Starting a sole proprietorship is a huge decision and doing it right is crucial to your success, taxes, and legal protection. While operating a sole proprietorship is fairly simple, there are some things you should know about starting and running one. At EZ Filing Solutions, we can help you with the filing and formation processes so you’ll see your business idea come to fruition.
A sole proprietorship is formed when a single person goes into business. This person is known as a sole proprietor. As a sole proprietor, you can enjoy the benefits of pass-through taxation and simple operation. The sole proprietorship is the simplest type of business and isn’t a separate legal entity from its owner.
If you want to operate under a different name than your personal name, you’ll need to register a doing business as sole proprietorship form. This simply shows your customers and the government that you’re running your business under a unique name as a sole proprietorship. EZ Filing Solutions can help you submit a sole proprietorship registration with a DBA to your local county or city government agency.
When you form a sole proprietorship or file for a DBA, you may need to renew it regularly depending on your local or state laws. Some sole proprietorships and DBAs never expire. EZ Filing Solutions will let you know if you ever need to re-file anything for your business.
If you don’t want to use your Social Security number for your business, you must obtain an EIN. You’ll also need a federal tax ID if you want to get a credit card or open a bank account for your business.
Forming your sole proprietorship is easier than ever with EZ Filing Solutions. Just contact us and we’ll help you through the process!
To receive a new IRS Federal Tax ID Number, or Employment Identification Number, simply complete our IRS Tax ID Application form online. Our user-friendly simplified form allows you to securely apply for a Federal Tax ID number, for business or personal use in less than 10 minutes.