How many accounts?

[digirally]

After getting my one and only account banned last year (huge revenue on it, it pretty much paid for my life). I decided to get smarter and make multiple accounts.

I split my sales over 4 accounts and my business is growing, so I'm thinking about setting up another account to keep the sale figures under the radar so I don't raise any flags and get banned again.

I already created 4 LLCs for EINs/Banks, I feel like I'm registering for so many LLCs. Is this normal? Do the rest of you hold this many? Or even more? My accountant is asking me why I have so many LLCs and I told him I just had several different businesses. Just wanted to see what everyone else is doing.

[KDavis]

What is an LLC? Is that a bank or something?

Well, splitting up your accounts is a very good idea. I think it wouldn't hurt to make another one as a precaution!

[JamesNorth101]

Have a read about LLC on the forum. It stands for Limited liability company

Come in very handy for stealth in the US

[jamcocktail21]

You can have 10 LLC nobody will tell you anything as long as you pay taxes

Also don't forget to show your income to IRS for each LLC you have

Good luck

[nivo]

Originally Posted by JamesNorth101

Have a read about LLC on the forum. It stands for Limited liability company

Come in very handy for stealth in the US

UK person knows more about US person in US finances..

This does bring up a good question which I have wondered. But then again there are people that have many business so I guess nothing different.

IS the 10 LLC's a fact?

[digirally]

Originally Posted by jamcocktail21

You can have 10 LLC nobody will tell you anything as long as you pay taxes

Also don't forget to show your income to IRS for each LLC you have

Good luck

I know there's no problem. I pay all my taxes. But my question is if anyone else has a LOT of LLCs too? It's pretty expensive registering so many. Is there a better stealth alternative?

[GreenBean]

No.

Have to do what you have to do to play both the IRS & paypal games.

Spend money to make money.

[digirally]

Originally Posted by Greenie

No.

Have to do what you have to do to play both the IRS & paypal games.

Spend money to make money.

Gotcha I guess more LLCs for me and I'm just gonna tell my accountant that I simply have a lot of different businesses.

[glacier922]

Isn't a dba better? I mean it's a lot cheaper. Can you open the Same amount of bank accts? I'm thinking that that is one reasons why one would choose a dba or llc, but dba is better because its cheaper?

[secret storm]

Digirally

On your 4 LLC's accounts.

Do you use an address that you have access to registered on paypal and ebay?

Or can you use an address that you DONT have access to and still be able to pay your taxes as a LLC or DBA?

Another words does PAYPAL or EBAY mail anything about taxes, irs, or 1099 to the address you register with them.

[Kelly441]

I had abou 7 LLCs last year , there is nolimit just pay your taxes.

The send your 1099 to your email.

Originally Posted by secret storm

Digirally

On your 4 LLC's accounts.

Do you use an address that you have access to registered on paypal and ebay?

Or can you use an address that you DONT have access to and still be able to pay your taxes as a LLC or DBA?

Another words does PAYPAL or EBAY mail anything about taxes, irs, or 1099K to the address you register with them?

[secret storm]

Originally Posted by Kelly441

I had abou 7 LLCs last year , there is nolimit just pay your taxes.

The send your 1099 to your email.

Ok Thanks.

So you can use any address when you register with ebay or paypal. As long as its a valid address.

Ebay or Paypal does not physically mail any information to you reguarding the IRS or a 1099. Only email.

Thanks again!

[visionary]

What do you guys do for the name on the account? I have an LLC for one of my stealths and I just put my real name with my last name spelled wrong.
Also what about address for opening multiple LLC's? What address do you guys do for having the paperwork sent to you and bank statements?

[a.v.limited]

you can use what ever names or addresses you desire.

Please read the stealth guide

[yankee]

I don't understand any of these questions.

Why would there be a limit to how many companies you own? Is there a limit to how many cars or shoes you own? Warren Buffet owns thousands of companies for example. I own dozens and most of my LLC and Corps own other LLC and corps, etc...

for DBA, you get limits tax advantages and ZERO separation from ones self and personal assets, etc... Just stating facts, not giving advice.

The point of above is for thought, not any actual question really.

I will give you one piece of advice, opening many LLC and closing them will create questions from the IRS. They want you to own companies and expand business, create jobs and revenue and the USA/IRS writes tax laws for your significant advantage to encourage this. They do not like opening and closing companies(closing a company is going out of business). It looks like you may be opening companies for the wrong reasons and not for making business and creating wealth.

[yankee]

Originally Posted by glacier922

Isn't a dba better? I mean it's a lot cheaper. Can you open the Same amount of bank accts? I'm thinking that that is one reasons why one would choose a dba or llc, but dba is better because its cheaper?

Why is cheaper better? Is a Suzuki car better than a Ferrari? It's cheaper right? Is a cheaper attorney or tax consultant better than a more expensive one? Is a pair of $6.00 reading glasses better than a matched and precision pair of subscription glasses?

What advantages does a DBA offer you? What tax savings does a DBA offer you? What entity is a DBA? Who is responsible if a DBA is sued? Who is responsible if a DBA is audited?

Nothing wrong with a DBA but it is hard to say that because it is cheaper it is right for you.

My intention is not to sound like a jerk or give advice by any means. What the heck do I know? Who am I? My point is to make you think and do your research much more deeply.

[GreenBean]

Originally Posted by a.v.limited

you can use what ever names or addresses you desire.

Please read the stealth guide

You must stop spamming this forum with your totally irrelevant responses.


You are only serving to confuse newbies when you make yet another inane response.

AGAIN, you missed the flow of the thread.

USA based used wanted to discuss EIN/LLC and using multiple accounts.


To do that correct usage of names is IMPERATIVE.

Since it is obvious you may not know facts, stop posting and pretending you do.

[yankee]

Originally Posted by visionary

What do you guys do for the name on the account? I have an LLC for one of my stealths and I just put my real name with my last name spelled wrong.
Also what about address for opening multiple LLC's? What address do you guys do for having the paperwork sent to you and bank statements?

you

Each company should have a legitimate address. You can use a PO box if need be but a virtual or real office works wonders.

The naming of your company is up to you and will be checked against your companies states data base to make sure it is not already taken in the filing state. You may also want to check nationally to make sure if you plan on having a significant business(and who does not plan for this is crazy in my opinion. Plan to be rich and you might get rich. Plan small and odds are you will be small forever)

I want to open a new company called Titan Investments LLC but unfortunately another company already has a similar name in OH, so I will need to make it significantly different to make sure there is no confusion or potential law suits in the future.