Hi Reader!

An EIN is a little bit misnamed because it's called an employer identification number. But, you don't have to have employees to get one.

Instead, it functions as your business's Social Security Number. You can use it on W-9s, you'll be able to provide it to PayPal and Stripe, and you can give it to your bank. You'll use it instead of your Social Security Number. It adds a layer of protection to your Social Security Number. Because you'll be giving your EIN instead of your Social Security Number.

It also is completely free and it takes about five minutes to get it from the IRS. It's super easy, fast, and simple to get and it's a one-and-done kind of thing.

Which is why this week’s task is to order one (if you don’t already have one).

That being said, there is a trick I want to warn you about.

When you hop over to Google and search EIN IRS, you might see results that tell you “Pay us, and we will get you a number instantly!”

Don't fall for that trick. The IRS will give you the number immediately for free. All you have to do is request a PDF letter at the end of the application.

There is no need to pay money to instantly get your EIN. The IRS will do it for you for free, without any money exchanged. So go straight to the IRS website and get it from them. And request a PDF letter at the end.

Why do this now?

First, because you’ll need one at some point in the life of your business, so doing it now will save you time later. Second, it provides you with a layer of protection when it comes to identity theft because your SSN is no longer used on all your business documents.

👉 Your assignment: Order an EIN directly from the IRS here.

For bonus points, update any existing accounts (Paypal, Stripe, Etsy) to your new EIN rather than your SSN.

Chat soon,

When is the best time to become an s corp?

Are you struggling to decide if your creative business should become an s corp? This week’s blog post shares exactly what an s corp is (and isn’t), what kinds of businesses can become one, who can tell you if this is a wise move for your business, and the two big cons of making this decision. Read it here.

❤️ Easy to understand legal resources should be available to every creative, regardless of their financial situation. If one of my resources has helped you and you would like to say “thank you”, you can make a contribution here. ❤️