Do I Need a Tax ID # - Posted by CurtNY

Posted by Ed Copp (OH) on March 16, 2001 at 15:02:51:

for the time being that you are operating as an extension of yourself. You will not need a EIN, for that. I would suggest not incorporating until such time that you have membership. For my money the club would need to start to pay it’s own way before I would get concerned about incorporating it. Until that time the simplest way would to have the club be a “for profit” extension of yourself (operating in your name), and yes the expenses can be deducted. Good luck.

Do I Need a Tax ID # - Posted by CurtNY

Posted by CurtNY on March 16, 2001 at 13:03:04:

for a Real Estate Investment Club. I just started a club in Dutchess County NY and right now there is no membership dues to join. There aren’t many investor’s in the area. I’ve been sending out newsletters for the past three months, but I’ve only located about dozen investors. I’ve also targeted realtors, attorneys, title co., etc… My question is do I need a tax id #, if so does that mean I need to be incorporated? Also can a right off expenses that I incur for the club on my taxes (postage for newsletters, supplies, etc…)? Thanks for any input!

Curt Darragh
Mid-Hudson Valley RE Investment Club