SSN and payee name don't match?

I have two accounts, one personal and one business.

[proboscis]

Google says my payee name does not match my SSN.

I have a personal account with my correct name and a business account which does not match.

I called the IRS hotline and they said they do not have my business listed under my SSN but it's on my 2006 tax return and I've been in business for almost 10 years. Then they told me to call the Social Security Office and have them add my business name to my social security card. So I did and they said they have never heard of that and to call the IRS back.

I also have a business license that lists all the names that I am doing business as.

Google says I can change my payee name but not if I already have another account in that name and I do have another account in that name.

So what do I do!? Confused.

Does anyone else have both a business and a personal account, how do you associate your business name with your SSN?

[BigDave]

You need to get an EIN for your business. That is your business, and use that in place of your SSN for everything that has to do with your business. Even if you aren't hiring any employees, just about all books on the matter suggest getting an EIN for each individual business just to avoid hassles like this.

[MyNewPC]

You must have provided a Tax ID number to your bank for your business account. Is that your Social Security Number? If so, then it seems you should have only one AdSense account. If you have a separate Employer ID number for your business, then that is the number that should be associated with your AdSense business account.

[proboscis]

Okay, I do have a separate business bank account. I don't remember what tax id number I gave them. Could it be my UBI number?

Or does it always have to be an EIN?

thanks :)

[MyNewPC]

I don't have a business bank account, but I'm pretty sure you have to provide a Federal Tax ID number to open a business bank account. If you don't have one and you aren't planning to get one, then you really should have only one AdSense account. It's all being reported on your personal tax return anyway.

[proboscis]

I see now, in case anyone else wonders, you can get an EIN on the IRS website it takes only five minutes.

But now I'm wondering how this will effect my taxes, is anything different when you report using an EIN?

[ember]

I have a personal account and a business acccount. The first is under my SS# and the second under my FEIN. For taxes, all business income and expenses are reported under the busines name and the FEIN number and all personal stuff under my name and SS#. I file two returns; everything needs to be kept separate. Google should be paying you through two separate bank accounts, one personal and one business.

[DaveLite]

The only thing needed to open a business account at the bank I use is a DBA. The DBA says that I am doing business as a different name and after registering the name with the County Clerk, I'm ready to go. This business name is associated with my SSN.

Google Adsense message says that if my name and numbers don't match, they will be required to withhold taxes. I'm ok with them withholding taxes, so I could care less if the name and numbers don't match.

My two cents added to the bank.

[proboscis]

I file two returns; everything needs to be kept separate.

Do we have to do it that way? If we have business income coming in under both a personal and a business account?

[ember]

So Google is looking at your 2nd account that is under a business name and seeing that its SS# is already attached to another account, your personal name account? I don't know why you can't get an FEIN and submit it to Google for the business account. You wouldn't have to change the payee name. Going forward, I'd file taxes under the two separate numbers. Attach a Schedule C with the business FEIN to your 1040 which has your SS# on it. It just minimizes problems like the one you have now.

Davelite, you don't want Google withholding taxes. That's your money, but they will put it in an interest bearing account and earn money on it. You might get a refund, but Google's just earned money that you should have been earning.

[BigDave]

Ember, Google might be making a little money off that interest, but at most it is for one month after sending your check, and I bet the IRS has them on a bi-weekly deposit schedule. And since you would be required to pay quarterly estimated taxes, and fill out the paperwork that goes along with it, is it really worth the 6 weeks average interest you would get, at <1%, to file that form and write that check?

[ember]

BigDave, if it keeps the money out of the hands of the IRS, then yes.

[aleksl]

You need to get an EIN for your business.... just about all books on the matter suggest...

no you don't. it depends very much on a situation. a guy could be a single member LLC filing under his name, for all we know, and would never need an EIN. Just about all books on the matter have no clue in the details of his/her business, and would round everyone up and pass them to IRS on a plate.

EIN would at least be a good way to separate you and your business.

how this will effect my taxes, is anything different when you report using an EIN

depends on the type of your company

we have business income coming in under both a personal and a business account?

dude, not kool.
you are asking for trouble in case of an audit or a lawsuit.

[BigDave]

no you don't. it depends very much on a situation. a guy could be a single member LLC filing under his name, for all we know, and would never need an EIN. Just about all books on the matter have no clue in the details of his/her business, and would round everyone up and pass them to IRS on a plate.

Actually, given the problems that the original poster is having, an EIN *is* the solution. Quite simply, you don't need an EIN until you need one. Now (s)he needs one. I've run sole proprietorships using my SSN, in fact that is how I am handling my AdSense income right now. But if there is a reason to have separate personal and business adsesne accounts, then you should also have separate identifying numbers.

[LifeinAsia]

That's your money, but they will put it in an interest bearing account and earn money on it. You might get a refund, but Google's just earned money that you should have been earning.

Not entirely true- Google has to pay that money to the IRS. There is usually a short lag between when they pay you (and take out withholdings) and when they actually deposit that money into the IRS's account- probably just a few days. (The few days of interest that they would generate, especially at today's interest rates, are very small in the grand scheme of things.) So it's really the IRS that you are giving that 0% loan to.

[edited by: LifeinAsia at 7:08 pm (utc) on Mar. 10, 2008]

[proboscis]

we have business income coming in under both a personal and a business account?

dude, not kool.
you are asking for trouble in case of an audit or a lawsuit.

What? Then why does Google even offer the option of having both an individual and a business account?

[ember]

They offer the option of having both accounts beacaue they assume they will run separately, as TWO accounts, not two mixed under one number. One is for personal income; one is for business income. Each has a separate name and separate number and ideally a separate address. There should be no mingling.

[proboscis]

The only difference between the two accounts is the webistes that run the ads. One account is used for my main site and the other for my other sites.

They share most expenses, they are run from the same computers, same home office, they use the same internet connection, etc., few expenses are separate.

The only reason I applied for a business account in the first place was because my adsense income fell off by about 40% last year and I read somewhere that having separate accounts could help.

Is this asking for trouble or is it okay? Does anyone else do this?