Posted by NW Ohio Tim on September 28, 2011 at 22:01:41 from (76.76.36.32):
Hey Guys,
The freezer pig busines is growing to the point that we have a problem. We named the farm so people would feel like they were buying from something more than a couple of yucks with a lean to and a hog trough.
In the course of billing people, they don't always understand that they should make the check out to my wife or myself. Our bank is starting to balk at cashing checks made out to the farm without us having an official business account.
Opening the accountisn't a problem, in fact, it has some perks we would benifit from. The only catch is, we need a Federal ID # to put the farm name on the account.
Any reason we shouldn't get a federal ID #??
Everything I've looked up says it's just a number to identify us instead of using a SS#. I just want to make sure I'm not opening a can of worms by getting one.
One of my best friends is a tax lawyer and as luck would have it, he's out of the country celebrating his 20th anniversary. The bank has a good deal for opening business accounts that ends the end of the month...... this is why I'm asking here.
I'm just looking for a couple of real opinions from guys who have the ID #, all the tin foil hat people can sit this one out.
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