I am starting up my own business and need advice on getting a Taxpayer ID and business credit (see additional)

(Thanks in advance)

Hello! I'm going to be starting up my own business in the next few months and I've done quite a bit of the planning. However, I do have a few questions.

1. How can I start a business with a Taxpayer ID #, so that I can pay myself and my employees legally?

2. Will this Taxpayer ID allow me to build credit for my business? Are there any added bonuses to the Taxpayer ID?

3. What will I need to open up a bank account in the company name so that I can legally transfer/deposit funds?

4. I want to purchase a van/truck for my business, how can I put the title in the company name, in addition to the insurance?

****I want to do this right. I'm investing a lot of money in a unique idea (no, I do not need partners, lol) and I want to make sure that everything is legal and legit****

Any advice is greatly appreciated!!!!

Hi, I am formerly an employee of an acctg. agency in some way, maybe I can help in your problem.
1. First of all you have to have a Tax Identification of your own before organizing papers that you have to submit with our government agencies such as SEC or Securities and Exchange Commission if you are planning to have a Large Scale business, while If it's only a single proprietorship then you have to endorse your business to Department of Trade & Industry. You should get first a Business Permit And Municipal License to make it sure that your business will be legal. Then you also have to enroll your business with the Social Security Systems if you like to pay your employees legally because it is the only way that you can do to make sure that your employees will benefit from you. Taxpayer ID for company is one way to make sure that all your Expenses and Receivables are properly computed via Financial Statements, this will be the basis for your tax payments.

3. In opening bank account especially if for business you will be needing of course your Business Registration Certificate and your license. They might want to know also your Assets. Of course the money itself.

4. If the truck is brand new there will be no problem you can legally name it on your company name, if its second hand you will have to prepare an ABSOLUTE DEED OF SALE to make it transfer to the company's or your business name.

I hope a little bit of it can help you.

call your county and ask them to direct you to someone