Mel feller shows you how to use your ein for business credit by mel feller
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Mel Feller Shows You How to Use Your EIN for Business Credit by Mel Feller Mel Feller knows that a nine-digit employment identification number is approximately to businesses what a Social Security number is to individuals. To use an EIN for credit, you will need to separate your business and personal financial dealings and establish credit for the business in its own right. When using an EIN in financial dealings, reputation counts, so your business must be trustworthy. A DUNS number, issued by Dun & Bradstreet, is sometimes required along with an EIN to establish certain credit relationships. Businesses may also be asked for a TIN, or taxpayer identification number.
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Mel feller shows you how to use your ein for business credit by mel feller
- 1. Mel FellerShowsYou How to Use Your EIN for BusinessCreditby Mel Feller Mel Fellerknowsthatanine-digitemploymentidentificationnumberisapproximatelytobusinesses whata Social Securitynumberistoindividuals.Touse anEIN forcredit,youwill needtoseparate your businessandpersonal financial dealingsandestablishcreditforthe businessinitsownright.When usingan EIN in financial dealings,reputationcounts,soyourbusinessmustbe trustworthy.A DUNS number,issuedbyDun& Bradstreet,issometimesrequiredalongwithanEIN toestablishcertaincredit relationships.Businessesmayalsobe askedfora TIN, or taxpayeridentificationnumber. However,Mel Fellerdescribeswhatyouwill needbelow: Obtain a DUNS Number Gather basicbusinessinformation,includinglegal name andstructure,owner,yearthe businesswas established,numberof employeesandany"doingbusinessas"names.Youwill alsoneedthe SICcode, whichdescribesyourline of business(see Resources).ContactD&Bat 866-705-5711 between7a.m. and 8 p.m.C.S.T.on a weekdayoronline atfedgov.dnb.com/webform. Supplythe requestedbusiness information.If calling,youwill receiveyournine-digitDUNSnumberimmediately.Onlinerequeststake a businessday. BusinessStructure Structure your businessasanLLC or corporationratherthan as a sole proprietorship tomake iteasierto establishcreditforthe EIN andbusinessalone.Otherwise,personal creditcanbleedintoyourbusiness creditreport. Opena checkingaccountfor yourbusinessusingthe EIN.A businesscheckingaccounthelpsseparate personal andbusinessfinances. Treat YourVendors the Way You Want to be Treated Your paymentdealingscanendupon yourbusinesscreditreport.Make ita pointto pay before the vendorhasto sendyoua bill.Establishcredittrade accountswithseveral companiesthatofferrevolving creditlines.Use yourEIN whenfillingoutapplications;charge whatyouneedandthenpay the amount infull andbefore the due date to establishgoodcredit.Companieslike Dell,StaplesandLowe'soften workwithnewbusinesses. BuildCredit
- 2. Contact businesscreditbureaustoestablishabusinesscreditfile.BureausincludeD&B,the Small BusinessFinancialExchange,ExperianandEquifax. Applyfora businesscreditcardafteryouhave establishedcredit,usingyourEIN.If yourbusinessisnew, youmay needtohunt foran issuer;try small banksinyourcommunity.If youhave difficulty,consider askingfora securedcard,withwhichthe issuertakescashin advance to offsetthe risk. Applyfora small loanafterhavingestablishedatleastayear of creditworthinessattachedtothe EIN. Pay off the loanbefore the due date. MEL FELLER AND WHAT ARE HIS SKILL SETS Mel Fellerisacertifiedexecutivecoachandconsultantforleaderswhoneedtoachieve significant personal andorganizational results. One of Mel Feller’sexpertise,insightsandengagingstyle helpshisclientsgainwisdomandclarity,which resultin: Executiveswholeadmore effectively Teamsthat seektocommunicate andcollaborate,and Organizationsthatare alignedwithbusinessstrategy Mel Fellerhasoverthree decadesof coachingandconsultingexperience indiverse industries,which providesarich frameworkforhisorganizational insightsandcreative solutions.Ibringsa thoughtful approach to hiswork,carefullyintegratingbothmycoachingandconsultingskillsandabilities.When consulting,myfocusison“what youare doing”(i.e.,goal setting,problemsolving,takingactionand achievingresults).Whencoaching,myfocusison“whoyou are being”(i.e.,how youare leading, aligningyourvaluesandtappingyourgifts).Asaclient,theybecome more consciouslyaware of how payingattentionto – and balancingboth – are criticallyimportanttotheirsuccess. Whenyoucombine Mel Feller’skeeninsightsandengagingstylewithhisin-depthskills,technical certificationsandbroadindustryexperience,the resultisauniquelyqualifiedexecutive coachand organizational consultant. So...whatkindof coach are you?"
- 3. I getthis questionalot.Moreover,the answeris…Iam a Life Coach,Executive Coach,CareerCoach,and BusinessCoach.Icoach teens,businessexecutives,authors,artists,entrepreneurs,retiredseniors,busy momsand entire organizations. “Truth telling,honesty,andcandor:Iloved youMel Feller!Youhave somuch energyandknowledge!I trulyhope I getanotheropportunitytobe coachedby you.I see myself alittle clearernow,andit’snot so bad.” Lisa Mathews “Mel Felleryouaddedmore value thanwe canpossiblysee rightnow. Mel Feller,youare warm, inviting,andaccommodating.Thankyouforcomingalongside usinthistransition!” VanessaCavanaugh “Mel Fellerthe besteducationsessionthatwe have attendedinmanyyears!Thankyousomuch — I am veryexcitedtoputeverythingyouhave taughtusintopractice!” Michael Randolph “Mr. Mel Feller,Thankyou,thankyou,thankyoufor givinga marvelouskeynote atourSymposium! While we have notyetcollectedthe official feedback,the unofficialfeedbackwasthatYou Were a Hit! I heardnothingbutcomplimentsregardingyourpresentations.Thankyouformakingsucha positive impacton our attendees!” Lyle CunninghamVP "Mel Felleruseshishumor,compassion,anddirectnature tohelpbringoutthe bestinme.Mel Felleris committedtohelpingme live...Imean,reallylive,life toitsfullest." Jose Rodriguez Mel FellerLinks https://www.instagram.com/mel.feller https://ourmrmel.tumblr.com/