Merchant Accounts

One of the critical decisions you need to make as a business owner is to determine how you will receive payment for the services you offer.  Most business start out operating a cash-only business, that's fine for starting out but it is probably not the best experience for your customers especially since 70% of consumers owns a credit card.  Consider how many sales you can lose out on if you could not accept credit cards.  As payment technology continues to advance and consumers become more comfortable paying with their mobile devices,  you may also want to consider accepting mobile payment methods like Apple Pay and Google Pay. Gift cards can also give you a real sales boost, especially during peak times of the year.

GL Capital Trust can help you decide on the best Merchant Account for your business as part of our business formation service.

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Employer Identification Number (EIN)

A federal employer identification number, or EIN, is a nine-digit number the IRS assigns to businesses for tax filing and reporting purposes. The IRS uses the EIN to identify the taxpayer. ... However, most sole proprietors don't need to obtain an EIN and can use their Social Security numbers instead.  The challenge with using your social security number is tax liability for your business is on you personally and not your business.  We can help you understand why you should must have an Employer Identification Number as a business entity.