What to do after 200 transaction/ $ 5000 sales on pp

[shani1212]

Hi guys! After exceeding 200 transactions/or $ 5000 sales on PP in a stealth account, PP will ask for SS# or EIN number. I'll not be able to provide a SS # because its a stealth account, but EIN. Is there any other options beside providing PP w/ EIN? Your advice/input will be highly appreciate. Thanks

[GreenBean]

EIN is usually OK for paypal's compliance with tax request.

Adding an EIN can/does avoid the hassle of talking to paypal.

[bootleg.101]

Originally Posted by GreenBean

EIN is usually OK for paypal's compliance with tax request.

Adding an EIN can/does avoid the hassle of talking to paypal.

Do you setup the EIN under the stea lth name and address? Do you create a "company" under that name and address to use for the EIN?
How would you do it so that eBay doesnt trace your real info AND you dont get into trouble with the IRS for using stealth info??

[aspkin]

Originally Posted by shani1212

Hi guys! After exceeding 200 transactions/or $ 5000 sales on PP in a stealth account, PP will ask for SS# or EIN number. I'll not be able to provide a SS # because its a stealth account, but EIN. Is there any other options beside providing PP w/ EIN? Your advice/input will be highly appreciate. Thanks

Another option? Sell with multiple accounts, rotating your accounts as to not surpass the limits. Some rotate accounts throughout the year others make solid business accounts with EINs. There options.

[rockitaway]

Though, even with an EIN, if you sell too fast or change categories quickly, you will still get nailed for more info.

Also be sure to look into the tax implications of EINs/Corps...

[rsot]

Rotate sales through multiple stealth accounts

[GreenBean]

Originally Posted by rockitaway

Though, even with an EIN, if you sell too fast or change categories quickly, you will still get nailed for more info.

Also be sure to look into the tax implications of EINs/Corps...

Your tax professional helps there.

[skinnyhardaway]

Yeah rotating sales through accounts is the best way to go especially for long term selling.

[phunglim]

You will need a SS# or a EIN for an existing corporation in order to get an EIN. I've bought Shelf corps that came with EIN and never changed owner details and registered new EIN under the original EIN and work perfectly. Yes could get costly but you will remain stealth and limits/amounts will increase without worries. Alternative is to register multiple accounts like others have mentioned and stay under limits.