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Question about multiple accounts, EIN, 200/20000 limit etc
 

Hey guys. I have a few questions some of you might be able to answer.

Currently I have a stealth account I've been running for about 6 months. It has just went into review and some of my money is in reserve so now I'm thinking of starting up a second account. For this account I had bought a new computer and a virgin mobile dongle. If I wanted to buy another computer or set up VMWare on the current computer to make a new account, I would need a new dongle right? Would it better to buy a different brand of dongle or would be going with another Virgin Mobile one be fine?

Also, I have some questions about the EINs, submitting the info the AZ and the 200/20,000 limit. A form from the IRS is only sent to you if you pass the 200/20000 limit in the CURRENT year, am i correct? Not total? I have gone over 200/20000 total, but thats combined last year and the first two months of this year. From January until now I have not gone over that limit however. And its both 200 items and $20000, right? Not one or the other?

Also, if you do go over the 200/20,000 limit, is a form sent to the address of the LLC or the address that you provided in the stealth account? People always say you shouldnt go over the limit and I dont get why. If its to avoid taxes thats dumb because you have to pay it regardless, but just wondering if the form is sent to the AZ account address cause if so thats not good since the addresses are stealth. I guess that could cause a problem?

Let me know if you guys got any info to help me out with my questions. Thanks guys.

Wow! Six months until your account went under review. What were you grossing per month the first six months?

I'd like to know that too (hope I'm not being too nosey)

... Just curious, of the dollar amount since the account didn't go into review for 6 whole months

Well i might've went into review earlier. Not sure never noticed. It was just recently I got a message saying I was in review. I got a disbursement thursday but most of the $$$ was held in reserve.

For 2012 I was doing anywhere from $500-$2,500 a month on it. It was over $3,500 in December. It varied really nothing really consistent from month to month. But for 2013 I've done over $13k. I ramped it up at the start of the year and its probably why I went into review. I've been in review for about 2 weeks now. Wonder whats taking so long.

That is quite amazing that you are surviving so long

yeah I've just tried to do everything under the radar. Everything I've sold has been through FBA.

Anybody able to help me with the question in my OP?

For the 200/$20K I think whatever come first.
You don't need another dongle, every time you remove and reconnect it give you new IP.

so its not $20k AND 200 items?

Do you know where the tax form is sent to?? The AZ account address or the EIN address?

Is it really a big deal to go over the limit?

All this info is a available on the IRS website. Don't listen to Tony his info is no bueno.

Ok so its both. Cool thanks!

:pound: :pound:

This is amazon forum :)

Sorry, I read your question wrong

Its all good man. Thanks for trying to help.

if anybody else has any info to add, please do so! Looking to get as much info as possible before starting another account

so what is the verdict for the amaz0 n ghost acct .. if you just ignore the tax id request to amaz0 n can you still keep selling (at least for the current yr) ?

well they suspended my account in December for no Tax ID info. I submitted it and I was unsuspended immediately.

BTW I ended up passing the review and getting all the $$ that was in reserve.

How many months had passed from the point they asked for tax ID, and until Dec when they suspended it?

Did you have to do an appeal or did it automatically unsuspend you. How long after you entered the tax info did it do this?

the account was made in August. They were asking me for tax id info pretty much the whole time until they suspended me in Dec. I didn't have to do an appeal, just enter the tax info and I was good to go right away. They don't confirm the Tax ID info right away but they lift the suspension right away while the info gets processed. So yeah, automatically.

Yeah, I was thinking you could get away with not giving it until towards the end of the year.

Some people say they are being asked for it right away if they signup for Pro at opening. I opened two stealth as a buyer, regular seller and then pro. Grossed over $1000 on both within a few weeks. No review, no tax request yet.

Yeah, it does seem that if you open a Pro account they ask for it right away ... but if you wait first (by signing up for a regular seller account first) they let you slide for a while

one of my amaz0 n ghost accts just hit about 100 orders(sales) and just got hit with the provide tax ID request ------ do you guys think amaz0 n suspends at the end of the yr (dec) giving you until that time to submit the info?

i am thinking of just using until its suspended but if its gonna last only 1 more month or something then it might be worth buying an EIN..

Iron man,

Why couldn't you get a stealth EIN, with the stealth name and address, and have the 1099K sent to you electronically? Then, just file a schedule C with that EIN next time?

On the Interview they ask if you want the EIN sent Electronically..

The number gets used, the taxes get filed and paid.

Also, where do you get/buy yur EIN's?

I know you get a free one,but If you want multiple accounts, you will need more than one.

Yeah Wes I realized a few days ago that it can be sent electronically.

I might just go over the limit on this account and see what happens

And I get the EIN from the IRS

Apply for an Employer Identification Number (EIN) Online

you can get one for every business you own. So a new DBA can get you a new EIN

btw you can't have a "stealth EIN" all that stuff needs to be under your real name and address. Can't mess with the IRS like that