EIN for farming

Missy M · #1 12/30/13, 04:46 PM

I am planning to operate as a farm this year. Do I need an EIN or can I just file with my SSN? Which do you use?

Lazy J · #2 12/30/13, 04:47 PM

SSN unless you have to file for heavy truck taxes with the IRS or have any employees, then you must have an EIN.

Missy M · #3 12/30/13, 04:58 PM

What about tax exempt purchases? I have named the farm and can obtain a DBA for it.

Darren · #4 12/30/13, 05:13 PM

Do you like filling out paperwork? The sales tax exemption is though the state. Are you going to making enough money to make it worth while? This place is officially a farm for the county tax assessment and the USDA. No tax related paperwork was ever required.

WV Farm girl · #5 12/30/13, 05:25 PM

Your SS # should be sufficient. Check with your state tho. When I had my farm in Ohio all I used was my SS #.

farmerj · #6 12/30/13, 05:55 PM

You can use your ss# for trucking too.

Just remember.

A lot of those records will become public record. So do you really want to use your ss#.

Best to file for a DBA from secretary of state and a TIN from the IRS.

YamahaRick · #7 12/30/13, 09:16 PM

I'd register as an S-Corp or LLC.

What if ~you~ are the one that sells food that gives the consumer an issue?

Ready to lose your entire (immediate) family life's assets over it?

Gray Wolf · #8 12/30/13, 09:34 PM

You can get one on-line from the feds in about 10 minutes. Use it for all business uses and keep your personal records and tax returns separated. No downside that I know of other than more bookkeeping.

farmerj · #9 12/31/13, 08:10 AM

Quote:

Originally Posted by YamahaRick

I'd register as an S-Corp or LLC.

What if ~you~ are the one that sells food that gives the consumer an issue?

Ready to lose your entire (immediate) family life's assets over it?

A second year law student would walk all over you.

ET1 SS · #10 12/31/13, 12:03 PM

Anyone may shift to using an EIN at any time.

At one time, while serving on Active Duty the Navy was advising us to all get EINs. To be able to have a legal number to use, that avoided using our SSNs.

That being said, we use our SSNs for our farm.

We do a 1040, with schedules C, E, and F; some depreciation forms and cost-basis stuff. All using our SSNs.

BobbyB · #11 12/31/13, 10:07 PM

Quote:

Originally Posted by Missy M

What about tax exempt purchases? I have named the farm and can obtain a DBA for it.

We just got the state ag exemption number for ourselves here. I went online, took about 5 minutes and they mailed me my cards in a few days.

I had to have it to renew the farm tags on my trailer. And we just bought a small stock trailer and used it again.

Getting it was easy and painless and having it will save a few bucks over time.

Everything else is SS