EIN Number Question

[munkron]

A question that I have about Amazon is with the EIN Numbers.

I see some of the people here have like 10 Stealth accounts how do you handle the taxes? Are you really forming 10 corporations?

Is there a way to get multiple EIN's with 1 corporation and not have to file countless amounts of paperwork?

Thanks

[yankee]

EIN are very easy to get. Registering them in most states is super easy online.

Taxes should be handled by your tax adviser but the great thing with 10 companies is ten times the write-offs if you are doing volume.

[munkron]

Originally Posted by yankee

EIN are very easy to get. Registering them in most states is super easy online.

Taxes should be handled by your tax adviser but the great thing with 10 companies is ten times the write-offs if you are doing volume.

So there's no other real solution than to have multiple companies? I was hoping there was an easier way, like if you could make 1 company and get multiple EIN's.

I haven't really done too much volume on Amazon, so I'm not sure what some of you guys are selling to be making that much, all my items are private labeled.

Thanks!

[yankee]

Example of one company with multiple EINs is a TAX stragegy and will cost you for each EIN.

Corporation can own unlimited other corps or LLCs and they will funnel back to the mail corp.
But there would be no savings at all a far as setup.

Keep in mind we have 50 states we can file in. Not all are created equal. Nevada and WY being two cheap places to file. Use your tax adviser first though.

[munkron]

Thanks

I'm not worried about the cost of a few hundred to create the company, but I'm more worried about the pain of managing it all and I'd have to pay my tax adviser quite a bit to handle it all. If there's no choice there's no choice though.