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Ok, Now I am ready! Bring it ON~
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 7:21 pm    Post subject: Ok, Now I am ready! Bring it ON~ Reply with quote

I have a FEIN and my state of Michigan Sale Tax Number should be here next week! Ok I am officially a full fledged business! Now let's Rock `N` Roll~

Zombie Maker of Hand Dipped Incense Sticks - Remember Hand Made???

www.incense-stick.com
www.nicodemon.info/community
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bigtallmensclothing
moderator


Posts: 21854

PostPosted: Thu Jan 25, 2007 7:34 pm    Post subject: Reply with quote

You only need a FEIN if you pay people to work for you. Then of course you are obilgated to pay workers comp insurance, the employer share of SS and all them other headaches.
For these reason, I refuse to hire anyone. I do on occassion use contract employees. But a business don't need a FEIN for them. They just need to do 1099's at the end of the year.
My business insurance premium is high enough I don't need more hidden non-profitable expenses.


Congrats you are on your way to becoming a big business!
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 7:39 pm    Post subject: Reply with quote

Yes I know this! However I needed a FEIN to applay for a State Sale Tax Number online whether or not I was hiring a dog to carry my packages to the mail box!

I tried to submit without a FEIN trust me. I suppose I could have filed the sales tax by hand in the mail but this was much easier and faster and maybe I will get so big I will have to hire some peeps!

Zombie~
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bigtallmensclothing
moderator


Posts: 21854

PostPosted: Thu Jan 25, 2007 7:43 pm    Post subject: Reply with quote

MI don't allow you to use your SSN?
What's the worker's comp going to cost you? I can't imagine it's worth it.
As a self employer person I opt not to pay in social security payments on myself. That 7% or whatever it is these days on my "paycheck" is another thing to take money out of my pocket. The way it was explained to me with having an FEIN you have no choice but to pay that. For that reason I use contract help
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 8:04 pm    Post subject: Reply with quote

I wont need no workman's comp as I told the State I wasn't hiring any employees at this time. No employees no workman's comp. I would do the independent contractor too. I wouldn't have to worry about it at all less I paid someone over 600 dollars. I have no intentions of hiring anyone anyways. I am sure I could get a couple friends to pitch in if REALLY needed some help. I really know why so many people don't go legit!

Zombie
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 8:12 pm    Post subject: Reply with quote

Ok now I have google check out! When I signed up asked me to check my bank for a small deposit but there wasn't one yet and I lost that screen so I am assuming I dont need that now lol PayPal was easier!

Zombie

Edit: Ahh Ok I got an email on this and it could take two days or so before I can use goggles checkout!
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ClassicTreasures



Posts: 163

PostPosted: Thu Jan 25, 2007 10:55 pm    Post subject: Reply with quote

Zombie, same in IL. You need a FEIN whether or not you have employees! Congrats on acquiring the numbers!
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bigtallmensclothing
moderator


Posts: 21854

PostPosted: Thu Jan 25, 2007 11:09 pm    Post subject: Reply with quote

Guess IL has changed. I had a state sale tax license there for years with no FEIN.
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 11:12 pm    Post subject: Reply with quote

Taxes = Bad

Zombie

(be nice if we could have signatures instead of typing them out all the time Cool)
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bigtallmensclothing
moderator


Posts: 21854

PostPosted: Thu Jan 25, 2007 11:19 pm    Post subject: Reply with quote

Quote:
be nice if we could have signatures instead of typing them out all the time

with your id on every post you really don't need a signature
and as you know a store link is on every post too

People get too carried away with signatures.
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MIZombie



Posts: 489

PostPosted: Thu Jan 25, 2007 11:27 pm    Post subject: Reply with quote

I just think people are used to forums with they are allowed!!!! This is the only I am on that doesn't have them!

I do realize there are forum signature haters!!! I prefer html signatures myself but that really gets em worked up, a nice big banner.

Zombie Maker of Hand Dipped Incense - Remember Hand Made?


www.incense-stick.com
www.nicodemon.info/community
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ClassicTreasures



Posts: 163

PostPosted: Fri Jan 26, 2007 6:23 pm    Post subject: Reply with quote

Quote:
Guess IL has changed. I had a state sale tax license there for years with no FEIN


Yepp, it surely looks like! I don't know what it was like a couple of years ago, but now it is so that you need a FEIN.
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MIZombie



Posts: 489

PostPosted: Fri Jan 26, 2007 6:32 pm    Post subject: Reply with quote

Doesn't make no sense, but like I said I am sure if paper filed I could have gotten out of it. Just more hassle to make people stay under the radar!

Zombie
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bargainsmall
Guest




PostPosted: Fri Jan 26, 2007 8:29 pm    Post subject: Reply with quote

BT is right FEIN if you have employees but a lot of states require it if you are not a sole proprietorship. If you are "solo" your SSN is good enough even for a resale cert. Now many licenses are outrageous. I needed one from the county ($5.00) and one from the city ($100.00) resale cert only $5.00. Then for filling federal as a corp, or anything is about $89-$100.00 in Florida only.
Yeah, That is why people do not want to go through all the hassle and pay all that money.

What was I thinking!
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MIZombie



Posts: 489

PostPosted: Fri Jan 26, 2007 8:39 pm    Post subject: Reply with quote

I don't know about allot of states, but MI requires it before you can complete the online process. I did state I was a SP. Why I have no idea nor do I care now because it is done now. The one thing governments love more than anything else is red tape, it makes them feel needed. The more red tape the happier they are!

Only thing is why would I hire Americans any ways!!! If I was to build a Incense Factory it surely wouldn't be employing any Americans!! I would move to south east Asia of course.

Zombie
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