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Updated almost 10 years ago, 03/04/2015

User Stats

8
Posts
0
Votes
Chris Grant
  • Real Estate Investor
  • Orting, WA
0
Votes |
8
Posts

EIN vs social security

Chris Grant
  • Real Estate Investor
  • Orting, WA
Posted

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?

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