Wednesday, May 23, 2012


Q: What is the process I would need to go through if I want to change the name of the business?

A: Thank you for your question.  Since you are a sole proprietorship currently, the IRS requires a signed letter informing them of the name change.  The address you would mail it to is this:

Internal Revenue Service
PO Box 802502
Cincinnati OH 45280-2502 

You are not required to get a new EIN.  You should, however, call your bank and credit card company to change the name on the accounts.  Also, consider the costs of new business cards, stationery, redoing the website and/or Facebook, as well as signage both inside and outside the salon.  Will you lose your identity with current customers?  You may want to ask your staff and some clients for feedback before making the final decision.

If you are considering changing the ownership in any way, for instance bringing on a partner, please let us know so we can help you!