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EIN or SSN?
My question: I have opened a small biz. I have all the legal paper work, licences, cerftificates etc. I recieved my EIN awhile back and it says to use it for bank accounts, credit cards etc until I get my permenant one. So does this mean I put down my EIN when I apply for credit cards are my own personal SSA. I read on the internet that that it's legal and that it's illegal to use your EIN? Can someone Adivse. I want to keep my personal persoanl and my my Biz business. So I would like to use my EIN but I don't want to get into any trouble either. Any advise or anyone that has used the EIN instead of SSN please let me knkow you did. Thanks,
2 Answers
- Anonymous1 decade agoFavorite Answer
the ss number is for ur personal bank accounts and credit cards and ein number for business credit cards and business bank accounts but it all depends also in the state ur at but in illinois thats how it works and i assumed all states are pretty much the same check also with ur accountant
Source(s): im a business owner and thats what i do - 1 decade ago
Even though you are a business, you still have to give your SSN to creditors to prove who you are. Creditors like banks or suppliers want to know who they are doing business with. This is especially true if they are giving you net 30 terms. EIN's prove you are a legitimate business. It doesn't say anything about you as a person.
I own a business, under an S corps. My personal credit record also reflects my dealing in my business. If you do not want to have your personal info entangled with your business life, don't go into business.
