Tag Archives: Social Security

Social Security Card Arrived

Sorrow and Joy. Sorrow because the Federal government has decided to start normalizing our child – converting him into a traceable number. At the same time, it allows us to do things like open bank accounts for him and deduct him from taxes (if only we where not phased out). One thing for sure: this [...]

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LLC Partnership Taxes: 1065 and K-1

A Limited Liability Corporation (LLC) can be treated as an S-Corporation or as a Partnership by the Federal Government Internal Revenue Service (IRS) (you fill out form 8832 to classify it as Partnership). When I established my LLC I made it a Partnership: a very flexible arrangement that allows me to divide the earnings (or [...]

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Employer Identification Number

A requisite for any serious business is to get a Federal Employer Identification Number (EIN). It is the business-world equivalent of the Social Security or Taxpayer Identification Number. You will need to use it to register tax payments of all kinds, including Social Security, Medicare, and Income taxes. Most importantly, you will need it to [...]

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