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Business Owners & Managers

The Business Minute Ep 2: An Overview Of EINs

By Brad Behr from Copper Creek Cuts

In this new series, I wanted to give you short, practical tips for your business. I call this “The Business Minute”, and, as such, I’ll try and keep the videos short and sweet!

This week, an overview of EINs, or Employer Identification Number.

Some takeaways:

  • While a social security number identifies you as an individual, an EIN identifies your company as an entity.

  • If you don’t have an EIN, you may not be able to get a loan from the bank

  • You may not be able to get business insurance

  • You won’t be able to file your quarterly taxes on a federal level, and that’s somewhere no-one wants to get mired into!

They’re very simple, quick, and easy to obtain, and it’s another step to prove you’re a legitimate company and not just someone mowing lawns for a hobby.

I hope this video helps, guys, and let me know how you deal with EINs for your business.

Brad Behr
Copper Creek Cuts
UAG Council Member 2019
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How do you handle EINs when it comes to your business? Join our forum to share your tips or ask other pros for advice.