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Old 02-09-2016
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Default Question about paypal and EIN

I will have more than one stealth account, each which will be business acounts. Two questions:

1) For each ebay account I create I will also need a new paypal account for it, correct?

2) Can i provide the same EIN # for each paypal account?
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Old 02-09-2016
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Default Re: Question about paypal and EIN

Quote:
Originally Posted by Retailer77 View Post
I will have more than one stealth account, each which will be business acounts. Two questions:

1) For each ebay account I create I will also need a new paypal account for it, correct?
Yes.....1 Ebay to 1 PayPal with MATCHING info.

Quote:
2) Can i provide the same EIN # for each paypal account?
Absolutely not. You can on the other hand create an LLC (I think) for each Account and get an EIN for the LLC....Hence you will have completely different EIN's for every account. I could possibly be wrong on some of this info but I'm sure someone else will come along that has done more than 1 EIN.
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Old 02-09-2016
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Default Re: Question about paypal and EIN

Quote:
Originally Posted by Retailer77 View Post
I will have more than one stealth account, each which will be business acounts. Two questions:

1) For each ebay account I create I will also need a new paypal account for it, correct?

2) Can i provide the same EIN # for each paypal account?
You need a different paypal account for each ebay and then you need a different EIN because you do not want to LINK yourself.
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Old 02-09-2016
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Default Re: Question about paypal and EIN

Yes MM78 your right.

What I've done is create a PARENT LLC that is not associated with ANY accounts that has my social connected, obviously. I then have subsidiary LLC's that are owned by my parent llc. So when you apply for the EIN and the LLC your entering your EIN of the Parent LLC not your social. Technically the social is connected to the subsidiary but Paypal will never know.

So if Paypal started digging into my account and looked into my LLC information they would only see the owner of the LLC being my Parent LLC, not me per say. It's a smart way to do things anyways if your filling for a SINGLE LLC, not Multi Member. Its another level of protection but in regards to stealth, its almost a necessity.

I'M NOT A TAX PROFESSIONAL. I could be making this all up, so its best to double check with one to be on the safe side...


And for record just because I have multiple LLC's owned by a Parent LLC PAYPAL won't find a link because my parent is NOT connected.

Last edited by solefoodbk; 02-09-2016 at 08:25 PM.
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Default Re: Question about paypal and EIN

i thought i read somewhere you were against stealth and using a friends info
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Default Re: Question about paypal and EIN

Quote:
Originally Posted by cmbhuy View Post
i thought i read somewhere you were against stealth and using a friends info
What does that have to do with anything previously said in this thread?
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Old 02-10-2016
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Default Re: Question about paypal and EIN

Quote:
Originally Posted by solefoodbk View Post
What does that have to do with anything previously said in this thread?
OP said he was a troll.

Just having his stories checked out, I imagine.




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Default Re: Question about paypal and EIN

Quote:
Originally Posted by solefoodbk View Post
Yes MM78 your right.

What I've done is create a PARENT LLC that is not associated with ANY accounts that has my social connected, obviously. I then have subsidiary LLC's that are owned by my parent llc. So when you apply for the EIN and the LLC your entering your EIN of the Parent LLC not your social. Technically the social is connected to the subsidiary but Paypal will never know.

So if Paypal started digging into my account and looked into my LLC information they would only see the owner of the LLC being my Parent LLC, not me per say. It's a smart way to do things anyways if your filling for a SINGLE LLC, not Multi Member. Its another level of protection but in regards to stealth, its almost a necessity.

I'M NOT A TAX PROFESSIONAL. I could be making this all up, so its best to double check with one to be on the safe side...


And for record just because I have multiple LLC's owned by a Parent LLC PAYPAL won't find a link because my parent is NOT connected.

Can you elaborate a bit more on your strategy??

Yes, I know your not a tax professional but id like to know more about how your doing your current set up. This is the first ive read about this idea on this forum. And I have been reading for months. Seems like you have a great strategy!!

Did you go through your state and create an LLC and then use the # to create the Sub LLC's/EIN's on IRS site? Thus making the Parent LLC the owner of all of them, and not yourself? I think that is the way i understand it...?
Do you put all your personal info on the SUB LLC's/EIN's? Or stealth info on these Subsidiary LLC's...? That is where I get lost.

Thank you for any additional info.

Last edited by Legendnvegas; 02-11-2016 at 12:52 PM.
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Default Re: Question about paypal and EIN

I made a mistake and opened a ein as sole proprietor.
Anyway I got a 1099k for that stealth account. The PP had a stealth version of my real name but was using my ein. Does it matter if name is not matching real name?
I will file tax under my real name SSN/EIN of course but did irs get a copy of my PP stealth name against my ein (filed as sole proprietor)
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Default Re: Question about paypal and EIN

Quote:
Originally Posted by Legendnvegas View Post
Can you elaborate a bit more on your strategy??

Yes, I know your not a tax professional but id like to know more about how your doing your current set up. This is the first ive read about this idea on this forum. And I have been reading for months. Seems like you have a great strategy!!

Did you go through your state and create an LLC and then use the # to create the Sub LLC's/EIN's on IRS site? Thus making the Parent LLC the owner of all of them, and not yourself? I think that is the way i understand it...?
Do you put all your personal info on the SUB LLC's/EIN's? Or stealth info on these Subsidiary LLC's...? That is where I get lost.

Thank you for any additional info.
Ok...

For starters remind yourself ANYTHING outside of eBay and paypal has to be legit info. Paypal and ebay will just ban us, but if you falsify ANY information outside of these platforms your 99% of the time committing identity theft, even if the person doesn't exist.

In regards to finding this info, that's because I didn't get this from the forum. I think it was from watching some tax professional video and reading some blogs. Anyways I did do it threw legalzoom. At first I wanted to do this all threw a tax professional but the reality is, its just me at the moment.

Unless you have employees, married, anything that relates to your business that doesn't include you, it's possible legalzoom isn't right for you.

When creating the PARENT LLC it will ask who is the owner or owner(s) of the LLC? You put your name. Will you go on IRS.GOV and get the EIN you but your SOCIAL.

Now when the LLC is created, its technically just a LLC. To make it a parent all you do is when making another LLC when they ask "who is the owner or onwer(s) you put the BUSINESS NAME. So now the LLC you just made is now the "owner" of this new llc.

It makes doing taxes A LOT easier too. My parent LLC is the one that pays for all my business expenses like shipping labels, poly mailers etc. If all my accounts are using the same supplies, which one pays the cost of my shipping supplies? All these things get complicated so having just ONE llc pay all your business expenses that are used on ALL your accounts makes life MUCH easier.

If you google "parent LLC" you will get alot of good info on it. Its not just good for stealth its GREAT if you ever went bankrupt, get sewed, basically ANYTHING that happens to ONE LLC doesn't affect the rest. So if someone went and sewed "apple llc" technically if you are a single member your connected to that LLC by law. If someone sewed you and you have the parent LLC as the owner, your out of the picture completely.

Obviously it can get alot more complex. All of this stuff is "generally speaking" because I have no idea what you sell, your business model etc.

Last note:

Easiest example is think of someone who owns a bunch of apartment complexes. They will have 1 main LLC that oversights all the buildings below it. ALOT of companies do this model, its very smart and separates YOU for ever getting in legal trouble, if you play your cards smartly that is.

Last edited by solefoodbk; 02-11-2016 at 11:46 PM.
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Old 02-20-2016
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Default Re: Question about paypal and EIN

When PP sends 1099k to irs does it give out your stealth name against the EIN?
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