Setting up business for stealth

[Fullsend711]

I have permission to use my sibling's eBay and bank account for eBay. However, I would like to have the funds deposited directly into my business bank account instead. What steps should I take regarding the banking information? Should I register a (DBA) for my business? I also want to ensure that the tax liability falls on my business and not on my brother. Since I have an S Corporation, should I designate him as a non-paid director? I would appreciate any suggestions you may have.

[SaiJin]

You can use your own bank account.

Based on your questions, I highly recommend you read the stealth guide to really understand.

Welcome to the forum

[degsey69]

Welcome to the forum

You can use your own personal or business bank account

[Fullsend711]

Okay so I should use my business bank account and put the dba as my siblings name so it matches the account info correct? Just wanna make sure I don’t mess things up.

[rsot]

Welcome to the forum OP - all the best as you master stealth

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Keep it simple and use your own bank account - why are you playing with your sibling's info?

[Fullsend711]

I figured if I put in my name it’ll be an immediate red flag as the names don’t match.and if they ask for I’d verification they could directly link me to my old suspended account

[oethumb39]

But if you put all your brothers information incl his name on DBA will he not get all the tax burden?

[degsey69]

That’s the problem now a 1099 has to go against a person on sales over $600 which can create a tax liability to person whose ssn is used.

[rsot]

Originally Posted by oethumb39

But if you put all your brothers information incl his name on DBA will he not get all the tax burden?

not good to use family info unless they understand tax implications

[SaiJin]

Originally Posted by Fullsend711

Okay so I should use my business bank account and put the dba as my siblings name so it matches the account info correct? Just wanna make sure I don’t mess things up.

If you don't actually learn the basics from the stealth guide, I [promise you you WILL mess something up