PayPal social and stealth book

[Thisguy]

How do I work around PayPal wanting a social. And when I go to buy the eBay Stealth Book. Says 19.95 a month is that right or is it a one time fee?

[phaz0rz]

Using an EIN in place of SSN and upgrading to a business account is the work around.

The Stealth Book is a subscription so you're right about the monthly cost. You could just buy an account instead.

[Thisguy]

Thanks.. so register a business to get ein right? Any structure it should be? Sole proprietor, llc, Corp?

[phaz0rz]

LLC or Corp will work - Sole Prop will not. Sole Prop EIN's are issued in your real name (not a business name) so they don't work long-term.

This is how I usually do it:

- Get EIN from IRS.gov for a new LLC
- Upgrade PP account and sell for a few months
- File articles of organization with my state officially forming the LLC on the state level before taxes are due the first time.

[Thisguy]

Great thank you

[Thisguy]

What do you do for the physical address of the LLC or corp? I don't want to lie to Uncle Sam? Are you your own registered agent?

[phaz0rz]

I put all of my real information on the EIN application. Don't lie to the government.

When you go to upgrade your account, just leave the stealth address that's already on the account. The only thing that needs to match IRS records is the EIN + business name.

This is how I've handled all 3 of my business account upgrades. Each year when 1099k's are sent out, they are sent with stealth addresses printed on them. But that doesn't matter because the 1099k's are only used to calculate income on your personal tax return.

[Thisguy]

I assume you use a fictional address on PayPal so you don't get the 1099k when mailed. Just print it off?

[phaz0rz]

Yes, correct. They didn't use to even mail them out, but I think they do now. If you're creating your own account from scratch you could use some kind of address you have access to. Every time I've upgraded it's been on an account I bought here so I didn't consider using an address I have access to an option.

[Thisguy]

Thank you so much. As far as eBay do you set up as business or personal selling account? You've been a great help

[phaz0rz]

I've done both ways and it makes little difference in my experience. As long as the PP has been upgraded to business and you've given them a tax ID, you can leave the eBay as personal or upgrade it to business. My best account ever was a personal eBay connected to a business PP.

[Play]

Originally Posted by Thisguy

How do I work around PayPal wanting a social. And when I go to buy the eBay Stealth Book. Says 19.95 a month is that right or is it a one time fee?

Welcome

You should be able to cancel the subscription once you've read the book, or pay monthly for as long as you want to keep it.

[rsot]

Welcome to the forum - all the best as you master stealth