Using an EIN or TIN vs Using a Social Security Number?

[-----]

What's you guy's take doing everything on a with a EIN or TIN instead of social? I'm talking renting , leasing and buy Condos, homes and cars.

 

[Ethnic Vagina Finder]

This question is confusing.

A TIN is for people who don't have and can't get a SSN. So if you have a social security number you won't need a TIN.

You only need a EIN if you're trying to separate business profit/losses from personal.

Are you trying to hide income from your personal income?

What's your end game?

 

[JahFocus CS]

Spoiler

I don't see a reason not to create an LLC and use its EIN?

 

[-----]

Spoiler

I don't see a reason not to create an LLC and use its EIN?

This is exactly what I've was alluding to. Have ever used an EIN to buy car or lease a condo?

 

[Akata Man Bromo]

This is exactly what I've was alluding to. Have ever used an EIN to buy car or lease a condo?

The car still goes under your "name" and is on your credit report. You can just write off the expenses associated with the car buy having it under a LLC. Your credit is also used to finance the car too. I did it last year

 

[se1f_made]

The car still goes under your "name" and is on your credit report. You can just write off the expenses associated with the car buy having it under a LLC. Your credit is also used to finance the car too. I did it last year

Did know u could do this...its possible to write off travel expenses with your own name (not entities on the title) so why go through the hassle unless it's some type of delivery vehicle? Won't that be considered a business asset and make it liable if the business is sued?

 

[KillerB88]

Let me stop this thread in it's tracks. Unless your EIN has a business credit history attached to it, then NO you generally can not use it for such purposes. However, if you do find a vendor willing to allow it, you'll undoubtedly have to guarantee it with your SSN so they can protect themselves.

 

[BaileyPark31]

Most llikely your gonna have to have excellent biz credit and consistent biz financial history to avoid a personal guarantee.

 

[88m3]

This is exactly what I've was alluding to. Have ever used an EIN to buy car or lease a condo?

You're not going to have the credit profile necessary to buy or lease a condo most likely...


I wouldn't lease to a business unless it could truly be backed up. People aren't stupid.