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Old 10-03-2017
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Default EIN and upgrading to business

I reached 200 orders sometime during the night and Paypal requested the expected SSI EIN or Tax ID number. When I look up Tax ID number I get applications for an EIN. If I enter an EIN paypal wants me to upgrade to a business account. IS it safe to upgrade a stealth account? If so will I need to provide any documents? Sorry, this is my first stealth account and it was purchased. I can't afford to buy the book yet.
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Default Re: EIN and upgrading to business

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Originally Posted by Lucynda View Post
I reached 200 orders sometime during the night and Paypal requested the expected SSI EIN or Tax ID number. When I look up Tax ID number I get applications for an EIN. If I enter an EIN paypal wants me to upgrade to a business account. IS it safe to upgrade a stealth account? If so will I need to provide any documents? Sorry, this is my first stealth account and it was purchased. I can't afford to buy the book yet.
You've sold 200 items, but cannot afford $20 to learn how to run your business?

Seems that you may want to reexamine your priorities.

They want the EIN for the corporation and your SSN. EIN must be real and match corporation info when they do the 1099 at the start of the year. If it bounces back as false, your account gets limited until the info is corrected.
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Old 10-03-2017
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Default Re: EIN and upgrading to business

You should really read the stealth guide... I'm not kidding on this.

And yes, it's safe to upgrade. Regardless, you'd need to upgrade it eventually anyways.
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Old 10-04-2017
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Default Re: EIN and upgrading to business

Get an EIN and upgrade the account. Tons of posts about how to do this correctly
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Default Re: EIN and upgrading to business

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Originally Posted by BaggaDonuts View Post
You've sold 200 items, but cannot afford $20 to learn how to run your business?

Seems that you may want to reexamine your priorities.

They want the EIN for the corporation and your SSN. EIN must be real and match corporation info when they do the 1099 at the start of the year. If it bounces back as false, your account gets limited until the info is corrected.
So there going to ask me for a SSN when i put the EIN in the account?
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