pikachu10 | 12-18-2014 05:39 PM | Re: Need Help - PayPal asking for SSN or EIN on Stealth Sumer,
When you reach 200 sales and $20,000 in gross revenue, you have to file taxes. Most people on the forums keep themselves from reaching that amount on their accounts so they don't have to file taxes and go through a huge hassle of trying.
In the event they ask you for an SSN or EIN, go Internal Revenue Service and apply for an EIN online. Sign up as an LLC (you don't have to get a DBA). Make an EIN as an LLC, match the business name on the EIN with the PayPal business name registered on your account. If you have a personal PayPal for your stealth account, you'll have to upgrade it to a Business (which it automatically does when you choose an EIN). Once you get an EIN, which you can get online from the IRS, wait 2 weeks (because it has to ripple through the IRS system before the EIN registers). Two weeks after you've gotten the EIN, give it to PayPal. Then, track your sales and make sure you don't go over 200 sales and $20,000 gross revenue so you don't have to file taxes.
That's what you do. I suggest you read the stealth guide to learn more about stealthing. |