DBA Reporting: SSN or TID?
Answer by John Burnett, BOL Guru Guru Bio
Question: Can a DBA business account having more then one employee report under a SSN and not a TID?
Answer:
The number of employees is irrelevant. The sole proprietor reports income to the IRS as part of his or her personal tax return under his or her SSN, using a schedule of income and expenses for the business. A tax return is not filed under an employer identification number (EIN). The only thing that a sole proprietor uses an EIN for is reporting and depositing the taxes withheld from employee wages.
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
Print Friendly!
Email This Article!
Discuss NOW!
