Re: Taxes Quote:
Originally Posted by Mikez92 Yeah but isn’t the social and a different name | No, you don't use socials. That's fraud.
You would buy the account, get an EIN from the IRS, add that EIN to your account, receive a 1099k for the EIN you provided, and then pass the profits from your business to your personal taxes.
At least, that's how I do it. I've heard about a few different setups on here to get lower tax rates (since corporations pay a lot less than passthrough entities like LLC's) but I've always used single member LLC's. I guess because I was a kid who had no idea what I was doing when I started.
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