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  #1  
Old 05-14-2014
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Default LLC and EIN

Can you create ebay/paypal with a variation of your name and then change it to your business name later that matches EIN? I do not want to waste LLC and EIN if it gets limited. Thanks!!
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Old 05-15-2014
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Default Re: LLC and EIN

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Originally Posted by michelle65401 View Post
Can you create ebay/paypal with a variation of your name and then change it to your business name later that matches EIN? I do not want to waste LLC and EIN if it gets limited. Thanks!!
PayPal seldom allows name changes. From what I understand as long at the Business Name on the EIN matches that registered with PayPal they will take it. If you use a variation of your name on PayPal when you get your 1099k it will have that name printed on for tax purposes not the business name. Just a warning. I would talk to an accountant but lets say your name is William and you use Willie as a variation or Jenefier and you use Jennie or something like that. As long as you file your taxes correctly and aren't in some crazy income bracket that is more prone to and audit anyways. I would not lose sleep over it. However, do not use a variation of you last name. Maiden name I have no clue about.
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Old 05-15-2014
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Default Re: LLC and EIN

Haha I am a CPA I know about filing my taxes...I won't have any income until I get the LLC and EIN back but wondering if I could create a couple accounts in a name variation, work on buying a few things and let them age while I am filing LLC and EIN then change the name to my business name when I get LLC and EIN back and change bank accounts, etc to my business accounts. I just don't want to waste LLC, EIN and bank accounts. I work full time, its hard to get the time to go and open bank accounts plus I want to be legal as possible and open them in the LLC name. Thanks!
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Old 05-15-2014
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Default Re: LLC and EIN

A CPA in the midsts keep up the good information then
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Old 05-15-2014
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Default Re: LLC and EIN

If you open a personal paypal account you can use a name variation, and than when you add the EIN, at that time you can upgrade to a business paypal account, which takes a couple minutes and little information, and than you can add your business name that will match the EIN

The name variation will be the contact name that stays on the account

The contact name cannot be easily changed, you can only change it if there is one error meaning u need to add or subtract one,letter from the first and last name

Other than that simple change you will be required documents

Business names can be changed easily
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Old 05-15-2014
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Default Re: LLC and EIN

Great thanks! I think my question is answered that it will be ok to add name variation and then change it to business to submit my EIN when requested that matches
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Default Re: LLC and EIN

Yes , I start all my accounts this way , I never give more information than required. I try to spread sales out enough so I never get asked for more documentation but , if a tax ID is required I'll add it after I'm asked, of course if I see I'm on pace I'll have everything ready, but no sense giving more info than asked, once used than it can never be re used again
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Old 05-15-2014
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Default Re: LLC and EIN

Keep in mind it takes only a couple minutes to get an EIN ion the IRS website and you have a month or more to file LLC/Corp etc...
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