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  #23  
Old 07-03-2011
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Quote:
Originally Posted by Vadim View Post
Legit is the way to go man. Its really easy to open everything up the right way, build up slow and be patient. The reward is months and months down the road when you have great account, great feedback and steady sales.
Then BOOM! Your limited for no reason. Some a-hole reported your listing for no good reason or something to that effect and ebay doesnt care cause you dont mean anything to them. Pipe dream man. So many legit sellers here did the right thing, followed all the rules and still got screwed over. If you think your invincible then you already made mistake #1
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  #24  
Old 07-03-2011
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From this message on the IRS EIN page:

Quote:
Due to a high volume of requests for EINs, the IRS will begin limiting the number of EINs assigned per day to a responsible party. Effective April 11, 2011, a responsible party will be limited to five (5) EINs in one business day. This limit is in effect whether you apply online, by phone, fax or mail.
And this IRS definition of a "responsible party:"

Quote:
All EIN applications (mail, fax, phone, electronic) must disclose the name and Taxpayer Identification Number (SSN, ITIN, or EIN) of the true principal officer, general partner, grantor, owner or trustor. This individual or entity, which the IRS will call the “responsible party.”
It looks like you can get 5 EIN's a day if you wanted.

I don't know if there are limits to how many EIN's a Sole Proprietorship can have. I did find on the IRS website that you don't need a new EIN for every business you own as a sole proprietorship, but it didn't say if you can't get one. This was also on the IRS webpage about LLC's:

Quote:
An LLC owned by one individual is automatically treated as a sole proprietorship for federal income tax purposes (referred to as an entity to be disregarded as separate from its owner).
Note: All I know about small business tax law is what I've read on the IRS website the past few days. Don't hold any of this info as infallible!
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  #25  
Old 07-03-2011
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Default Ss# ein

I've read and read both forums and stealth guide.
Other than using family/friends SS#'s, I don't see how one could have multiple accounts if going the EIN way. I don't want to tamper with other's SS#'s.

Bottom line..How can I have mulitiple ebay/paypal accounts and be able to back them up when asked for EIN#'s?

Thanks to ALL
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  #26  
Old 07-03-2011
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Quote:
Originally Posted by rambling View Post
I've read and read both forums and stealth guide.
Other than using family/friends SS#'s, I don't see how one could have multiple accounts if going the EIN way. I don't want to tamper with other's SS#'s.

Bottom line..How can I have mulitiple ebay/paypal accounts and be able to back them up when asked for EIN#'s?

Thanks to ALL
You cant. These guys are using EIN's as an easy way to get by. They have no idea of what all is involved with getting one and using it correctly.

Getting on is very easy but I can assure you that you will be reporting taxes from that day on. Regardless of the paypal 20k issue.

dont play around with the EIN's as some of yoiu seem to think you can do. Its not for games. once you get an ein you are a business and have to act like one.

Be prepared folks
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  #27  
Old 07-10-2011
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thanks! Very helpful!
What do you suggest?
I have 3 established stealth accounts, One account has my
daughter's SS# attached to Paypal. (after they requested SS#)
I have 2 other accounts..I can't give them my SS# because it will link to suspended account.
Secondly, I STILL am not sure how to continue opening other accounts...
Thanks again for whatever you can offer.
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  #28  
Old 07-10-2011
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Quote:
Originally Posted by rambling View Post
thanks! Very helpful!
What do you suggest?
I have 3 established stealth accounts, One account has my
daughter's SS# attached to Paypal. (after they requested SS#)
I have 2 other accounts..I can't give them my SS# because it will link to suspended account.
Secondly, I STILL am not sure how to continue opening other accounts...
Thanks again for whatever you can offer.
- Is this a full time venture of just on the side?

- I would dump the account with the daughters SSN for selling so you dont hit 20k on it. That will cause a mess you dont want to deal with. I would just buy with that account. There is just too much that can go wrong doing that with a kids number. You can do it with no problems but problems find you sometimes.

- did the 2 other accounts ask for ssn yet? if so decide how serious you want to make selling on ebay and if so get the EIN and post that. once you do, as said above you are a business and will have to treat it as one. The IRS will be.

- Opening more accounts is easy to do but depending on what you are using for information to paypal/ebay it will trigger the SSN request. Me personally have NEVER been asked for that info so look deeper into what and how you are using the information given to them. Is it too similar to what you have used before, etc?
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  #29  
Old 07-11-2011
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Angry

Why would you use your daughter's SSN? That's pretty irresponsible and illegal.
If you care at all about her, drop it immediately. What if she wants to be on Paypal one day. Or what if you screw up which is highly likely by the way you are doing things and she has a Paypal bill on her record when she goes to buy her first car or wants a student loan or a credit card to help get her through school.
You shouldn't even be on eBay if that's how you do things.

Sorry for the rant but this type of moronic action deserves it.
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  #30  
Old 07-12-2011
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Quote:
Originally Posted by planes View Post
Why would you use your daughter's SSN? That's pretty irresponsible and illegal.
If you care at all about her, drop it immediately. What if she wants to be on Paypal one day. Or what if you screw up which is highly likely by the way you are doing things and she has a Paypal bill on her record when she goes to buy her first car or
wants a student loan or a credit card to help
get her through school.
You shouldn't even be on eBay if that's how
you do things.

They did this because it says you can in the stealth guide

Sorry for the rant but this type of moronic action deserves it.
they did this becase it says you can in the stealth guide
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  #31  
Old 07-13-2011
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Just relax. You are getting off topic anyway. He is aware of its now and its up to him what he wants to do. Our opinion isnt his problem. Just going on and on isnt going anywhere.
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Last edited by SaiJin; 07-21-2011 at 12:12 AM.
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  #32  
Old 07-17-2011
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What KingRay said... It is NONE OF YOUR BUSINESS!!

If he/she wants to do that, it is perfectly fine.

Do us a favor and as said above, CALM DOWN, and KEEP OUT OF OTHER PEOPLES BUSINESS!!!

Last edited by SaiJin; 07-21-2011 at 12:12 AM.
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  #33  
Old 07-18-2011
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How is having an EIN unethical and illegal?
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  #34  
Old 07-18-2011
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Quote:
Originally Posted by unkown5454 View Post
How is having an EIN unethical and illegal?
Dont worry about it, They know Nothing about LLC's and EIN's or they would not have said that. They are just whining about the use of a childs SSN.

Not recommended but if you want to put food on the table you have to do what you have to do.

Try to avoid at all costs though.
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  #35  
Old 07-20-2011
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I'm sorry I prolonged the madness!
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  #36  
Old 07-20-2011
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Is it true that Paypal/Ebay will not report to IRS if sales are less than 20K? Or am I dreaming?
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  #37  
Old 07-20-2011
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Quote:
Originally Posted by rambling View Post
Is it true that Paypal/Ebay will not report to IRS if sales are less than 20K? Or am I dreaming?
It's true .

I had aprox. 60k sales this year, but under 200 transactions
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  #38  
Old 07-20-2011
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Originally Posted by rambling View Post
Is it true that Paypal/Ebay will not report to IRS if sales are less than 20K? Or am I dreaming?
You are required report it all. over 20k/200 transactions they are required to. The just sent the irs the same information as if you were getting interested on a bank account. Either way you have to report it.
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