Re: Is it a good idea to give Paypal your SSN if you just want to use it as personal
While you CAN give them your social security number, why would you?
If you give them your SSN and something goes wrong, that is it for you having a real account. I recommend giving them your SSN ONLY if they ask for it, or if you have a serious need for the PayPal debit card.
And EIN is not just for business owners. It is also for individuals who hire people, such as maids, medical help, etc. If you are paying someone wages, then you have to collect and remit taxes which is the reason for EIN's.
And that is only if YOU hire them directly. If you hire a cleaning service that comes in twice a week to clean and you write a check to the company that provides the service, you do NOT have to worry about the taxes, because the business takes care of the taxes. If you hire a maid yourself and pay their wages directly, THEN you have to have an EIN for reporting purposes. I just wanted to clarify so I don't get 20 PM's from people worried because they have a cleaning service.
|