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Todayamp;#39;s question: Do I need an EIN number for my new LLC? My other video discusses an EINbut an EIN is an Employee Identification Number and it is a Tax ID number that the IRS uses for your business. If you form an LLC and you are a single member LLC, you might not need an EIN. Itamp;#39;s likely that you can file your taxes under your social security number just as if you were a sole proprietorship and filed your taxes on Schedule C. However, you still might want to consider getting an EIN because in my experience oftentimes when you go down to the bank to open a business checking account theyamp;#39;re going to ask you for that Tax ID number. Now if your banker really understands things they should let you open your checking account under your social security number but a lot of times an EIN number makes that process much easier because you get this letter from the IRS. In addition, itamp;#39;s not a bad idea to have an EIN because when you file your business tax return
