Are you planning to make blogging a vital part of your business? For some new business owners, the blog itself may form the larger part of a new venture. In such cases, there are a few details that you will need to work out well in advance. One of them will be getting an EIN for the stated purpose of blogging.
You’ll Need an EIN for Your Blog
If you want to make money off of your blog, you will need to have an official Employee Identification Number (EIN). Your EIN number is what allows the IRS to recognize and tax your business. Without it, your blog may be penalized as an illegal venture. It’s definitely best to get your EIN in advance so as to avoid all kinds of legal and financial issues in the future.
While no one enjoys getting taxed every April, it’s a move that is required by law. This is a one-time transaction. Once your receive your EIN, you never have to renew it or apply for another one. The EIN that you come away with will always be valid for the entire lifetime of your business.
Who is Eligible to Receive an EIN?
As long as you have a business and a blog to operate with, you are eligible to apply for an EIN. However, there are a couple of qualifications that you will need to meet. To begin with, your business must be located in the U.S. If the business is purely online, the domain must be registered with a U.S. address.
You can receive an EIN for as many business ventures as you care to embark on. However, only one EIN can be granted to an eligible person each day. You only need a single EIN for each business. However, this is not a “one size fits all” deal. Each business you choose to form needs to be equipped with a separate EIN.
Will You Ever Need a New One?
No matter how many blogs you may decide to start, you’ll only need one EIN for each. Once this is bought, you’re good to go. If you should lose or misplace your EIN, don’t panic. If you can’t seem to find it, you can call the special IRS Business & Specialty Tax Line. Info to do so can be found on their website.
If you used an EIN to apply for a bank account, you could contact them to secure it. Talk with any agencies that you visited in order to apply for a state or local license. It may also be handy to check your previously filed tax returns to obtain verification of your unique business EIN.
Your Monetized Blog Needs an EIN
The blog that you start will be an integral part of your new business. This will be all the more true if your plan is to make money from your blog right from the start. In this case, you have to go through all of the necessary motions in order to monetize it in a legal fashion.
The steps for acquiring an EIN should be rigorously followed. You should visit the official website of the IRS. Keep in mind that the application needs to be filled out all in one go. This is because you won’t be allowed to save it and fill it out at a later date.
Make sure that you have all of the relevant info for your business at hand. This needs to include your Social Security number and other personal and business documents.
It’s Time to Blog Up Some Bucks
Once you have your official EIN stored away, you can open your doors to the public. This means launching your blog on the web. It will be up to you to do all that you can to create a buzz. You can use different types of content to promote your products and establish authority. You can even ask popular bloggers in your niche to write posts for you. An effective blog will be the key to success.