Using a friend/family member Account... taxes the only reason?

[StealthJet99]

Are taxes the only reason it's not a good idea to use a friend or family members account? Because I was always thinking what if you opened a business together and just filed everything under he other persons name who has never even been on ebay before. Bad idea?

[pr0wake]

EDIT- its a bad idea if anything goes awry and affects that persons credit. its a selfish move

do NEW info that will not link you.

[StealthJet99]

I'm talking about if you go and open a business with a friend or family member and file everything under their name is that a bad idea?

I'm not trying to sell anything that will be Vero'ed or electronics I just want to sell low risk items (like sports cards and shipping supplies) so their name won't be dragged through the dirt.

[pr0wake]

if they are ok with it, sure. Just be sure to clean yourself from that account well, meaning have nothing tie you back and possibly killing their account

[StealthJet99]

Originally Posted by prowakeskater

if they are ok with it, sure. Just be sure to clean yourself from that account well, meaning have nothing tie you back and possibly killing their account

Oh yea there would be absolutely nothing to tie it back to me.

[GreenBean]

Originally Posted by TheRealDeal

I'm not trying to sell anything that will be Vero'ed or electronics I just want to sell low risk items (like sports cards and shipping supplies) so their name won't be dragged through the dirt.

If you are that worried, make your own account and avoid using their details.

All earnings would be taxable under their name.

Using it makes their life messy then.

Avoid that. Do your own thing.

Friends fail in business. Avoid the chance of that.

[pr0wake]

green bean is the man

[Sandy D]

Originally Posted by prowakeskater

green bean is the man

What?

Man......

[rsot]

Also - if that person's info gets banned on eB...he/she wont be able to do anything for the future....no one likes to have ID theft occur and be banned without their own knowledge

[StealthJet99]

I don't think you guys are quite understanding what I'm asking. No ID theft will be any where and I'm not using a child's info. What I'm asking is the only reason people advise against using other peoples info because of the taxes? If the person does everything legally (sells legal real products, reports income on their taxes, gets business licenses, etc) then is there anything wrong with selling with them and putting everything under their name with 0 links back to me.

[rsot]

It isn't ONLY because of taxes.

I will give you one scenario - if you sell with someone else's name and say, you make a busload of money....what's to stop that person from coming after you? There have been crazier stories....

[StealthJet99]

Originally Posted by rsot

It isn't ONLY because of taxes.

I will give you one scenario - if you sell with someone else's name and say, you make a busload of money....what's to stop that person from coming after you? There have been crazier stories....

I'm not selling with someone else's name. Here's the scenario I'm looking at. I join forces with my brother in law to start an ebay business. We file everything in his name and we share the profits. Technically it will be his business and I'll just be working for him but I'd be doing the majority of the stuff. He fully knows my situation and is aware of everything. So he couldn't come after me.

Also another question why is the Stealth Book so far behind? It says it gets updated often but one of the things it stresses to do is use another persons info and people have been saying not to do that for over a year on this site.

[GreenBean]

Sighs..................... you can make a business deal with your brother.

Go into it being aware of the perils of such a deal. Others have tried your methods and lost high earning viable accounts. For that reason, we prefer to suggest other options.

[aspkin]

To each their own.

There are pros and cons to every situation. Some people don't want to make up names but would rather go a different route. My job when writing the guide is not only to suggest the best solutions but to give all the options. I'll be sure to expand on this in more detail with the eBay Stealth refresh.

[BigMama]

Originally Posted by prowakeskater

green bean is the man

Greenbean is adorable

[Mitsu]

From what I understand (I'm not 100% positive, I've been told twice by paypal reps that this is the case so that should be taken with a grain of salt.), and something I'm trying out this year with my sister's account:

If you add an EIN on a paypal business account they will file the earnings from that paypal account to the IRS under the EIN and not the SSN, which becomes a means of verification purposes used only by paypal.

If this does work, you can open/add a business under your name and obtain an EIN and take care of all taxes yourself without having to involve the person's SSN you're using for PP. It makes logical sense for them to do this, since even some real businesses with multiple partners have to add a SSN to their paypal account for some features.

Obviously being completely solo and not getting others involved is ideal (unless they're a true partner), but when you have a family member/very good friend willing to let you use their info, why not take it and add a very strong account to your EB/PP collection?

[GreenBean]

Originally Posted by Mitsu

F
Obviously being completely solo and not getting others involved is ideal (unless they're a true partner), but when you have a family member/very good friend willing to let you use their info, why not take it and add a very strong account to your EB/PP collection?

Because these types of business agreements often break up badly.

There is a collapse of relationships AND that very strong account you are talking about is in limbo. Repercussions are horrible. People have lost so much money after trusting another party.

Been many reports of these types of failures.

[Sandy D]

Totally selfish in my opinion to use a family or friends information for your own gain.

What about the member who used his Dads SSN etc because the fool sold phakes dre beats and other items like it and lost his account. Only to burn his Fathers good name and SSN.

The Father then lost a ton of his retirement in the stock market crash of a couple years ago and tried to sell of his collection of items only to find out the rotten son ruined his name and his ebay account.

With or without permission no need to do this.

[unkown5454]

Originally Posted by TheRealDeal

I join forces with my brother in law to start an ebay business. We file everything in his name and we share the profits. Technically it will be his business and I'll just be working for him but I'd be doing the majority of the stuff.

Did this...ONCE...years ago when it was my best option because I was a n00b.

Used best friend's account (gives them all the power, not you). I was the brains of the entire operation and we split profit equally, even though they didn't do a godd@amn thing to build the business.

Went to visit family for a birthday vacation. Came back to town, found out partner ran into some money problems and dumped the entire PP account while I was gone. Never heard from them again and don't ever want to.

You don't think about this kind of crap all the time because you don't want to think people close to you don't give a flying f%ck about you and what you have done for them.

Make your own accounts. Control everything.

[GreenBean]

Originally Posted by TheRealDeal

I join forces with my brother in law to start an ebay business.
. So he couldn't come after me.

Your brother-in-law??????????????????????????

Forget that.

The sister will come after you ahould the marriage go sour.

Forget that.

[Kelly441]

Just a disaster waiting to happen. What happens if you run into some legal trouble? It won't be you that has to deal with it.

[Sandy D]

I can see people doing this and someone getting a 1099 and going what in the heck is this?