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Old 11-01-2016
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Default How To File Taxes With Stealth Accounts?

I looked for answers on here, but can't seem to find?

Big lingering question I have is, how the heck to file taxes with stealth accounts? IRS still wants their cut right? And in order for you to be legitimate, You need to claim this as income, correct?

So, if you aren't registered as a business, then how do you file? Without Schedule C and just eat not getting tax write offs from business?

Thanks.
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

Seems like no one answers this type of question..
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

85% of people probably pay no tax here.
5% of people bury our heads in the sand and hope it will be ok aslong as we're paying the correct amount of tax anyway(myself included)
10% of people think all aspects of stealth are completely legal(lol)
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

I really do not understand this question at all.

You file your taxes like you always do. Business? Do you have one? If so, then file under your business. If not, declare the income as usually. Onoy you and your account would know these details.

What is your concern?

I mean, you have a checking account receiving income. What is different from any other account stealth or not?
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

Quote:
Originally Posted by yankee View Post
I really do not understand this question at all.

You file your taxes like you always do. Business? Do you have one? If so, then file under your business. If not, declare the income as usually. Onoy you and your account would know these details.

What is your concern?

I mean, you have a checking account receiving income. What is different from any other account stealth or not?

I'm just trying to find out what other stealthers are doing regarding filing taxes, who don't have a registered business, who are not having 1099's generated?

Are you:

A) Filing just a regular 1040/1040A and are NOT claiming money received under f@ke names and random addresses
B) Filing a regular 1040/1040A and ARE claiming funds received
C) Are you filing a Schedule C and claiming business income/business deductions/business expenses, etc.?

If it's B or C, then my follow up question is, what's going to happen if you get audited? They are going to want to see all evidence of that earned income right? Meaning PayPal receipts in all these different f@ke names and random addresses? How do you explain that?
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

Paypal receipts? For what? I have zero of these. I have paypal deposits into checking accounts. They those receivables are the same as any other income.

Me Personaly? I have corporations, Trusts, LLP and LLC's

To be clear, you file your income that you are withdrawing the same as you always would or however you set up your business. No one on this forum is going to give you accounting advice. Non of us know you, your businesses, you assets and liabilities, other incomes etc... You need a professional to help with these questions.
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

Since when is income tax mandatory, it is funny that people blindly pay it
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Old 11-02-2016
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Default Re: How To File Taxes With Stealth Accounts?

I purchased high limit accounts from here, upgraded them to business accounts and applied EIN's which I got from the IRS, then registered LLC's with my state for each business account. 1099's come (with stealth name/address) and I take them to my tax guy. Last year he just marked through the stealth name and address and said it's not important.
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Default Re: How To File Taxes With Stealth Accounts?

Quote:
Originally Posted by phaz0rz View Post
I purchased high limit accounts from here, upgraded them to business accounts and applied EIN's which I got from the IRS, then registered LLC's with my state for each business account. 1099's come (with stealth name/address) and I take them to my tax guy. Last year he just marked through the stealth name and address and said it's not important.
I appreciate the info. phaz0rz. That sounds more along the lines of what I envision doing. In my view, that is the most solid way to go about it...
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Old 09-13-2017
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Default Re: How To File Taxes With Stealth Accounts?

Hello there

I bought a 500/25K stealth account on here . No issues with the Ebay or Paypal account whatsoever. Recently Paypal requested that I add a SSN or EIN to the account . Right now its a 'soft limitation' I believe. I cant accept payments for my Ebay items until I update the EIN. My question is this. Im in California and the account was set up with a name and address/phone number in Massachusetts. To properly clear this hurdle with Paypal what has worked for you? Do I register the EIN with the IRS with my SSN,name,address OR with my SSN and the name and address thats on the stealth account on Paypal? Would I initially create it with the name of the person on the stealth account as a sole proprietorship or LLC ? Im confused. Hoping you can help. Phaz0rz you and others always give good advice on the forums. thank you and God bless. Rick
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Old 09-13-2017
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Default Re: How To File Taxes With Stealth Accounts?

Prob best to have started a new thread Chandiesel. All I can state on the topic is that you get the EIN from IRS website with your real info but you register the EIN on the pp in the stealth details of the pp (don't give your real ssn or info)
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Old 09-13-2017
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Default Re: How To File Taxes With Stealth Accounts?

hello again
PLEASE if anyone can help with this information I would be truly grateful. Im not in need of tax advice, I simply am trying to clarify some information I need about Paypal and how to best register the EIN on IRS and Paypal so that there are no issues with Paypal accepting the EIN for the stealth account.
Would I register the EIN on IRS as
Business Name
Stealth address

& EIN on Paypal as
Business name
Stealth address

Does it matter that Im in California and the stealth account is based out of Mass? Would I simply forward mail from the IRS to my address from the stealth address registered on IRS and Paypal with the EIN??

Also I would register as an LLC and NOT a sole proprietorship?

Thank you for your help with this . Greatly appreciated
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Old 09-13-2017
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Default Re: How To File Taxes With Stealth Accounts?

Spread your sales among 10 accounts hah
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