creating stealth ebay business sellers account

[gcrusader92]

okay. I'm thinking of creating a stealth business ebay and paypal account. I have some questions, and yes i have bought the ebook (3 times!!).

I plan on using my sister's info (name, address, etc) for stealth. I know how to create a stealth individual account and have been doing it for a while but i get lazy and buy some account from sellers here. And i sell 100s of my $5 items (silicon cases).

Questions:

1) Is there any difference in setting up business stealth account?
2) Will my sister's credit score go up?
3) Should I do the ID Verify Check since it pretty much is legit and remove my selling limits?
4) Should I create an LLC company and use EIN number to verify PayPal Identity, sign up for a business credit card and banking for the withdraw and sending limits to be removed? (I dont like merchant account services)
5) So Aspkin is this good enough of a post for the forums?

[KingRay]

You bought the book 3 times huh?

1) No, they just ask a few more question pertaining to when your business started and the name of it.
2)No not at all. why would it.??
3) ID verify would be too much of a hassle on stealth. I wouldnt but others may think otherwise.
4)That would be the best thing to do if you want to legitimize your business and reap the benefits of a real business. It would be easier to give them your EIN that way instead of an ssn.
5)I'll make no comment because it's NOT MY BUSINESS

[GreenBean]

Originally Posted by gcrusader92

okay. I'm thinking of creating a stealth business ebay and paypal account. I have some questions, and yes i have bought the ebook (3 times!!).

I plan on using my sister's info (name, address, etc) for stealth. I know how to create a stealth individual account and have been doing it for a while but i get lazy and buy some account from sellers here. And i sell 100s of my $5 items (silicon cases).

Questions:

1) Is there any difference in setting up business stealth account?
2) Will my sister's credit score go up?
3) Should I do the ID Verify Check since it pretty much is legit and remove my selling limits?
4) Should I create an LLC company and use EIN number to verify PayPal Identity, sign up for a business credit card and banking for the withdraw and sending limits to be removed? (I dont like merchant account services)
5) So Aspkin is this good enough of a post for the forums?

I dont think you should involve your sister with this. Not that you are not lucky enough to have a sister that would be OK to help you. But the fact of using her info might cause problems. As you said there might be the potential of damage to her credit score.

BUT since you are thinking of creating an LLC & thus using an EIN then you have options there to have your sister's help. Such options do exist. Carefully made, you could create an ideal business account. Others here function along those lines.

:

[gcrusader92]

Uh regards to number 5. I wasnt disrepecting Aspkins. My posts werent deleted or anything. I logged in yesterday with a banner that said "I havent posted anything on the forums for some weeks and I should l ask a question of leave a comment on the forum" or something like that.

Now I know why ur pissed at me.

[GreenBean]

Sorted now.

A matter of mis-communication.

[SweetPea]

Will Paypal be able to get your REAL identity using an EIN with a fictious business name? Can you open a bank account using an EIN business name so Ebay can't identify you? I need to start over but don't want to ditch new Ebay account when I reach the $20,000 mark. Thanks for any reply!

[KingRay]

Originally Posted by SweetPea

Will Paypal be able to get your REAL identity using an EIN with a fictious business name? Can you open a bank account using an EIN business name so Ebay can't identify you? I need to start over but don't want to ditch new Ebay account when I reach the $20,000 mark. Thanks for any reply!

Sofar they CANNOT see the real details of the EIN. They only seem to be able to see the business name you gave.

I do hope you understand that when you get an EIN you are now a full blown business entity. You will be paying taxes and if you simply decide not to file for the business the next year or whenever you will need to show how you disolved the business as they (IRS) will want to know what you did with it.

Make sure you understand the EIN and how it works with taxes. Its NOT just a blind SSN for paypal as many seem to think. ITs the real deal and you WILL be held liable for it every year.

[GrannyT]

Originally Posted by KingRay

Sofar they CANNOT see the real details of the EIN. They only seem to be able to see the business name you gave.

I do hope you understand that when you get an EIN you are now a full blown business entity. You will be paying taxes and if you simply decide not to file for the business the next year or whenever you will need to show how you disolved the business as they (IRS) will want to know what you did with it.

Make sure you understand the EIN and how it works with taxes. Its NOT just a blind SSN for paypal as many seem to think. ITs the real deal and you WILL be held liable for it every year.

This ties in with a comment I left on another thread - albeit from a UK perspective.

EB & PP are only 2 of the problems you face if you go the legit business route.

You really do need to have a long term strategy as to what you are going to do but most of all you MUST have your exit strategy in place.

As Kingray has said this is not an easy option to bullsh*t Paypal but if it is worked properly and if you have thought outside the box sufficiently it can most definitely get you where you want to be and solve a multitude of problems.

Because of the costs and implications I would say this is no use whatsoever to Vero sellers or foo-foo sellers. But for legit sellers who have fallen foul of the two scorpions it can be a life saver

[SweetPea]

I am about out of legit options where I can "prove" some type of "stealth" identity. I spoke to IRS and they stated it would be a felony for them to give even your business name out. I can tell Paypal anything and they can't find out (FYI). I realize all the ... that comes with it. I'd rather go completely stealth from everyone but can't figure out how to get past the ID check after 90 days without ditching the account.

I asked in another thread..didn't get an answer...My last blown account was tracked by my PC. Ebay told me I was using the same computer as a previous stealth account. Do I need to get a new PC? Advice would be appreciated!!

[SUVE]

I spoke to IRS and they stated it would be a felony for them to give even your business name out. I can tell Paypal anything and they can't find out (FYI).

That might be true--->It would be a felony for them to give even your business name out<-----HOWEVER.....that is NOT the same thing as them having information sharing agreements & exchange treaties in place where they are able to identify bank account holders, especially US A/C holders.

[GrannyT]

Concur