What You Need To Know About Limited Liability Companies (LLC) and Employer Identification Numbers (EIN)
In December 2017, the Internal Revenue Service (IRS) introduced updates regarding the issuance of Employer Identification Numbers (EIN), or Tax Identification Number (TIN), to Limited Liability Companies (LLC). The rule went into effect in January 2018, however, since the IRS typically offers taxpayers a grace period to transition to the new regulation, the IRS will begin enforcing said changes in May 2019. In this article, we will explain the upcoming changes and how they may affect your application for an EIN.
Is Your Passion a Side Hustle aka Business or Just A Hobby?
While the term “side hustle” has become the new description for “gig” or “moonlighting” for professionals who try to earn an income on the side, the term itself does not mean it’s a business. Why does it matter if it’s a business or not? Why does it matter if your cupcake blog, youtube vlog, or […]
