Stealth Ebay and Paypal with LLC and EIN

[ebay machine]

Originally Posted by degsey69

It depends on what state you are opening an LLC, some states allow a single member to open and operate one, other states may require more.

If you open a single member LLC then the 1099K from PayPal goes in with your regular tax returns.

I have a stealth eBay and PayPal accounts under a LLC, basically when open either eBay or PayPal accounts it is linked to a person initially even though they are corporate accounts. If you subscribe to the eBay Stealth and use that as a basis with the information given you should be very successful

i hear what you are trying to say but i need you to elaborate more on how you're doing this. the way paypal works is they send the 1099k form to the IRS and the IRS either approves or denies it depending on the info they have on you. for example, if you put that you are a corporation' on paypal business settings and then they send that to IRS, wouldn't the IRS reject it because you are NOT a 'corporation? you are a single-member LLC. Or will the IRS not even care as long as the EIN is the same and the business NAME provided is the same. that is my question. please try to understand the specifics that I am asking. This is a fact-based question. It cannot be subjective. This is why so many people get accounts nixed. so we need the right answers. Objective ones that have been tried and tested

[Dalash]

Hey guys, I’m new to stealth and to this forum. I’ve had a few real good accounts with 5&8k 100% feedbacks and a few smaller ones but have done damage to one of them and they well went down. I’ve been trying to get back in the game and have been reading a lot of different options and I think this options is legit. I don’t have problems opening llc’s. They cost from 150-300 if you use online services and probably cheaper If you file yourself. My questions is this. To get an LLc you need your real name. Now to open an eBay or PayPal account they do require your personal info. I’m sure it has to match the LLC in case they do a verification. What do you do?
I appreciate any input, help, or ideas.
Thanks

[ebay machine]

Originally Posted by degsey69

It depends on what state you are opening an LLC, some states allow a single member to open and operate one, other states may require more.

If you open a single member LLC then the 1099K from PayPal goes in with your regular tax returns.

I have a stealth eBay and PayPal accounts under a LLC, basically when open either eBay or PayPal accounts it is linked to a person initially even though they are corporate accounts. If you subscribe to the eBay Stealth and use that as a basis with the information given you should be very successful

I hear you but my question is what is the classification of your paypal business account. Please log in and check if you can.

Is it a...

Individual
Sole Proprietor
Partnership
Corporation
Non Profit Organization


This is very important because if you put ‘Sole Prop’ or ‘Individual’ then on the 1099 form, Paypal will furnish the first and last name of the paypal account along with the business name of the account. And considering the fact that these are stealth accounts with real living names that are 100% not you, then the 1099 form would have a wrong fraudulent name against what the IRS has in their system.

Example:

Paypal 1099k form
Name: Jack Billy Bob (stealth acc name)
Business Name: Jesse Wellens Biz LLC
EIN: 888888888

IRS Database
Name: Jesse Wellens (real name)
Business Name: Jesse Wellens Biz LLC
EIN: 888888888

The only time paypal does not furnish (aka include) your first and last name on the 1099 form is when you’re paypal account is a ‘Partnership’, ‘Corporation’, or ‘Nonprofit Organization’. The form would only have your business name which will match the IRS database


Please log into your paypal account to check what you have as for business classification. Clearly you are doing it correctly

[ebay machine]

Originally Posted by Dalash

Hey guys, I’m new to stealth and to this forum. I’ve had a few real good accounts with 5&8k 100% feedbacks and a few smaller ones but have done damage to one of them and they well went down. I’ve been trying to get back in the game and have been reading a lot of different options and I think this options is legit. I don’t have problems opening llc’s. They cost from 150-300 if you use online services and probably cheaper If you file yourself. My questions is this. To get an LLc you need your real name. Now to open an eBay or PayPal account they do require your personal info. I’m sure it has to match the LLC in case they do a verification. What do you do?
I appreciate any input, help, or ideas.
Thanks

Having the same issues. read my posts. Here’s the deal

When you open an LLC, the IRS will give you 3 options to file

-single member llc (this is not even an llc, it is classified as a sole prop or disregarded entity)
-partnership
-corporation (c corp or s corp, whichever one you like)

but on paypal they do not have the option for single member llc so in order to hide your pp stealth account name from the irs, you have to set your paypal account as a corporation. a corporation 1099 forms do not ever ever ever show your real name. Only paypal business name and EIN. Once you do that you will the. have to go to IRS website and fill out the specific form to have your single member llc treated as a corporation so that when paypal does send that 1099 form over to the IRS, the IRS will not reject it, because on paypal’s end you are a corp and on the IRS end you are a cope as well. So the trick is registering LLC but then quickly amending it through the IRS special form to get your LLC filed as a corporation for the tax year in their repository.


Secondly, Paypal has become very cerebral and methodical about demolishing stealth acc people. they recently implemented a strict policy that if you don’t add a ssn to the account then the only thing you can do is receive money and withdraw to your bank account. THATS IT. no sending, no buying shipping labels, no doing anything else. So if your last paypal account was limited then DONT use same name, ssn, or anything similar. It must be 100% pseudo stealth. And may never add your ssn to the account. BUT there are some stealth acc dealers out there selling account with ssn already added so you must get LLC as corp so I/R/S doesn’t see that on the 1099 form.

[Dalash]

Ok. That’s sounds confusing but I get the point. Now another questions is this.
I’ve been banned from eBay only. My PayPal account is not limited nor banned. I know I cannot use the same PayPal for eBay because it will get linked. My question is if I go and change the info on PayPal and change to new email address, would I be able to use the PayPal account? How much does eBay know? I mean I’m in good standing with PayPal so if I just change the email address and use that new email address to receive payment on eBay, would eBay figure it out that it’s the same person?

[bman707]

Dalash nobody really knows for sure some people get away with it for years others are not as lucky it mainly comes down to if ebay pulls a manual review and digs deep enough into your account then ya its possible they could find the link you just have to decide for yourself if that's a risk your willing to take or not.

[ellinas83]

I purchased a eBay Stealth account about 5 weeks ago. Ive already listed 35 items and sold 20 of them already with $600 In my paypal. I Want to list many more products but I know I might get suspended. It is still a new stealth account Would it be safe if I created a new S Corp. and EIN number so I can start listing as many products as I can. Or should I wait the 90 days. Thanks for any help