Question about ebay and merchant account.

[beaches]

had an ebay about 10 years ago under my real info. can i set up an LLC and get a merchant checkout to avoid paypal problems. I would like to get paid for my merchandise not let my money sit and have paypal play games.

How would I go about this.I do not want ebay to have my real info because my account years ago was shut down due to a family member logging into his overdrawn account on my computer. and stupid me faxed all my info to ebay and still did not release the account.Thanks in advance

[makaveliagain]

EIN is the basic minimum you would really would need. What type of business sole proprietorship, partnership, LLC is irrelevant to the eyes of PayPal.

They are mostly worried about the new IRS laws they have to comply with. You may want to talk to a tax professional or a lawyer about everything else.

Nowadays because of the IRS laws the need the tax ID for the 1099K at the end of each year it is mostly a new Tax ID number you need.

If you PayPal was not limited with you SSN attached you might not need anything except a new address to use for PayPal.

I would still advise reading through the eBay stealth guide no matter what move you make.

[rsot]

Edited - good point ...

[makaveliagain]

Originally Posted by rsot

Maybe set up a few EIN accounts?

I would consult and Tax Professional before even setting up the first one. This member does not know what they are talking about. For each EIN you have to register a business with the IRS. I would be hesitant to create more than one without first trying it out and secondly consulting a tax professional.

[GreenBean]

Originally Posted by rsot

Maybe set up a few EIN accounts?

Tax advice?

[makaveliagain]

Originally Posted by GreenBean™

Tax advice?

Absolutely, if you can remove that comment you really should. If you are registering with the IRS for an EIN it is very serious. Not something simple like creating a new bank account.

[slim jim]

you can setup many accounts all as subsidiaries of a 'main' account. most tax consultants can show you how to do this

[beaches]

Thanks I will have to do more research into this to make sure I do not $crew myself..

[slim jim]

Originally Posted by beaches

Thanks I will have to do more research into this to make sure I do not $crew myself..

that is a great plan. it is not something that should be taken lightly

[bansheezone]

Originally Posted by beaches

had an ebay about 10 years ago under my real info. can i set up an LLC and get a merchant checkout to avoid paypal problems. I would like to get paid for my merchandise not let my money sit and have paypal play games.

How would I go about this.I do not want ebay to have my real info because my account years ago was shut down due to a family member logging into his overdrawn account on my computer. and stupid me faxed all my info to ebay and still did not release the account.Thanks in advance

You can open up a merchant account as a sole proprietor, make sure that you do some research before signing up with anyone, also you will need Authorize.net attaching it to eBay is easy and you can do this on a stealth account but you need to build up the account along with Paypal for the first month.

I only use merchant account services, best choice I made. If you need help just message me.