What is an EIN and how to get one?

Getting an EIN is required with you want to start employing people in your business, but it is also a good way to separate your personal tax ID from your business tax ID! We recommend all companies have an EIN, even if they don't plan to hire! Good news is that it is FREE to do, and you can do it yourself on the IRS website: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online If you want expert support with obtaining an EIN, you can go to Corpnet for EIN support: https://claracfo.com/Corpnet In this video you will find: 0:00 - Introduction to EIN 0:16 - What is an Employer Identification Number (EIN)? 0:49 - How to Apply for an EIN Online 1:00 - IRS Website Hours and Application Limitations 2:50 - Avoid Third-Party EIN Services 4:13 - EIN Application Process: Step-by-Step Walkthrough 11:59 - How to Receive Your EIN Confirmation 13:11 - Getting Help with EIN Applications To learn more about CFO services for B2B services providers making over $1M in annual revenue, go to: https://claracfo.com/services Here are some of the tools I trust and recommend to help you manage your business finances more effectively. These are affiliate links, which means I may earn a small commission if you use them—at no extra cost to you. Thank you for supporting the Clara CFO channel! 🔢 QuickBooks Online – 30% Off for 12 Months plus 30-day Free Trial https://claracfo.com/QBO Get organized with the most popular small business accounting software. 🏦 Relay Bank – Get a $100 Bonus https://www.claracfo.com/relay Modern banking designed for business owners. Sign up and deposit $100 to claim your bonus. 👥 Gusto Payroll – Earn $100 https://claracfo.com/gusto Run payroll and receive a $100 reward—perfect for growing teams. 💰 Monarch Money – Extended 30-Day Free Trial https://claracfo.com/monarch Smart personal finance software for entrepreneurs and families. 📊 RC Reports – Get $50 Off a Compensation Report https://claracfo.com/RCReports Ensure your S-Corp salary is IRS-compliant with a professional comp report. Hannah Smolinski is a #CPA and the Founder of Clara CFO Group. Find out more about Clara CFO Group at https://claracfo.com/ Disclaimer: This video is intended for educational purposes and should not be taken as legal or tax advice. You should consult with your financial professionals about your unique financial situation before acting on anything discussed in these videos. Clara CFO Group, LLC is providing educational content to help small business owners become more aware of certain issues and topics, but we cannot give blanket advice to a broad audience. CODE: MB01QSNQT1MKRZX