What is an EIN Number and Why do you need one?

EIN stands for Employer Identification number and is a federal tax number which is given to identify a business entity. A EIN is needed by any business that retains employees and if you are not sure whether or not you need one you can always go to the IRS website and check. EIN numbers are important because it can help you obtain loans, open a business, bank account ,etc. So if you are new to starting a business you should obtain a EIN and use its advantages.

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