All You Need To Know About The Employer Identification Number

by akhil shahani The days of business planning, incorporation and start-up pains are over. Everything is set for you to start off your new business. Just when you think all the paperwork is done, the Employer Identification Number stares you in the face. What is it? Well, you know that any business entity is required to file tax returns every year. Will your Social Security number suffice for that? Not quite. Unless you are the only person working in the business, you need to get an identification number for your enterprise. This is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States for the purposes of identification. When the number is used only for identification, it is usually referred to as Tax Identification Number (TIN) and when used for the purposes of reporting employment taxes, it is known as Employer Identification Number (EIN). So, it’s clear that all new businesses need to obtain an EIN. The only exception is for sole proprietorships which do not have any other employees. However, it is a good idea even for sole proprietors to obtain an EIN, so that they can use it instead of their personal Social Security number on bank accounts and legal paperwork. Confused? We’ll make it easier for you. You need an EIN: 1. When you have employees in your company 2. When you purchase an ongoing business 3. When you change your organization type - for example from a sole proprietorship to partnership or corporation 4. When want to hold different accounts in your bank and use EINs for your business and Social Security number for your personal accounts 5. When you have a qualified retirement plan 6. When you file any of these tax returns: o employment o excise o alcohol, tobacco and firearms The EIN is specific to a particular business and you cannot transfer it if you sell or otherwise divest your company. It is very much like your Social Security number which is specific to each individual, and is usually written in the form 00-0000000. To obtain an EIN for your company, you have to file Form SS-4, which is the prescribed application format, with the Internal Revenue Service (IRS). The forms are available at all IRS and Social Security offices. You can apply for it over phone, fax, mail or online. There is no application fee but the form can take several weeks to process depending on how you ask for it. You may also have to apply for a state EIN in states that charge their own income tax. If you do not have your EIN by the time a return is due, write "Applied for" and the date of the application in the space shown for the number. Do not use your social security number in place of your EIN. With that out of the way, you are truly set to be in business! Hi, I'm Akhil Shahani, a serial entrepreneur who wants to help you succeed. If you like to work smart, check out http://www.SmartEntrepreneur.net . It's full of articles and resources to help you start and grow your business successfully. Please visit us & download our special "Freebie of The Month" at http://www.smartentrepreneur.net/freebie-of-the-month.html Article Source: ArticleRich.com

Personal Swot Analysis for Career Change

Author: Karen Williams

A personal SWOT analysis is a powerful technique that can be used when seeking a career change (or indeed any other personal change in your life). Linked to a strong and powerful goal, it can enable you to take advantage of your skills, talents and abilities to take your career to the next level. SWOT stands for: Strengths Weaknesses Opportunities Threats Completing a SWOT Analysis To complete a SWOT analysis, take a large piece of paper and divide the paper into four quadrants and label each area as above. Look at each area and consider the questions that follow and write down the answers that come into your head. Strengths Personal strengths form an innate part of who you are and your characteristics. Consider your strengths as you see them and talk to your colleagues and friends for a further source of support. What skills and capabilities do you have? In what areas do you excel? What qualifications, accreditations or experience make you unique? What would other people consider to be your strengths? What qualities, values or beliefs make you stand out from others? Weaknesses Consider your personal weaknesses and how you may be seen by others. It is important to list any areas you feel may be holding you back. What are the gaps in your capabilities and what skills do you need to develop? In what areas could you improve? What would other people consider to be your weaknesses? What personal difficulties do you need to overcome to reach your goal? Opportunities Opportunities are normally external and may relate to changes in technology, people that may influence decisions, or training, development or support that may support your aspirations. What opportunities are available to you? What external influences can help you to achieve success? Who could support you to help you achieve your goal? Threats Threats are also normally external and are the things that get in the way of your success. What obstacles are you facing? What external influences may hinder your success? Who or what could get in the way of you achieving your goal? The next step Carrying out a personal SWOT analysis can help you to understand yourself and support the decisions you make. It will highlight areas you may not have considered before and may help you to realise a different perspective in each area. It gives you a foundation from where you can move forward with your goal to support your career change and for you to take action. There are various ways in which you can do this. You can review your strengths, and ensure these are reflected on your curriculum vitae or letter to a prospective employer. You can consider ways to address any weaknesses which you want to overcome or develop your skills and capabilities. You can review your opportunities as these can be used to your advantage. Also consider how your threats could be minimised or eliminated. These actions will enable you to take clear steps towards achieving your goal. Copyright Karen Williams 2007. All Rights Reserved

About the Author:

Karen Williams is a Life and Career Development Coach and runs her own coaching practice, Self Discovery Coaching. She has over ten years experience of working in Human Resources, training, coaching and management roles and is a Chartered member of the Chartered Institute of Personnel and Development (CIPD). For more information and to sign up for the Self Discovery free monthly newsletter, go to http://www.selfdiscoverycoaching.co.uk/ and receive a free career e-book.

Article Source: http://www.articlesbase.com/career-management-articles/personal-swot-analysis-for-career-change-291607.html

Need a Career Coach? - 10 Ways a Career Coach Can Help You

Author: Karen Williams

The word coaching is synonymous with sports teams. A coach can help athletes to develop the mindset to achieve, to set and achieve goals that to many people seem insurmountable, but with focus and clarity, can be met or exceeded. They can help a sportsperson to reach their full potential by planning structured training programmes, providing feedback on performance, and helping them to become more effective.

However, coaching has become more prevalent in other areas. Life coaching has developed significantly over the last few years, with many coaches specialising in niche areas such as health, financial and career coaching to name a few.

To concentrate on the rising demand for employing a career coach, why should you choose a coach to help you to progress in your career?

A career coach will help you in many ways. Like in the description of a sports coach above, they will help you to develop and reach your potential, be successful and achieve results. A career coach will normally work with you on a one-to-one basis and will often offer group workshops, teleseminars and e-books to support you to progress in your career.

A career coach can help you in the following areas:

Career exploration and discovery

You may be unhappy or dissatisfied in your job and feel that there is something else out there, but are not sure what it is. A career coach can help you to discover what is important to you in your job and make sure that it uses your talents, skills, and strengths, and provides you with the reward you deserve.

Understand your strengths and weaknesses

A career coach will help you to develop an insight into your strengths and weaknesses. This will allow you to understand yourself better and support any decisions you make in your career. It will highlight areas you may not have considered before and you can address any weaknesses that may be holding you back or use them to your advantage.

Develop your career vision and design your career

A career coach can help you to structure a plan to progress your career. By helping you to understand your skills and abilities, they can help you to plan your ideal job and how you are going to get there.

Develop confidence in your own ability

You may have a plan for your future, but you may be consciously or subconsciously holding yourself back. A career coach can help you to develop greater confidence in your ability as well as providing you with the support and motivation to help you to achieve your goal.

Provide job search support

A career coach can help you during all stages of your job search. From helping you to develop your CV, to finding the ideal job and then succeeding at the interview, a career coach will support you every step of the way.

Help you to get ready for promotion

You don't need to want to change your career to benefit from employing a career coach. They can help you to get ready for promotion, plan for the next step in your career, and support you to develop your talents.

Support you in the workplace

If you are unhappy at work, there may be many reasons why this may be so. A career coach can also help you to deal with difficult situations or people and become more assertive. You can increase your profile at work, build better relationships and improve your own personal effectiveness.

Make sure that your goals are congruent with other parts of your life

A career does not exist on its own and is part of your overall life. It is important that a career coach makes sure that your career goals fit in well with other parts of your life. For example, if work/life balance is essential for you, they will ensure that you consider this when planning or progressing your career.

Provide you with greater self awareness

Some career coaches will use psychometric tests or other techniques that will help you to develop a greater self awareness of yourself. A greater self awareness will help you to understand yourself better, build stronger relationships, and communicate more effectively.

Support you every step of the way

Like other coaches, career coaches will support you every step of the way.

Their role is to:

- Challenge you and ensure that you commit to making the changes you desire.

- Hold you accountable to the actions you want to take. You will need to report on your results, which means that as well as being accountable to yourself, you need to demonstrate what you have achieved to your coach.

- Question you and challenge your ideas and thoughts.

- Listen to you without any agenda for themselves, which gives you a chance to come up with your own solutions which are right for you.

- Celebrate your successes and recognise when you have overcome difficulties or challenges.

- Keep you motivated even when the going gets tough!

Copyright Karen Williams 2008. All Rights Reserved

About the Author:

For more information about career coaching, go to http://www.selfdiscoverycoaching.co.uk/ You can sign up to receive the free e-book "7 steps to recession-proof your career" and find out more about one-to-one coaching, group workshops and e-books (http://www.lifecoachingebooks.co.uk) to help you to rediscover your career. Karen Williams is a Personal Development Coach and runs her own coaching practice, Self Discovery Coaching. She has over ten years experience of working in Human Resources, training, coaching and management roles and is a Chartered member of the Chartered Institute of Personnel and Development (CIPD).

Article Source: http://www.articlesbase.com/

Career Options For MBA Graduates

By Scott Deane Graduates of Masters of Business Administration (MBA) programs throughout the UK have a wide variety of career options ahead of them. There are a number of factors that can determine the marketability of a particular MBA graduate. Some MBA programs have a particular focus amongst their faculty and their curriculum, which makes its graduates particularly attractive to certain industries. As well, the success of an MBA graduate while in school can determine the type of position they can gain within the corporate world. Finally, MBA graduates who have done work in their field of interest, whether it is an internship or a temporary project, can gain the attention of potential employers. MBA graduates who excel in all areas of study and professional development can land great jobs in a variety of industries. The most obvious field of entry for MBA graduates is in banking. MBA graduates can work as high level analysts and bank managers, working with individual clients and corporations on financial solutions for their needs. The reason why MBA graduates work so well in the banking field is that they have an understanding of how businesses work and their financial needs. In this way, MBA graduates can thrive in the banking field. In addition to banking, MBA graduates work well in the financial sector. Stock brokerage firms and financial planning companies often hire MBA graduates to give them a stronger personnel group to deal with new clients. MBA graduates understand the perspective of businesses entering the stock market, opening up ownership of their company to the general public. As well, these graduates understand a wide variety of accounting and financial investment options that make them ideally prepared for financial planning positions. While these endeavors are great for MBA graduates, many choose to commit themselves to work with government agencies. MBA graduates often work with the British government on budgetary issues, small business relations, and legislative issues dealing with the growth of business in the United Kingdom. MBA graduates sacrifice some of their potential financial prosperity with government positions but they use their advanced education of the improvement of their nation and possess a fairly steady employment within the government. Finally, some MBA graduates choose to open their own business and make their own way in the marketplace. The connections and the business acumen that MBA graduates develop make them capable of opening and succeeding in their own business endeavors. As well, many MBA graduates team with colleagues or investors on ventures to expand their potential income and improve the strength of their main business. About the author: Meta-Morphose International are a sales management training company and graduate sales recruitment company based in the UK. Their focus on graduate sales jobs makes them a leader in their market. Article Source: http://www.free-articles-zone.com/author/12360