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Create EIN with false identity?
 

I know the steps to creating a stealth, but how does creating an EIN exactly work? Do I need a real SSN and stuff? I don't want what I sell to be reported to IRS, because I don't keep invoices. I sell vaccums and coffee brewers on Amazon, but i've already reached the 50 items limit where the do an interview. Any help would be greatly appreciated. :d

re: Create EIN with false identity?
 

Best start keeping invoice. Pay the taxes you owe

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

I still pay taxes regardless, I just want to go ghost and I want to figure out how the whole EIN thing works.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

You earn money.

You pay taxes.

No other way .


Seek the help of a tax professional .

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

I'm talking about a ghost EIN linked to your Amazon account, how would that work?

re: Create EIN with false identity?
 

Use your real details.

re: Create EIN with false identity?
 

A "ghost EIN" could land you in jail and quite frankly, should.

Also, how would you open a checking account with ⊗⊗⊗⊗ info on your EIN? You still are required to have valid ID and SS number. Are those going to be ⊗⊗⊗⊗ too?

An EIN can save you a ton of money and maybe even give you a tax return if setup correctly via a company and operated correctly. Do the correct thing with good advisers and believe it or not, the system is not all that bad.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

So if I have a EIN with my social will Amazon still report my info to IRS with 20k/200 transactions? That's all i'm wondering, because I'm trying to sell big on Amazon.

re: Create EIN with false identity?
 

Why do you have so much of an issue with the IRS learning what you sell and how much you earn?

You say you pay your taxes, so I do not see the issue....

re: Create EIN with false identity?
 

The IRS does not care WHAT you sell, only that income is properly reported and taxes are paid.

They do NOT share your name with eBay/PayPal/Amazon or anyone else (if you are using an LLC, Partnership or Corporation only the BUSINESS NAME is verified).

You CANNOT use phake information with the IRS, it is a federal crime.

Some people misunderstand the reporting requirement. You owe taxes of your profits REGARDLESS of whether or not the sales are reported. But also, you only owe taxes on your PROFITS. So, if your gross sales are $200,000 and your profits are 10%, then you would owe taxes on $20,000 NOT on $200,000. There are perfectly legal ways to LESSEN the amount of taxes you have to pay, but that is best left to a tax professional.

If you are looking for a way to avoid taxes COMPLETELY, that is called TAX EVASION and we do not do that on this forum. The bottom line is, if you make a profit you owe taxes, end of story.

re: Create EIN with false identity?
 

You need to hire a CPA and maybe a liability attorney. What you are suggesting will land you in jail. You need to get professional help and maybe read a few books about companies. I suggest, 'Inc and Grow Rich" as a great starter base if you want a better understanding of how the world of corporations work.

Spend a few bucks and talk with a half dozen CPA's Most will have similar suggestions and fine tune from there.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

You guys aren't understanding what i'm trying to say. What i'm trying to say is..

If i make a EIN with my legit info, will Amazon still report what i make to IRS if i reach 200/20k and will I have to pay taxes on it, even if i make a loss out of what I am selling? Will I be able to sell without a problem if I register an EIN and will Amazon know my real info if I use an EIN? Only what I profit is what I pay taxes on, right?

re: Create EIN with false identity?
 

You pay taxes on profit. If you setup an EIN with a LLC, CORP, PARTNERSHIP, etc..(NOT Sole proprietor) then Amazon will not see your name or SS.

There is a slew of ways to lower your tax rate. Just one example is open an LLC have another member(can be anyone really) and not take an earned paycheck.. Have your company cover its expenses such as cell phone bills, electricity, auto allowances, lunches, business meetings(vacations, dinner while talking about business) gas, etc.....and hundreds more.
I can assure you that with a good adviser and a good base of information you can be like Mitt Romney and pay only 11% and have hundreds of millions of dollars. Or make a lot less, lol and even have a tax return while living quite comfortably.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

So if I setup an EIN, Amazon will not see my name or SSN, but IRS will have my name and SSN? That's where i'm confused. Also, can you go further into detail about opening an LLC under another person's name(if that's what you're implying here)? Thank you so much for helping me out here.

re: Create EIN with false identity?
 

make LLC EIN, have a unique business name, possibly even DBA name
make sure paypals/amazons business name then matches the EIN's business name to a tee
link EIN then pay your taxes

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

Reread this post post #10 on this thread by jeffweico

It explains exactly how it works.

Re: Create EIN with false identity?
 

Seek professional help for sure. Most of the time you get free consultation.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

More than one member(owner) so you and your significant other, child, mother, best friend, attorney(not uncommon), CPA(Not common), etc... They have no liabilities and will receive there percentage of profit but it can reduce or eliminate a huge tax.

Again, definitely seek professional help. Do a google search for CPA in your area and stay away from chain store franchises. Seek a firm that is familiar with companies.

a company is its own identity. It is not you. You just happen to be an owner. So you supply amazon/paypal or whoever your company details, they confirm it with the IRS and do not see your details.

You must use a new address for this company name to not get linked to your old address.

Re: Create EIN with ⊗⊗⊗⊗ identity?
 

Not sure if the different Fed penal institutions have the internet.

So your idea if implemented fails.

Do you get what we are talking about?

You must take professional advice about creating EINs to use on amazon.


:doh:

Re: Create EIN with false identity?
 

Could someone explain what are the downsides of using a Sole Proprietor/EIN setup for Amazon stealth account? It seems like everyone is suggesting LLC setup for pro account. I read another guide that suggested I use my own name (apparently names are not tracked on AMZ) but instead of SS use my sole proprietor EIN for it, with different address, city, zip, ip, bank, etc.

Re: Create EIN with false identity?
 

This has been discussed at least one dozen time in the past few months.
Search the forum. Lots of threads about this.

Re: Create EIN with false identity?
 

I tried, not sure why I can't find the right thread. Searching "Sole Proprietor" returns 19 results in the forum, none of them list the information. If anyone knows the direction I need to look at, please let me know...
:help: