Question about Paypal Business Upgrade - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 04-27-2015
Junior Member
 
Join Date: Apr 2015
Posts: 61
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Question about Paypal Business Upgrade

Before I found out alot more info on these threads I filed a sole prior and obtained an EIN number and put it in my paypal when I signed up. I realized I need to open a S corp and upgrade paypal to a business where the business name on paypal must match the name on the S corp in order to work. My question is do I file for one now and add it to paypal when I upgrade? I am leaving the country for a few months so I was wondering would it be a good idea to do it now or when I get back. The reason I am asking is because now paypal has my ein number connected to my real name and on paypal is my stealth name. Ive only sold about 8 items. I have one more month of selling before I leave. Any advise would be very helpful. Thanks
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 04-28-2015
GhostOfAmazon's Avatar
Executive [VIP]
 
Join Date: Apr 2015
Posts: 2,975
Thanks: 520
Thanked 717 Times in 520 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by Stealthzadar View Post
Before I found out alot more info on these threads I filed a sole prior and obtained an EIN number and put it in my paypal when I signed up. I realized I need to open a S corp and upgrade paypal to a business where the business name on paypal must match the name on the S corp in order to work. My question is do I file for one now and add it to paypal when I upgrade? I am leaving the country for a few months so I was wondering would it be a good idea to do it now or when I get back. The reason I am asking is because now paypal has my ein number connected to my real name and on paypal is my stealth name. Ive only sold about 8 items. I have one more month of selling before I leave. Any advise would be very helpful. Thanks
All my PayPal accounts are "business accounts", for the sole reason that it allows me to change the "Business Name" (The name the party paying me or that I am paying) sees. If you're asking if you need to wait until the corporation is filed before getting a PayPal business account, the answer is no.

Business accounts on PayPal aren't really anything special. You're taking them wayyyy to seriously.
Reply With Quote
  #3  
Old 04-28-2015
123's Avatar
123 123 is offline
Executive [VIP]
 
Join Date: Jul 2010
Posts: 5,002
Thanks: 388
Thanked 1,221 Times in 702 Posts
Activity: 44%
Longevity: 73%
iTrader: (631)
Default Re: Question about Paypal Business Upgrade

I find it always best to not add an EIN right until paypal pretty much requires it that way atleast you know its a good account and has lasted a while
__________________


Guaranteed FRESH IP Addresses for amazon, eBay, and PayPal - 24vc.com
Reply With Quote
  #4  
Old 04-28-2015
Senior Member
 
Join Date: Sep 2011
Posts: 3,126
Thanks: 11
Thanked 750 Times in 578 Posts
Activity: 0%
Longevity: 63%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

So much confusion, so little time.

You have a sole proprietorship, not a sole prior.

Why do you even need an S corp? Why a corp at all?

PP only verifies the EIN number, not the name so the name doesn't matter.

Every time I added an EIN I had to upgrade to a business account. Are you absolutely sure you haven't upgraded, and you're not talking about something else?
Reply With Quote
  #5  
Old 04-28-2015
plumsake2's Avatar
Senior Member
 
Join Date: Apr 2013
Posts: 358
Thanks: 120
Thanked 178 Times in 126 Posts
Activity: 0%
Longevity: 51%
iTrader: (14)
Default Re: Question about Paypal Business Upgrade

Paypal also verifies the name of the legal entity. For a sole proprietor, that would be your real name, which is why that business structure is not advised for stealth as it will link back to you and your real information. Whereas with a corporation, the legal entity is the business and so the business name is what needs to match and that's easy enough to do -- just put the business name exactly as seen on your EIN and business documents when you upgrade your Paypal to a business account.

See this topic for more information (specifically post #28): http://www.aspkin.com/forums/paypal-...tml#post606102
Reply With Quote
  #6  
Old 04-28-2015
Senior Member
 
Join Date: Sep 2011
Posts: 3,126
Thanks: 11
Thanked 750 Times in 578 Posts
Activity: 0%
Longevity: 63%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

jeffweico is obviously the go-to guy on this issue. His info is always solid.

My research and experience indicates PP only verifies that the EIN is ACTIVE at the time of you give it to them.

There is no mechanism for checking names against EIN's.

As the thread referenced shows, the name matters if you exceed the 20K limit and they send a 1099 to the IRS. Quote "my sales are above 20k a year".

The OP in the linked thread ran into trouble because he EXCEEDS the 20K limit, and when PP sends a 1099 to the IRS and it becomes obvious the names don't match, they will refer it back to PP because of the mismatch.

I've had EIN's running on some accounts with mismatched names for over 4 years without an issue, but I'm careful to never get close to the limit.

And it's possible things could change any time.
Reply With Quote
  #7  
Old 04-28-2015
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,042
Thanks: 5,509
Thanked 9,022 Times in 7,036 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by dallis View Post
jeffweico is obviously the go-to guy on this issue. His info is always solid.


And it's possible things could change any time.
There's also another more important piece of info to give out.

Professional tax help is needed to make sure all bases are covered to meet IRS & Paypal needs.

No-one here is a tax professional.
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
  #8  
Old 04-28-2015
GhostOfAmazon's Avatar
Executive [VIP]
 
Join Date: Apr 2015
Posts: 2,975
Thanks: 520
Thanked 717 Times in 520 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by GreenBean View Post
There's also another more important piece of info to give out.

Professional tax help is needed to make sure all bases are covered to meet IRS & Paypal needs.

No-one here is a tax professional.
I had a summer job at H&R Block when I was 17....

But in all seriousness, yes, please check with a professional for any legal/medical/tax advice.
Reply With Quote
  #9  
Old 05-01-2016
Senior Member
 
Join Date: May 2015
Posts: 210
Thanks: 1
Thanked 25 Times in 23 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by dallis View Post
jeffweico is obviously the go-to guy on this issue. His info is always solid.

My research and experience indicates PP only verifies that the EIN is ACTIVE at the time of you give it to them.

There is no mechanism for checking names against EIN's.

As the thread referenced shows, the name matters if you exceed the 20K limit and they send a 1099 to the IRS. Quote "my sales are above 20k a year".

The OP in the linked thread ran into trouble because he EXCEEDS the 20K limit, and when PP sends a 1099 to the IRS and it becomes obvious the names don't match, they will refer it back to PP because of the mismatch.

I've had EIN's running on some accounts with mismatched names for over 4 years without an issue, but I'm careful to never get close to the limit.

And it's possible things could change any time.
So if my PP and Sole Proprietor EIN are both in my real name, do you guys think that would be okay(if I go over the $20k limit?)

What this says to me is that:

1. When I upgrade to Business, they just check that my EIN is active

2. If I make enough to have them send a 1099, no issue is caused so long as the IRS has the same name on the registered EIN and the 1099 that is received.

Does anyone see any potential problem if I upgrade and add a Sole Proprietor EIN that is in my name?
Reply With Quote
  #10  
Old 05-01-2016
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 7,824
Thanks: 2,279
Thanked 2,619 Times in 1,920 Posts
Activity: 45%
Longevity: 47%
iTrader: (2)
Default Re: Question about Paypal Business Upgrade

stealthzadar, If you want to open a corp, just start a whole new account and leave the current account as is.

The entity you choose has more to do with your tax situation and needs and only you and your advisers such as accountant will know what is best for you.
Reply With Quote
  #11  
Old 05-05-2016
Senior Member
 
Join Date: May 2015
Posts: 210
Thanks: 1
Thanked 25 Times in 23 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

I'm coming up on 200 sales... Does anyone have a comment on my question please?
Reply With Quote
  #12  
Old 05-05-2016
GhostOfAmazon's Avatar
Executive [VIP]
 
Join Date: Apr 2015
Posts: 2,975
Thanks: 520
Thanked 717 Times in 520 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by EWHendo View Post
I'm coming up on 200 sales... Does anyone have a comment on my question please?
Comment? Yes: You have made many many enemies here, by your insults and your failure to listen to quality advice. Because of your actions, very few people are going to bother trying to help you.
__________________
How to get increased selling limits on eBay:
http://www.aspkin.com/forums/ebay-di...0-calling.html
Reply With Quote
The Following 2 Users Say Thank You to GhostOfAmazon For This Useful Post:
realdeals (05-07-2016), yankee (05-07-2016)
  #13  
Old 05-05-2016
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,042
Thanks: 5,509
Thanked 9,022 Times in 7,036 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Question about Paypal Business Upgrade

Then set an example yourself, GoA.

Dont let this continue. Offer an olive branch and try to mend bridges.

Or, ignore the poster.

Only a thought.

Reply With Quote
  #14  
Old 05-05-2016
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,042
Thanks: 5,509
Thanked 9,022 Times in 7,036 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by EWHendo View Post
So if my PP and Sole Proprietor EIN are both in my real name, do you guys think that would be okay(if I go over the $20k limit?)

.........

Does anyone see any potential problem if I upgrade and add a Sole Proprietor EIN that is in my name?
Do a search of posts by jeffweico and yankee.

Below are their profiles.

You should reach your own conclusion rather than get peeved when others reply and you dislike what is said.

eBay Suspension & Paypal Limited Forums - View Profile: jeffweico

eBay Suspension & Paypal Limited Forums - View Profile: yankee

For more aid, read over this site too....

www.irs.gov

Full of facts!

Good Luck

Reply With Quote
  #15  
Old 05-06-2016
Senior Member
 
Join Date: May 2015
Posts: 210
Thanks: 1
Thanked 25 Times in 23 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Thanks for the leads Greenbean... I didn't mean to come off as peeved about any of responses about tax ID, and apologize if I did.

GoA - I will not apologize for my world view. I'm hoping in time, others can separate business advice and extra curricular personal conversation. I concede that my attempt to start that precedent here has failed. I apologize for the climate that my threads in the everything else section have caused elsewhere on the board.
Reply With Quote
  #16  
Old 05-06-2016
GhostOfAmazon's Avatar
Executive [VIP]
 
Join Date: Apr 2015
Posts: 2,975
Thanks: 520
Thanked 717 Times in 520 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

It has nothing to do with your political views, and everything to do with your failure to take quality advice in topics such as having 40+ unpaid item cases opened against and account.
__________________
How to get increased selling limits on eBay:
http://www.aspkin.com/forums/ebay-di...0-calling.html
Reply With Quote
The Following User Says Thank You to GhostOfAmazon For This Useful Post:
yankee (05-07-2016)
  #17  
Old 05-07-2016
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 7,824
Thanks: 2,279
Thanked 2,619 Times in 1,920 Posts
Activity: 45%
Longevity: 47%
iTrader: (2)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by GhostOfAmazon View Post
It has nothing to do with your political views, and everything to do with your failure to take quality advice in topics such as having 40+ unpaid item cases opened against and account.
and wanting a refund and keeping an item.

These things give many of us the impression that you are not the type of person we want to help EWHendo

Greenbean always try to help people even no matter what. Kudos to her for that ability!
Reply With Quote
The Following User Says Thank You to yankee For This Useful Post:
realdeals (05-07-2016)
  #18  
Old 05-07-2016
Senior Member
 
Join Date: May 2015
Posts: 210
Thanks: 1
Thanked 25 Times in 23 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Right, I will avoid hyperbole and buyer perspective questions moving forward as well. I did not fully read the rules of the forums regarding buyer-side discussion, and take full onus for that. Again, my apologies.

I guess what my question boils down to is this...
I understand that name alone is not enough to link a stealth account to a banned account. I'm trying to figure out if adding a sole proprietor EIN in my real name (as my stealth is in my real name also) makes the confirmation of my name on my stealth account strong enough to link to my banned account.

I have seen this question posed by others as well, with clear resolution in the threads I've read. If not for me, perhaps someone can shed light on this question for the sake of others in this position
Reply With Quote
The Following User Says Thank You to EWHendo For This Useful Post:
yankee (05-07-2016)
  #19  
Old 05-07-2016
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 7,824
Thanks: 2,279
Thanked 2,619 Times in 1,920 Posts
Activity: 45%
Longevity: 47%
iTrader: (2)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by EWHendo View Post
Right, I will avoid hyperbole and buyer perspective questions moving forward as well. I did not fully read the rules of the forums regarding buyer-side discussion, and take full onus for that. Again, my apologies.

I guess what my question boils down to is this...
I understand that name alone is not enough to link a stealth account to a banned account. I'm trying to figure out if adding a sole proprietor EIN in my real name (as my stealth is in my real name also) makes the confirmation of my name on my stealth account strong enough to link to my banned account.

I have seen this question posed by others as well, with clear resolution in the threads I've read. If not for me, perhaps someone can shed light on this question for the sake of others in this position
You should have no problems at all. Paypal will ask this one simple question: Does this number match this name? and the IRS response is: No or Yes
Reply With Quote
  #20  
Old 05-07-2016
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 42,042
Thanks: 5,509
Thanked 9,022 Times in 7,036 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Question about Paypal Business Upgrade

Quote:
Originally Posted by yankee View Post
You should have no problems at all. Paypal will ask this one simple question: Does this number match this name? and the IRS response is: No or Yes
To add to this correct info:

There can be no variations of the name, no typos nothing.

If your info is , say this example.

Hendo' Sales. #1234567. (Tax number)

You must not submit

Hendo Sale #1234567

Must match precisely.

Reply With Quote
  #21  
Old 05-07-2016
Senior Member
 
Join Date: May 2015
Posts: 210
Thanks: 1
Thanked 25 Times in 23 Posts
Activity: 0%
Longevity: 35%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

Thank you much guys, I do really appreciate your help
Reply With Quote
  #22  
Old 05-08-2016
Senior Member
 
Join Date: Feb 2013
Posts: 404
Thanks: 50
Thanked 99 Times in 86 Posts
Activity: 0%
Longevity: 52%
iTrader: (0)
Default Re: Question about Paypal Business Upgrade

I don't mean to "hijack" the thread, I think this is relevant though - I'm trying to upgrade my PayPal to a business account. I put in the EIN for my LLC, all seems fine, but then it asks for the last 4 digits of my SSN along with my date of birth. Is this normal? It seems to defeat the purpose.. Thank you!
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
PayPal requests to upgrade to business account?? nostro PayPal Talk 9 11-28-2014 12:22 PM
Paypal Account Upgrade. Business or Premier?? temps425 Paypal Limited 16 04-11-2014 09:31 PM
Paypal Compliance Dept. wants me to upgrade to business account transamlt1man PayPal Talk 3 05-07-2013 04:18 PM
Paypal Documents - what to do? Upgrade to Business or Stay at Merchant? Greeko PayPal Talk 1 08-21-2012 04:50 PM
Paypal UpGrade to business, Choose which Category do I pick?? dannyboy11 Paypal Limited 6 03-08-2012 10:45 PM


Aspkin Group

All times are GMT -5. The time now is 12:51 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts