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  #1  
Old 02-15-2014
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Default Am I missing something?

Ok. Stealth PayPal is under Name of example: John Smith
I have reached 20k and need to add EIN or SSN.

Should I upgrade to a business account in name of: "Wholesale Toys" with PayPal then register an EIN with IRS under name of "Wholesale Toys" so when I put EIN with PP it will match with IRS records.

1- Am I right?
2- Will they check the address too? or just name

3- any other suggestions? or corrections?
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  #2  
Old 02-16-2014
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Default Re: Am I missing something?

Quote:
Originally Posted by Joenice View Post
Ok. Stealth PayPal is under Name of example: John Smith

I have reached 20k and need to add EIN or SSN.



Should I upgrade to a business account in name of: "Wholesale Toys" with PayPal then register an EIN with IRS under name of "Wholesale Toys" so when I put EIN with PP it will match with IRS records.


Yes you are correct, I have accounts with EIN and just the name match as you have described above and all is fine

However it is probably wise to use an address that has never been linked to a suspended eBay/paypal account for the long term, as long as the address is clean I don't think it would be an issue if it didn't match, but the initial check is if the business name matches

Last edited by GreenBean; 02-16-2014 at 12:24 AM.
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  #3  
Old 03-17-2014
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Default Re: Am I missing something?

Just did all this. Signed up for sole prop. All registration with the county is in my real name. My name is not john smith. But in paypal, it's under john smith. Got an EIN. Upgraded to business in paypal, and added my ein in there. Typed my business name "ToysETC" as an example. Paypal is showing we will confirm the business name and my name John Smith. It will work out okay correct, even though my name is not john smith. "ToysETC" is what I put in the county and paypal? Thanks. This is the first time I'm doing this and I am nervous. I wanted to utilize my 100/5000 account.
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Old 03-17-2014
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Default Re: Am I missing something?

Yes, it'll work just fine.

If not, it'd be a first.
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  #5  
Old 03-17-2014
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Default Re: Am I missing something?

What about selling closer to your limits? I got a 100/5000 now, but I had a 10/1000 like a month before. Can I start selling like 50 this month now? Thanks.
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Old 03-18-2014
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Default Re: Am I missing something?

Yes, go for it.
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Old 03-18-2014
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Default Re: Am I missing something?

Just be careful with your first listing of items if you have not listing anything yet.

Even with all the hard work you put in it does not make the account mc999 proof.

Go slow at the start and then work it into a nice money maker for you.

Good job!!!
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