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209box

11-20-2013 03:39 AM

Has anyone used DBA + EIN on paypal lately?

Experience?

joew8989

11-20-2013 09:10 AM

Re: Has anyone used DBA + EIN on paypal lately?

yes I do it all the time. Register the EIN with the secretary of state, form a corporation, and get an ein. That's how Ive opened new accounts for years

bobCrocker

11-20-2013 09:25 AM

Re: Has anyone used DBA + EIN on paypal lately?

I would but it's too expensive to get it. I just to own a business and it costed me 150 just to register my business name in Florida. It really depends where you live

209box

11-20-2013 06:06 PM

Re: Has anyone used DBA + EIN on paypal lately?

joe do you use the same EIN for all the new accounts you create? Are you using LLCs?

matt20

11-20-2013 09:00 PM

Re: Has anyone used DBA + EIN on paypal lately?

I've read that PayPal sometimes still asks for a SSN# too. How often does that happen? Do they usually just accept solely the EIN, even if you go over the 200/$20000 limit?

And do you add the EIN right away when you sign up, or wait until some other time?

joew8989

11-20-2013 10:46 PM

Re: Has anyone used DBA + EIN on paypal lately?

I use C corporations, and I use a different tax ID per paypal account. Its an accounting nightmare but my pay pal and ebay accounts (I think) are higher volume than I see here on the forum usually $20,000 a month. Itll cost me $200. for the corp DBA is $20. I file my taxes legitimately. Im afraid of the IRS , but not paypal

209box

11-20-2013 11:04 PM

Re: Has anyone used DBA + EIN on paypal lately?

Joe, you have been extremely helpful here, i appreciate the help. I feel the same way, but i have an accountant anyway so i might as well get my bucks worth.

Which site do you use to get a C corp? Do you get your EIN's at irs.gov? I thought i read somewhere you could only get one EIN. That was probably one per company or something.

mercurial333

11-21-2013 06:21 AM

Re: Has anyone used DBA + EIN on paypal lately?

Quote:

Originally Posted by joew8989 (Post 504955)

Lot's of tax ids doesn't bode well with the IRS, so I heard from a few accountants. Just a thought.

newjerseymax

11-24-2013 04:01 AM

Re: Has anyone used DBA + EIN on paypal lately?

Quote:

Originally Posted by mercurial333 (Post 505032)

Lot's of tax ids doesn't bode well with the IRS, so I heard from a few accountants. Just a thought.

As long as you pay taxes they don't care.

Who are these people? Lo.

mercurial333

11-26-2013 04:26 PM

Re: Has anyone used DBA + EIN on paypal lately?

Quote:

Originally Posted by newjerseymax (Post 505810)

As long as you pay taxes they don't care.

Who are these people? Lo.

Lots of people pay taxes, that doesn't mean they do it honestly. That's what audits are for.

Anyway that's what I've been told, you can do your own research on the subject.

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