Q: I run a coaching and consulting business from my home office and travel to clients. What kind of tax ID do I need?
A: An EIN is the tax ID most consultants need, and it's required once you have employees or an LLC with partners. Here is what a consulting business in Bigfork, MT needs:1. EIN2. Assumed business name if you use a brand name3. Payroll accounts and workers' compensation for employees4. No sales tax permit, since Montana has no sales tax5. Registration in other states where you regularly work
A: An EIN is the tax ID most consultants need, and it's required once you have employees or an LLC with partners. Here is what a consulting business in Bigfork, MT needs: 1. EIN 2. Assumed business name if you use a brand name 3. Payroll accounts and workers' compensation for employees 4. No sales tax permit, since Montana has no sales tax 5. Registration in other states where you regularly work
Q: I run a coaching and consulting business from home. What kind of tax ID do I need?
A: Usually an EIN. A consulting business usually needs:1. EIN2. General business license where required3. Assumed name filing for a brand4. An LLC to separate liability (optional)5. A professional license if your field is regulated