EIN vs social security

[Chris Grant]

I recently created two separate LLCs. One for holding title to my rentals and the other for managing flips and and the rentals. When I went to open a bank accounts for each they asked me if I wanted to use my Social Security number or an E I N number.  

Are there tax implications from choosing one or the other? 

If I use my Social Security number does that have negative effects as far as asset protection?

[Jerry W.]

I am not an accountant so I am just guessing, but if you went to the trouble of creating a legal company why would you run it under your own SS#?  If you do business you will need to file a tax return, in fact just filing them may trigger the need for a tax return.  Check with your accountant.