3 ms·

Stripe: https://stripe.com/ https://stripe.com/

by ShaneCurran 11y ago

hartator 11y ago
I've already Stripe for a former startup, but I think they have asked me for a EIN.
- davismwfl 11y ago
  If you are a sole proprietor the EIN is your SSN. So you can still use Stripe and not worry about it. You can also setup one llc and have multiple d/b/a's out there so you use one EIN and have multiple trade names but one company, one bank account etc. You need to do some accounting around it all, but its not a big deal.
  - dragonwriter 11y ago
    > If you are a sole proprietor the EIN is your SSN. An SSN is a federal tax ID. An EIN is a federal tax id. An ITIN is a federal tax ID. But an SSN (or ITIN) is not an EIN. Most businesses should have an EIN, even if they are sole proprietorships (if you have to pay employment taxes, among other things [0], you must have an EIN.) [0] http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Do-You-Need-an-EIN http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employ...
    - davismwfl 11y ago
      Yes, you are correct, they are not the same, one applies to the individual the other when you meet specific rules by the IRS as your link points out. At one time I am almost positive the EIN field was required by Stripe (it is possible I confused it with Balanced or First Data) and for sole proprietors you were to use your SSN in that field. Effectively the field should have been labeled TIN if they were using it as a dual purpose field as the IRS uses TIN as the overall classification for SSN and EIN's (but again they usually provide two separate fields for them, just look at a W9). So I should have double checked the form before replying to make sure I didn't provide potentially inaccurate information. Glad you pointed it out. A quick double check on Stripe's FAQ just now shows this link, which says the EIN is optional: https://support.stripe.com/questions/sole-proprietor-without-federal-ein https://support.stripe.com/questions/sole-proprietor-without...

Stripe: https://stripe.com/ https://stripe.com/

hartator 11y ago

I've already Stripe for a former startup, but I think they have asked me for a EIN.

davismwfl 11y ago
If you are a sole proprietor the EIN is your SSN. So you can still use Stripe and not worry about it. You can also setup one llc and have multiple d/b/a's out there so you use one EIN and have multiple trade names but one company, one bank account etc. You need to do some accounting around it all, but its not a big deal.
- dragonwriter 11y ago
  > If you are a sole proprietor the EIN is your SSN. An SSN is a federal tax ID. An EIN is a federal tax id. An ITIN is a federal tax ID. But an SSN (or ITIN) is not an EIN. Most businesses should have an EIN, even if they are sole proprietorships (if you have to pay employment taxes, among other things [0], you must have an EIN.) [0] http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Do-You-Need-an-EIN http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employ...
  - davismwfl 11y ago
    Yes, you are correct, they are not the same, one applies to the individual the other when you meet specific rules by the IRS as your link points out. At one time I am almost positive the EIN field was required by Stripe (it is possible I confused it with Balanced or First Data) and for sole proprietors you were to use your SSN in that field. Effectively the field should have been labeled TIN if they were using it as a dual purpose field as the IRS uses TIN as the overall classification for SSN and EIN's (but again they usually provide two separate fields for them, just look at a W9). So I should have double checked the form before replying to make sure I didn't provide potentially inaccurate information. Glad you pointed it out. A quick double check on Stripe's FAQ just now shows this link, which says the EIN is optional: https://support.stripe.com/questions/sole-proprietor-without-federal-ein https://support.stripe.com/questions/sole-proprietor-without...