The IRS Gets a Taste

A few days later, I applied on online for an Employer Identification Number.  When you start your own business you have to have one of these through the IRS in order to file your annual tax returns.  

That is another thing no one tells you about running your own business:  Say good bye to getting money back on your tax returns.  When you work for yourself you pay the Board of Equalization an Estimated Tax, which is basically you guesstimating what your sales will be for the next quarter & sending out a check to the IRS.  If you under estimate, you'll have to pay more & if you over estimate you can roll it over to the next quarter.  Just another bill to worry about, no big deal.

Applying for it was really easy online & within a few days the IRS sent me a letter in the mail with my brand new EIN number.  It's like a Social Security Number, but for a business.  

At the time, I hadn't made a single sale yet, so I didn't owe them anything.  Instead I spent most of my spare time looking online & on Craigslist for a food cart & a place to set up Mad Munch in OB.