Business accounts?

[kvilleification]

So normally I just walk into TD and ask for boxes of coin (cents, primarily), no problem. The last time the teller told me to "call it in" so that I don't have to wait. So this time I called them and asked if they could set aside 2 boxes for me, and that ill be there within the hour to pick them up. The person on the phone asked me if I had a business account, and I said no. She then explained to me that I needed a business account if I wanted to get boxes of coin from them. I told her that I come in all the time and get boxes no problem. She said that it was the tellers fault for giving them to me. She also told me I could get as much as I wanted IF I had a business account with them. Mind you I have a regular checking acct. with them. Apparently that's not enough.

I contacted my source inside TD, and was told that I need a "tax ID #" to start a business account with them. He also told me that the person that I talked to on the phone, I assume one of the managers, was totally right for requiring a business account. The problem is that I don't have a business, hence no tax ID #. The money for the minimum balance is no problem, just this stupid #.

So right now I'm stuck. Any suggestions?

I guess I need to start a business.

 

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[Piledriver]

Get ready for the next piece of good news.....

You will probably be charged business fees for the privilege.

Don't let it get you down...

Keep on Rollin' !

 

[Farchaus2k]

More than likely you will get charged fees, and it makes doing your taxes really tricky. Your best bet is to find another bank who will sell you boxes.

 

[That Canadian Guy]

Perhaps you could have a business through ebay selling copper cents.

 

[penman77]

Your social security number is your tax ID number if you have a business which isn't a corporation or LLC. If they need to know what kind of business it is then tell them it is a logistics business or something like that. This is not an obstacle.

 

[MIhunter]

You can get a tax id # from the IRS for free, go to their website www.irs.gov.
Make up a name of a business, "Joe Blow Enterprise"
You don't have to file any taxes unless Joe Blow makes money.
As long as your business account doesn't earn interest, you should be okay.

 

[quiksilver]

Dont play with the tax man , just use TD to dump and find other supply banks.

 

[Farchaus2k]

Dont play with the tax man , just use TD to dump and find other supply banks.

+1

Or at the very least speak with a tax attorney or CPA before you do anything like this.

 

[namster]

I get a kick out y'all who think a business account is a big deal. I have two, and I pay $21 in fees/month, I file my taxes, NO BIG DEAL. I find $500-$900 in silver/month. Some of you cant see the forest through all the trees lol.

 

[Memphis300c]

Keep the IRS out of it. Use your social security number and tell them you file taxes as a sole proprietorship on your personal taxes if they ask.