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-   -   How many paypal can you have? Should I use Tax ID or ssn? (https://www.aspkin.com/forums/paypal-talk/105612-how-many-paypal-can-you-have-should-i-use-tax-id-ssn.html)

stressed08 03-03-2017 12:17 PM

How many paypal can you have? Should I use Tax ID or ssn?
 
I once had an account fall below standard... and built back up another account and paypal. Now.. both accounts are back to top rated! I'm doing better sales-wise on the new account and its time to confirm my account to lift my limits.

Should I use my SSN, and link my two PayPal accounts (and possibly my two eBay accounts) now that they are both strong? (Top rated, and Top rated plus)

Or should I add the Tax ID I applied for when I started the acount.. and keep both ebays and both paypals entirely separate?

Both seem to have their plusses and minuses... namely simplicty if I keep it all under SSN.. and possibly tax advantages of keeping them separate as well as a backup account incase anything ever goes wrong. However, both are top rated, I accept all returns now, and I am in a very low risk industry.


I am a little nervous leaving a Tax ID inactive... as my state came after me for $75,000+ in 'sales tax' recently based on a completely fabricated estimated number for a Vendors license... of which I never used and never collected a dollar. Is there any maintainence that needs to be done on a tax ID... quarterly filing or anything like they apparently expected me to do with sales tax? Or can I leave it dormant for now?

phaz0rz 03-03-2017 12:26 PM

Re: How many paypal can you have? Should I use Tax ID or ssn?
 
DO NOT use the same Tax ID on two accounts, as doing so will link the accounts. You probably wouldn't notice anything at first but as soon as Paypal sends 1099's for you and notices the two accounts with the same SSN, both accounts will be limited.

It's best to only use your SSN on one account (which most of us can't do anymore) and then use a unique EIN on each account you want a tax ID on.

Different states have different reporting requirements for businesses. In my state I'm not required to report anything at any point, other than when I file my taxes. In certain states (Mass, for example) you have to pay a large sum each year to renew your articles of incorporation.

On the federal level at least, I don't believe there's anything wrong with leaving a Tax ID inactive. I have a two year old EIN I've never used. I never registered that business with my state though so they aren't really concerned.

Just for the sake of keeping business and personal affairs separate, I recommend using your EIN if you decide to give a Tax ID. Then open a business bank account and have your transfers go there.

stressed08 03-03-2017 12:54 PM

Re: How many paypal can you have? Should I use Tax ID or ssn?
 
Thank you for the reply. What you are saying is if I go the SSN route... I would use the SSN and have one business and one personal account, as per PayPal rules. However if I go Tax ID route... I can in theory have as many accounts as I want... so long as they each have a separate Tax ID number?

Edit: i think I'm using Tax ID and EIN interchangably.. Its the EIN i have. I don't remember giving them a business name of any sort when I signed up.. but I signed up using all of my actual info and ssn.

Jingling2017 03-07-2017 08:11 PM

Re: How many paypal can you have? Should I use Tax ID or ssn?
 
Quote:

Originally Posted by stressed08 (Post 833827)
Thank you for the reply. What you are saying is if I go the SSN route... I would use the SSN and have one business and one personal account, as per PayPal rules. However if I go Tax ID route... I can in theory have as many accounts as I want... so long as they each have a separate Tax ID number?

Edit: i think I'm using Tax ID and EIN interchangably.. Its the EIN i have. I don't remember giving them a business name of any sort when I signed up.. but I signed up using all of my actual info and ssn.

If you have an EIN you had to enter some type of name for the business you created.


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