at what point do they ask for EIN?

[jack702]

I've restarted fresh and so far no issues. 24vc and bought a few accounts on here.

My question is:

When will eBay ask for EIN? I want to be ahead of the game and switch my account from personal --> business BEFORE they even ask. ( This is best correct?? ). I'm just trying to do things correct and make this last.

Also for EIN, on my last eBay account I had no issues for years but NEVER associated my EIN/Business with eBay. I left my ebay account as a "personal" one, but I did associate my EIN and Business with PayPal.

My paypal is actually still fine. No issues and my ebay is on a "soft" ban as they limited my relisting ability only until I send in "invoices" and documents.

So finally with the EIN - How does one get a different EIN? I was under the impression the IRS only issues you 1 - EIN? Using the same EIN would be disaster right?

TIA

[yankee]

Ebay will never ask for it but Paypal will. Could be at any time but typically around 120 items sold and if higher dollar items $12,000-17,000.00 mostly depending on how fast it comes in.

You get an EIN from the IRS via entities. You are allowed to own as many companies as you desire. Donald Trump owns a little over 500 companies as example. Warren Buffet owns thousands indirectly and directly. Kraft Company owns hundreds of other companies.

Every company has its own EIN. You can get ONE EIN number a day per entity type. So 365 LLC a year for example.

[jack702]

Originally Posted by yankee

Ebay will never ask for it but Paypal will. Could be at any time but typically around 120 items sold and if higher dollar items $12,000-17,000.00 mostly depending on how fast it comes in.

You get an EIN from the IRS via entities. You are allowed to own as many companies as you desire. Donald Trump owns a little over 500 companies as example. Warren Buffet owns thousands indirectly and directly. Kraft Company owns hundreds of other companies.

Every company has its own EIN. You can get ONE EIN number a day per entity type. So 365 LLC a year for example.

Okay thank you for clarifying. Stupid me but I thought someone said before you only get 1 EIN as an individual/sole proprietor.

Is it wise to change my ebay from personal ---> business? If so at what point? The account is over 90days old. Only $1100 in sales so far but starting to list more expensive items.

[yankee]

One can only have one EIN as a sole proprietor. That is nothing more than a second SS.

ENTITY such as LLC, Trust, Corp, LLP, LP, etc.... Most common being LLC and Corp.

ebay business really does not matter much unless you do big business and even then, only paypal matters because they handle the money.