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  #1  
Old 09-09-2014
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Default Do you have EIN number for each stealth account?

I'm seeing many people have many eBay Stealth accounts. I know how to change IP, so that won't be a problem for me. My question is the tax information. Do you have a EIN number for each stealth account (a company for each stealth account)?

For people who have stealth accounts, are you looking to increase your sales (eventually many a few years) to get it up to point that you will need to provide tax information (for PayPal to send you 1099)? or are you looking to sell without a company EIN and just have little sales for each stealth account?
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Old 09-09-2014
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Default Re: Do you have EIN number for each stealth account?

I also would like to know how many EIN Numbers total everyone has on here.

Would tons of red flags be going off with the IRS if I used 50 EIN Numbers?

I know it wouldnt for some one like Warren Buffett because he owns way over 50 business's
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Old 09-09-2014
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by secret storm View Post
I also would like to know how many EIN Numbers total everyone has on here.

Would tons of red flags be going off with the IRS if I used 50 EIN Numbers?

I know it wouldnt for some one like Warren Buffett because he owns way over 50 business's

As long as you stay current on your taxes you can have as many businesses as you want
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Old 09-09-2014
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by secret storm View Post
I also would like to know how many EIN Numbers total everyone has on here.

Would tons of red flags be going off with the IRS if I used 50 EIN Numbers?

I know it wouldnt for some one like Warren Buffett because he owns way over 50 business's
So long as you are conforming to state & Federal tax requests, you can have what you want.

You take professional tax advice to set eveything up correctly.


Each tax entity needs to be different to fulfil the Tax needs AND to avoid linking stealth accounts.

All the IRS want to see are numbers of amounts of tax being paid.

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Default Re: Do you have EIN number for each stealth account?

Quote:
For people who have stealth accounts, are you looking to increase your sales (eventually many a few years) to get it up to point that you will need to provide tax information (for PayPal to send you 1099)? or are you looking to sell without a company EIN and just have little sales for each stealth account?
Long term goal is to have strong eBay accounts each with its own EIN and a Wyoming corporation and be as legitimate as possible. If you are selling ⊗⊗⊗⊗ you do not want an EIN to draw attention.

Last edited by aspkin; 09-13-2014 at 07:55 PM.
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Old 09-09-2014
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Default Re: Do you have EIN number for each stealth account?

Tons of ways to have tons of EIN numbers too. One single corporation can own dozens of other corporations, LLC, etc...

For example, an S-CORP might own 50 pieces of real estate with each property either being held in an LLC or Trust, etc.. Right there one company will have 51 EIN numbers.

I do the same thing, but with businesses and lending etc... You can own as many companies, entities, etc as long as they are handled according the state and federal laws along with tax liabilities, etc... Same as you can own as many homes or automobiles..
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Old 09-09-2014
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by toml3030 View Post
Long term goal is to have strong eBay accounts each with its own EIN and a Wyoming corporation and be as legitimate as possible. If you are selling ⊗⊗⊗⊗ you do not want an EIN to draw attention.
The IRS does not care what you sell, only that the taxes are paid.

Selling ⊗⊗⊗⊗ will draw other sorts of attention, however and you definitely don't want that. I don't care how smart you may think you are, eventually you will get caught.

Also, there is no requirement that your corporation or LLC be located in Wyoming. They just have better privacy laws there.

But I would recommend that you start out more slowly than immediately setting up 50 EIN's.

I always wait until they request an EIN. By then, I can usually tell if the account is going to last or not. If not, I let the account go.

And nobody here is going to give you exact numbers when it comes to how many EIN's they may have. Suffice it to say, some members have 1 and some have more than a dozen.
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by jeffweico View Post
I always wait until they request an EIN. By then, I can usually tell if the account is going to last or not. If not, I let the account go.
Does that mean you start with personal information (no company here), and then if they ask for it, you start apply for a business (for instance, LLC) and get an EIN number?
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aspkin (09-13-2014)
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by funny0529 View Post
Does that mean you start with personal information (no company here), and then if they ask for it, you start apply for a business (for instance, LLC) and get an EIN number?
You do need to take into account your business plan when you start the (new) stealth account.

If you already perceive you are going to sell over 200 item/$20,000 it would be preferable to 'go business'.

The other option is spreading sales over accounts.

Keeo in mind, taxes still need to be paid.

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Default Re: Do you have EIN number for each stealth account?

As long as you pay your taxes you will not draw attention of the IRS, but Opening up that many EINs is an overall eyebrow raiser and is not smart if what you are selling is china special.
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Old 09-13-2014
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Default Re: Do you have EIN number for each stealth account?

With My system I created ... I dont ever have to worry about TAXES Hahahaha I cash out with Gift cards from Walmart.com and turn those gift cards into cash.. I wish I could tell my whole System.. but I CANT!!! LOL
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by Nyco View Post
With My system I created ... I dont ever have to worry about TAXES Hahahaha I cash out with Gift cards from Walmart.com and turn those gift cards into cash.. I wish I could tell my whole System.. but I CANT!!! LOL
If you don't worry about taxes, you should be very worried, lol
In all seriousness, it really depends on how much money you are handling. Great if you are collecting a few grand a month but once that number gets up into the tens of thousands and long before that even, set up a business correctly and reap the rewards....
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Default Re: Do you have EIN number for each stealth account?

Quote:
Originally Posted by yankee View Post
If you don't worry about taxes, you should be very worried, lol
In all seriousness, it really depends on how much money you are handling. Great if you are collecting a few grand a month but once that number gets up into the tens of thousands and long before that even, set up a business correctly and reap the rewards....

yea I keep it low for the Moment but believe me I know what im doing.. I know about business. I do have a Business Administration college Degree lol so theres no need to school me hahaha!
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  #14  
Old 09-13-2014
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Default Re: Do you have EIN number for each stealth account?

There are those who rotate stealth accounts throughout the year to prevent EIN/SSN requirement and there are those who setup business accounts with an EIN.

Personally I'll setup and use the account until the requirement comes and then I'll decide what I want to do with the account.
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