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!
