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Author Topic: for those in the US - using your SS#, LLC with EIN, or corp?  (Read 1202 times)

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Offline Jinny

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Several sites I've found allow you to use your social security number OR the EIN of your business or corporation.  I took a bunch of accounting classes on the way to my business degree and I guess with the end of the year coming up, I've been thinking about this a lot and I can't really come to a conclusion.

Is there a magic income level that makes going with an 'official' business type instead of just using your social security number more practical?  I was thinking that in many cases, I might feel more comfortable giving the site an EIN of a business than my social, you know? 

Has anyone else considered this?  I would love to hear what you decided and why.

Offline Eva0000

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #1 on: March 09, 2015, 02:00:20 PM »
I haven't considered which would be better, but I too would feel better providing a EIN versus my SS. I was going to sign up with Mturk but after they wanted my SS I said forget it, I'm not going to risk my SS to be just be earning pennies at a time. If I had a EIN number though, I would consider it, although I have no idea of the tax implications.

Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #1 on: March 09, 2015, 02:00:20 PM »
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Offline Jinny

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #2 on: March 09, 2015, 04:33:39 PM »
With an EIN if the business is a sole proprietorship, the income is just pass through income to the person who owns/started the business.  It is often used by people who hire individual household help (i.e. nanny, or housekeeper who is not part of a company).  Taxwise, the money from that source is taxed a bit higher but you can also write off more expenses (took a writing class?  professional development.  pay for new transcription software or a footpedal?  business expense.  etc) to offset the taxable income. 

I trust amazon with my credit card numbers and my bank account so I didn't worry about giving them my social but on some sites, if you're working for a US based company on a contract basis, they want you to do a W-9 form.  If I had an EIN, I could fill out the from as a company contracting with a company instead of using my SS#, which would make me feel a whole lot safer, you know? 

Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #2 on: March 09, 2015, 04:33:39 PM »

Offline AngelicDevilTel

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #3 on: March 14, 2015, 06:56:05 AM »
I trust Amazon and Google with my SSN because they are trusted companies with good or almost good reputations (depending on who you ask).
But for other sites I would like to have that choice of using a TIN or EIN rather than my SSN.
But due to my situation I'm not sure what implications that would have on me
So I stick with Google and Amazon because I have trust in them


Offline Jinny

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #4 on: March 26, 2015, 08:15:42 PM »
These companies have my SS# now. 
Amazon (for selling AND for mTurk)
BlogMutt
FocusForward Trascription
Odesk
And one private client asked for and got a W-9 form filled out.

Looks like TextBroker wants it now.  Some Guru clients want it too.  And I've found out on the freelance writer boards that it's common for companies to want a W-9 from you.  I really think I'm going to get an EIN.  It's going to keep snowballing if I don't and soon everyone will have my SS#.



Offline DianeLane

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #5 on: March 21, 2016, 02:53:16 PM »
@Jinny, How do you like working with FocusFWD for the transcription? Do you need any specific equipment to work with them in that capacity?

I really don't like giving out my SSN unless I am familiar with and trust the company. Since I don't know most random companies online, some of with appear to be fly by night places that change hands/names frequently, I may miss out on some opportunities, but I'd rather take that chance than have to worry about having my identity stolen again.

Offline IcyBC

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #6 on: March 21, 2016, 07:28:18 PM »
I hate giving out my social security number to any sites, but I had to a when I was blogging and making over the limits the site set. I did get my form and claimed it on my income tax. Since then, I don't remember any other sites that I had to do this.

Offline Jinny

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Re: for those in the US - using your SS#, LLC with EIN, or corp?
« Reply #7 on: March 29, 2016, 01:38:38 PM »
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@Jinny, How do you like working with FocusFWD for the transcription? Do you need any specific equipment to work with them in that capacity?

I really don't like giving out my SSN unless I am familiar with and trust the company. Since I don't know most random companies online, some of with appear to be fly by night places that change hands/names frequently, I may miss out on some opportunities, but I'd rather take that chance than have to worry about having my identity stolen again.

Honestly, I hate doing transcription...but it pays. FocusFWD is a decent company to work for and I like that it's a direct deposit to my bank account. They pay based on audio time, not how long it takes you to complete the work. I ended up getting a foot pedal and I found that it speeds up my transcription time in comparison to using keyboard shortcuts. Maybe 45 minutes for 15 minutes of audio instead of the full hour. It's not a huge difference though. My biggest expenses were a high quality headset, the foot pedal, and better transcription software. The free trial version didn't really cut it. FocusFWD pays on a 1099 though so I just claimed those expenses on my taxes. I waited until I had gotten a few paychecks from them though before investing any cash. You don't need anything special to apply (except time and a decent internet connection).

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I hate giving out my social security number to any sites, but I had to a when I was blogging and making over the limits the site set. I did get my form and claimed it on my income tax. Since then, I don't remember any other sites that I had to do this.

Most of my income was via paypal so I was able to use their statements as a guide. I also got a 1099 directly from Focus Forward. My taxes were pretty weird in 2015 because I started with my SS# and then got an EIN and switched everything to that. I feel MUCH safer giving out my EIN than my SS#.


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