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Write beneficiary EIN

hey this is attorney elizabeth weinstein and today we're going to talk about whether or not you need an ein for each type of business that you have so it's very common for a business owner to have multiple lines of business you may have multiple youtube channels multiple websites multiple programs multiple kind of divisions of your business and you may be wondering do you need to get a ein for every single business line or every single project that you have because in your head you kind of think of them as separate businesses so first let's make sure we're on the same page about an ein an ein is an employer identification number that you get from the irs from the internal revenue service in the united states that number is for a different a number of different purposes one is if you have employees that's how you're going to file all your employment tax stuff but it's also the tax number for that business you're going to use that number when you get your business license you're going to use it for state stuff you're going to do it for is it for all kinds of filings think of it as the social security number for your business so whether or not you need a new ein for different aspects of your business depends upon are they different legal entities or just different divisions of your business or projects inside your business so what do i mean by a legal entity a legal entity is a sole proprietorship which is just you as a human person having a business a partnership multiple owners who together are operating business nation or llc or a corporation could be an s corp or a c corp each of those legal entities need their own ein generally speaking however if you have multiple projects that are underneath one of those legal entities they don't need their e-own eim because they're not separate legal entities so it's very common for someone to form an llc and have multiple things under it they have one llc that covers their youtube channel it covers this website it covers that website it covers their consulting work you only need one ein for all that you may even do the bookkeeping separately you may have separate bank accounts for the different businesses but there are going to file one tax return for that llc and in that case you only need one ein however if you formed a separate legal entity for your website businesses from your consulting business then each of them will need their own ein the same thing if you actually did dbas for your different projects so you're a sole proprietor you haven't formed any sort of special legal entities just you as the business owner and you have a dba for this website you have a dba for your consulting work you have a dba for this project over here...