Forum

EIN SSN Problem
 

I asked this question around on different post, but I still haven't got my brain wrap around it yet. So I will try it again on its own post.

How do you guys solve the EIN/SSN problem when creating stealth account?
Here is some information about me
1. I'm from the US.
2. Both SSN and EIN as sole proprietorship was connect to my paypal account
3. Is it true that only 1 EIN per SSN?
4. Can I get another DBA (1 or a few) using my SSN (still sole proprietorship)
5. If I can get another DBA, can I get more EIN?

Thanks.

Re: EIN SSN Problem
 

You can get as many EIN numbers as you want. I have four under my name right now.

Re: EIN SSN Problem
 

I heard contradict opinion in a different post.
If you have multiple EIN, do you file multiple C-schedule when you do tax? Or just 1?

Re: EIN SSN Problem
 

That is correct.

It goes EIN -> business -> me.

You can have multiple businesses = multiple EINs. They are just saying you can't have multiple EINs under ONE business I believe.

Re: EIN SSN Problem
 

I believe there are diff ways to obtain EIN. If you are getting an EIN for a sole proprietorship then I believe you only get one. But you can open as many LLC Corps as you want and get an EIN for each one, which is really the EIN you need over a sole proprietorship anyhow. So both opinions are correct, but they are using diff sources for each.

Re: EIN SSN Problem
 

I see. Just to clarify: I only be able to get 1 sole-proprietorship? So if I already have one, I will have to create a LLC or S-corp? Is the process of getting a LLC different from Sole-proprietorship?

@Bjamin: what different ways are you talking about? I thought that either getting one as sole-proprietorship, or 1 as LLC, corp of sometime and that's it?

Thanks

Re: EIN SSN Problem
 

LLC is better than sole-proprietorship, here's the #1 reason:

1. If you get sued, your personal asset is protected.