Accounting and Banking

[Hariharan Elavarasan]

I'M UNDER CONTRACT!!!! I can't believe I'm actually here and things are finally moving. I started learning and saving 4 months ago and I'm excited to get to the next steps.

I wanted to go ahead an setup a business checking account and they asked me for a business tax identification number. Should I apply for an EIN? And if I need to, what do I apply under? I was going to put sole proprietorship, but eventually I do want to make an LLC, just not right now. I guess I just want a step by step process to create my accounts for this first rental property. Appreciate any help!!!