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Stealth account and taxes
 

Hello all!

Looking to get back on Amazon after being banned 8 years ago. After looking thru the forums I believe my two best methods would either to purchase a stealth account, or set up a partnership business and use the business EIN and partners address for any info Amazon needs.

The only thing holding back from the stealth route is not understanding how you pay your taxes. Also the fact that I want this to be a long standing legit business that hopefully will never deal with another amazon suspension.

Thanks in advanced!

Re: Stealth account and taxes
 

Best of luck as you find the answers - posts will come and other threads also discuss this :thumb:

Re: Stealth account and taxes
 

The EIN and LLC route OP

Re: Stealth account and taxes
 

With a stealth account with all false information, even with me paying which I 100% plan to do. Wouldn't the IRS or any government official have problems with everything set up as false names addresses so on?

Sorry if this is an obvious answer I've just been scrolling through here the last few days and couldn't seem to find the answers I needed in other posts.

Re: Stealth account and taxes
 

LLC and EIN is not false anything......It is your new company.

Re: Stealth account and taxes
 

I apologize, I meant if I were to buy a stealth account and purchase one from a seller here how do I pay taxes on that. If I do a single LLC ill eventually be linked to it since I'm the only memeber. If i do a partner ship I believe that would work by filling all the Amazon questions with my partners info or the company info but that would entail me getting a family member involved which I'd rather not if possible.

Re: Stealth account and taxes
 

simply change the business information to your new LLC, CORP, WHATEVER... If you dont know how to so this, discuss it with your account seller firstly. They most likely can make an account in your new company from the start and save you all the hassles.

Re: Stealth account and taxes
 

Ignas (member name from this group) is currently making me a stealth account. I've asked for specific details (like having the identity of the account holder be based in my state). Makes things a bit easier. I highly recommend Ignas for getting you an Amazon account. He's quick to answer questions ,etc. I have your same questions about getting the taxes straightened out , in my opinion, that's the most complicated part of this whole thing!

Re: Stealth account and taxes
 

Thank you very much this is exactly what I needed to hear. One last question I hope you dont mind. I recently created an single member LLC and eventually got linked due to linking the same bank account with my name on it.

If I create another authentic EIN and LLC how do I sent it up where they cant trace that to me?

Re: Stealth account and taxes
 

Thanks so much for your input. Was Ignas able to give you clear information on how to set up the tax issue? I want to make an authentic business but I dont want them to trace my EIN or LLC back to me.

I've heard once you start selling a lot of products they may ask to see your articles of incorporation and I dont want them to see my name or at least not only my name.

Re: Stealth account and taxes
 

What I've been told is that you form an LLC under the name on the Amazon account and then pay taxes on the profit that's made. Supposedly the government doesn't care about names on the paperwork ...they just want their money. So, when you apply for the LLC and EIN just use the identity details from the Amazon account. Your name shouldn't be anywhere.

Re: Stealth account and taxes
 

That is impossible.....and terrible advice.

Re: Stealth account and taxes
 

your name is on the W9 form when amazon asks you to put it during tax interview part of the registration

Re: Stealth account and taxes
 

for indIviduals ,1099 is sent if you have at least 200 transactions AND $20k .
iF you browse this site,someone always suggest the stealth account is only good up to 200 transactions?
but what about the $20k

Re: Stealth account and taxes
 

Get legal.

Register an LLC, get an EIN and input that info under the Tax Interview Section.

Make sure you do this only AFTER your ghost account is running.

Fofo info from before it will remain as old or updated. Pay your taxes as if your account was not stealth.

I advise you to hire a tax attorney to help you with the process and hire a CPA to do your taxes.

Regards.

Re: Stealth account and taxes
 

When taking the tax interview if you select you are a single member LLC, it asks for "Name (as shown on your income tax return)" & Business Name is Optional. What is the secret to getting through this step. I have a new single member LLC and new EIN.

Re: Stealth account and taxes
 

I was thinking the same thing the other day the two thoughts I came up with are either do a partnership and put the other person's name or hide your name on the LLC by putting a register agent on it instead of yours. And then put an alteration on the name. For example if your name is Thomas brown you can put it as Tom Brown or use a middle name instead of Tom. Hopefully someone with more experience can come clean up any mistake I may have said.

Re: Stealth account and taxes
 

There are ways to do it without your name to be showing in case Amazon asks for Business license to verify. You can use any name to form a LLC or CORP but a better option is to ask your accountant or your lawyer do it for you so you can have them to authorize you to open your business bank account to avoid any trouble later on. Another option is to open your business with a register agent so your name won't show on the filling receipt either.

We all need to think at least 3 steps ahead...

Re: Stealth account and taxes
 

I had once that Amazon asked a letter of authorization which the person I put in charge of the account worked for us. That was a CORPORATION though.

Re: Stealth account and taxes
 

OP is saying AMZN wants the name of the income tax return of a single LLC,he said he does not want a partnership LLC.

Re: Stealth account and taxes
 

There are other sites to sell,I just have my Sears account activated,it is geared more to selling manufactured goods ,not collectibles.

Re: Stealth account and taxes
 

What do you send in when they ask for an ID

Re: Stealth account and taxes
 

Hi
i have been scammed by Stealth account.
and i have got the proof , he said transfer the money and you will get the account and i transferred the money and no response. and i asked him that i only need a account if you transfer on my name and he said it is transferred.
he never gave me the account even after 3 weeks and messaging him everyday, and he was talking to me like i am his slave.
and then he replied back and said cant transfer on your name. and i asked for a refund and never got the refund back. and he sent me the account on someone else's name and that was ⊗⊗⊗⊗ account. and that account never opened.
so be aware from his scam.
i have been scammed but i want everyone to be safe before you send your money.
get the account first then send the money.
he must have done this with others too..

Re: Stealth account and taxes
 

If I plan on creating multiple Stealth accounts, can I use my First and Last name as they appear on my driver's license as the Registered Agent? Or do I need to shorten my name ex. Thomas to Tom?

Re: Stealth account and taxes
 

the issue seems to be if your SSN/EIN is already black listed from AMZ how can you buy a stealth acct?

if the short answer is to create a NEW EIN - then what is the difference between making a new acct on your own? w/ the new EIN?

Re: Stealth account and taxes
 

Depends on your circumstances.

Both have their cons and pros.
If you have time, and know how to make a good account, then do so.

But there are people who are in a hurry and need to start making money now so they buy an account.

Re: Stealth account and taxes
 

Does anyone know good Software For Filing Taxes? I've been having problems with taxes lately and I need an app that will do everything for me.

Re: Stealth account and taxes
 

do everything for you?
Turbo tax is one,there are others which are free,may be IRS has one too,do some research.
your tax accountant also uses software,some can be rather expensive,depends on how complicated is your return

Re: Stealth account and taxes
 

Next time open a new thread, it'd be better for you.

Try turbo tax or hire a CPA to do your taxes for you