eBay Suspended & PayPal Limited Forums - Question about 200/20000 sending EIN?

Go take professional advice like we have suggested.

Only you know the business plan you have.

Do not keep on asking us to direct your tax procedures.

it's your choice to make sure you fulfil IRS obligations, not strangers on a forum

hustler_nyc

10-04-2014 08:47 PM

Re: Question about 200/20000 sending EIN?

You don't even live in U.S.A ...I'm brainstorming on here...thats all.
I said that off the jump. Its nice to get ideas from people who have been doing it successfully as this is this is come to be the best place to get unfiltered information on ebay and paypal.

GreenBean

10-04-2014 09:08 PM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by hustler_nyc (Post 594806)

Learn not to assume.

I sell on ebay USA.

I have EIN accounts.

I used a tax professional to make sure I get the best and safest deal to comply with paypal & IRS requirements.

Since you think you are above advice you don't want to hear so be it.

:smash:

yankee

10-04-2014 09:13 PM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by hustler_nyc (Post 594786)

DIRECTLY FROM IRS WEBSITE:

Sole Proprietors
You will be required to obtain a new EIN if any of the following statements are true.
You are subject to a bankruptcy proceeding.
You incorporate.
You take in partners and operate as a partnership.
You purchase or inherit an existing business that you operate as a sole proprietorship.<---

The last line could easily apply to ebay. I feel like just getting multiple EIN'S and use them while obviously making sure the accounts you have EIN'S have with out a doubt TOP customer service. This COULD work right?

No. The original EIN will no longer be valid. The only reason the IRS even allows one to operate under a Sole Proprietor is because it is the most taxed entity...It is the worst entity for liability, tax liability for almost all situations and quite frankly, other than being free, can not think of one other reason why you would want one....
You can only have one EIN as a sole Proprietor, Period.

I along with others have beat this topic into the ground. If you don't like what you hear, ask a different question or better question.

I would highly recommend an adviser.

To answer your last question, of course it works.

yankee

10-04-2014 09:15 PM

Re: Question about 200/20000 sending EIN?

Where do I send my bill? J/K.....Kinda.

okay	10-05-2014 12:57 AM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by hustler_nyc (Post 594625)

I really feel like information from people either seriously interested in the subject or people currently involved with the process (having a EIN in paypal) is valid. Everything else like Vogeltron said is just speculation and theory. Anybody that has a EIN in paypal please speak up! ANY information good/bad is useful.

http://ow.ly/ChYOs

vogeltron

10-05-2014 03:27 AM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by hustler_nyc (Post 594675)

Wait I think I'm reading this wrong? Your using your REAL name on your burned paypal account?? I know you HAVE to use real name obviously to get a EIN number duh, but as far as your real name.. that doesn't make sense if its a stealth.

Yes, I am using the exact same name the was burned many years ago. However, the all the other info has been changed. With a Sole Proprietorship when you get the 1099k it has your name on the form filed with the IRS. I could not take the chance. It has worked out this far for the past 4 years. You use the stealth practices to make sure you are not linked in any other way.

Unfortunately I don't have a name like John where I could put Johnathan or some variation like that. So I had to take the gamble and it has paid off thus far. Knock on wood.

My advice is if you go this route do not add the EIN to your PayPal account until they actually ask it you the tax id. So you have some time to see if they possibly link you for some other reason.

okay	10-05-2014 04:17 AM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by vogeltron (Post 594849)

Their must be very many accts using real matching name.

hustler_nyc

10-05-2014 03:53 PM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by vogeltron (Post 594849)

My advice is if you go this route do not add the EIN to your PayPal account until they actually ask it you the tax id. So you have some time to see if they possibly link you for some other reason.

That makes the most sense. Thanks! I just am worried about tax season and the money hitting my banks without proof. My only question I had thought about was ok...so I go into see a tax professional, when they ask the question "so you have your name on both accounts correct?" what the heck do I say? I mean I have to say no but they are made up names...

I plan on doing the EIN sole proprietorship but will go in to talk to someone about it first ..but how do I talk to them when my name ISN'T on the account and this person doesn't theoretically exist.

hustler_nyc

10-05-2014 03:55 PM

Re: Question about 200/20000 sending EIN?

Its not technically illegal I know in the eyes of the IRS but its sketchy telling someone outside looking in, you know?

rsot	10-05-2014 04:49 PM

Re: Question about 200/20000 sending EIN?

Quote:

Originally Posted by hustler_nyc (Post 595079)

Its not technically illegal I know in the eyes of the IRS but its sketchy telling someone outside looking in, you know?

Stealth + EIN will always look sketchy to people who don't understand

hustler_nyc

10-05-2014 06:53 PM

Re: Question about 200/20000 sending EIN?

Exactly! Anybody???

okay	10-06-2014 01:29 AM

Quote:

Originally Posted by rsot (Post 595095)

Stealth + EIN will always look sketchy to people who don't understand

Lmfao..at teh politician style lingo[emoji13]

Wait..a tax professional will act in such manner when finding this out? That's not..really...professional, no?

Where can I find real professional that will know what the deal is on mismatch name and handle accordingly like other sellers with this same deal?
Now Im biting all my nails off because I don't know who..who, to turn to[emoji20]
If I bring my phone with me and I will show the CPA that I'm a member here on this forum, hopefully he knows the method so it won't be sketchy.

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