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Old 11-12-2012
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Default Legal way to sell on paypal/ebay and have a company

Hi

There is any risk having legal company INC and stealth account on ebay?? I mean with IRS or with sth else ??? I hope it does not. Any advise how to do it best ??

Thanks for info
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Old 11-12-2012
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No. But its illegal to have false tax info for your account. IRS needs real info. Ebay/paypal need your EIN to send IRS your legal numbers, Not at info.
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Old 11-13-2012
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ebay doesnt have anything to do with taxes, now paypal on the other hand you better not give them false info if you are selling a lot
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You dont need an LLC, INC, Comany, etc to be successful although it is useful for legit companies selling on ebay, amazon, their own site, etc. There is NO loophole for tax reasons. If you dont want to pay taxes by selling online dont sell.
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I want to pay taxes but also I want to open stealth account on ebay so I want to best solution to be good with ebay and IRS. So ebay will not ask me about SS or EIN ?? Any advise how to do it best ??
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Old 11-13-2012
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PP will eventually ask you if your sales or number of transaction hit a certain figure, though they can ask at any time before this figure is reached or exceeded.

Go to the IRS with regards to your tax issue: Internal Revenue Service
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With taxes I know what I should do. So they can not ask me about anything just for sales number or corporation number??
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Hi,
I have formed at least 7 llcs over the past few years.
Some I have converted to s corps,as my personal income can then be
Lessened by allowing a business loss to offset it.
Some are considered consulting companies.
Some are for retail sales.
I use a prominent CPA. He most always gets me a large portion of my
Self employment taxes rebated.
I have to make quarterly deposits,at my local bank. The IRS will send you a
Coupon book.
If you use a CPA,he can find lots of nifty loop holes to ease your paingood luck.
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Old 11-14-2012
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Quote:
Originally Posted by lmajchrowski View Post
With taxes I know what I should do. So they can not ask me about anything just for sales number or corporation number??
forum has not got any tax professionals.

You need that extra special advice from one

Get that for resolution of these matters.
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