What is the benefit of having an Employee Indentification Number (EIN) for a small business?

Question

What is the benefit of having an Employee Indentification Number (EIN) for a small business?

Answer 1

You will need it to open a bank account or hire employees

Answer 2

If you are the only employee of your business there is no incentive to have one.  The only incentive to have one is if you plan on bringing more people in to work for you, at that point you should have one.  The EIN number is just used to seperate your personal taxes from your business taxes.