Paperwork, smaperwork

So one of the more confusing aspects of setting up your home business is figuring out the paperwork and the necessary licenses for the city, state, and federal. We decided to use a credible legal document procurer recommended to us to help suss out what is needed to establish ourselves. We decided to go with an LLC for liability purposes, and many of the websites/books we read said it was good to get an Employer Identification Number.

According to the IRS website, the purpose of an EIN is:

• Start or Started a new business.
• If your business has hired or will hire employees, needs to open a bank account, has a change in entity ownership, or purchased an established business. These are just a few examples there are additional situations that would require a Tax ID to be in compliance with The IRS.
• Your EIN will identify your business accounts, tax returns, and many other business related documents.

We pinged a few of those listed reasons, so caught up in great swelling of entrepreneurial spirit, I made sure to apply early this morning and felt very accomplished to have a tangible footprint in the business world.

Except.

Except.

We might not need an EIN this early - especially since our LLC isn't even registered or trademarked yet, though it's in the process now. Guess this can go into the lesson learned category?