it's gonna verify again and yes that is the right one I'll click on accept all right so now this is the part where you're gonna choose the legal name of your LLC so tell us about the LLC required fields right now I'm going to choose you know which one I'm going to do legal name I'm going to register sue civilian oh you can also do trading the trade name doing business as and then this is only if it's different from the legal name so if you have an LLC already and you want to do business as you can put that doing business as name right there so if you had a previous LLC and here you're registering you're doing business name as you can put that here County where your LLC is located that's Newcastle State yep State Territory where articles of organization are or will be filed so I'm gonna put Delaware everything is in Delaware LLC start date now if you're starting off you can put today's date or the date you're starting I've been in business for a while so I'm actually gonna put the beginning of the year all right so once I put the date in it's going to take me to the next one so some more fields does your business own a highway motor vehicle with the taxable gross weight of fifty five thousand pounds or more no I'm not a truck driver does your business involve gambling or wagering no we don't gamble as your business need to file Form 720 which is quarterly federal excise tax returns no we don't need to if you're unsure about that you can click the links it'll break everything down that's your business sell or manufacture alcohol tobacco or firearms no not this business do you have or do you expect to have any employees who receive forms w-2s in the next 12 months so this right here is important well you can always change and update it but if you plan to have employees I suggest just putting yes right now right here you're gonna describe your employees what is the first date of way just now if you don't have any employees guys let me just go back and show you you don't have any employees sorry about that but if you don't have any employees you don't have to worry about this section but I plan on having employees so what is the first date wages or annuities were or will be paid so I'm gonna put the end of the year get myself to the end of the year to get some employees on deck no but if applicant is withholding an agent answer the date income will first be paid to a non-resident alien so if somebody else is doing this for you they're gonna enter the dates you guys don't have to worry about this because you're doing this year so what is the highest number of employees expected in 12 months expect it right so that doesn't mean you have to be accurate it's just expected so number of agricultural employees I don't have anybody agricultural I'll put a number of employees at least to write the total number of employees must be at least one do you expect your employee tax liability to be 1,000 or less in a full calendar year so am I gonna be paying taxes on my employees will it be less than $1,000 this year yes because it's only me and this can always change guys by selecting yes you're electing to file an annual employment tax return form 944 if you prefer to file a corley return form 941 then select no so I'm ok with actually you know what yes you're electing the following annual employment tax return I'll put yes because I don't want to file a quarterly so we'll go with yes what does your business organization do choose one oh so here's you're gonna choose what industry your business is in so I got we have here we have combinations constructions finance food service health care insurance manufacturing real estate rental releasing retail associate assistance transportation warehouse wholesale other and I'm gonna click other because this is going to be my consulting business so make sure you read these explanations here guys if you fall in one of these lines you just choose like I have a Finance LLC I did that yesterday so today I'm going with other click continue now please choose one of the filings that best describe your primary business activity now here's the one I was looking for right here consulting choose mines click other continue do you provide operating advice and assistance to business and organizations yes please specify type of consulting all right so what we are is a digital marketing so that's what we do we help people build their brands using digital services so I want to register my real name is because you know we're not my real name but the name I use because I do business at Seussville Ianno so how would you like to receive your EIN confirmation letter so you can receive it online which is the fastest I suggest everybody do this you want to make sure you have Adobe Reader or you can receive it by mail and this takes about four weeks so the smart thing we'll do is to receive the letter online and just save it so I'm gonna click continue and now you guys see it will verify it as a summary of your information please review the information you are about to submit if any of the information below is incorrect you will need to start a new application so make sure that everything is good once you know that it is good you can go ahead and click Submit I want to make sure all my stuff is good everything is good all of that is good I'm gonna click Submit [Music] done and now I have my new AI n so you guys can see you see bucking scroll out it how easy this is and I don't even want you guys make sure you aren't stealing my information but I just wanted to show you guys how easy it was to get your EIN so let me make sure then you'll get a confirmation letter that will tell you everything as well so you go through here save this and you'll be able to use your EIN to open up bank accounts right you'll be able to use your EIN instead of using your social security number so you'll actually want them get tax you can pay taxes so many benefits to have an EIN I'm gonna go over another video just letting you guys know some of the many benefits that we have just by using our businesses so I hope this video was informative irs.gov very simple start your EIN for free takes ten minutes to do it right and as soon as you're done you get your EIN so you can open your business if you have any questions at all feel free to go to elevate financial comm which is li v8 I'll bring it up so you guys can see it a lot-- v8 bring it on this one [Music] free to go here if you have any questions you guys can reach out if you want to know more about the ein how you can really come up you really want to build your business brand start to build some equity in your company there's a lot of things we can help you guys with but the first start is to get your EIN register on iOS gov get your EIN and start taking advantage of all the breaks we have here so that's all I have for you guys now just Seussville Ayano better known as Jamar Johnson when we talking business and I see you guys at the top because the bottle is way too crowded have a great day