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Check Cashing Question

Discussion in 'Business & Tax Advice' started by CiscoKid, Mar 9, 2009.

  1. CiscoKid

    CiscoKid Registered Member

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    I have a corp set up and have EIN - lets call that Company A.. Got shut down by a couple of CPA networks a few months back. So I went and rented a mail transfer service and applied under a different company name and got accepted - lets call that Company B. I used the same EIN as Company A..Playing by the rules and I have now received my first 2 checks for Company B

    I have not set up a DBA for company B. Can I just take the 2 checks I received, endorse them and deposit them in Company A's deposit account?

    I am not seeing why I could not. Also - if I can - why would I need to set up a dba for Company B?

    Thanks..
     
  2. innocent

    innocent Junior Member

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    I am surprised that the CPA network did not catch on to your "new" company with the same EIN...something for you to watch out for... To answer your question, you will likely want to endorse the checks as "For Deposit Only - Company B" so that the CPA network is none the wiser. However, I don't think that your bank will allow that deposit to go through but they might not question it. Given all of this uncertainty, I think the answer to your last question is "You don't want the shit to get screwed up!!" Just do the right thing, set up a DBA, get a new EIN (for the next time you get canned) and then you won't have to worry about a thing!
     
  3. CiscoKid

    CiscoKid Registered Member

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    Thanks.. Maybe because I am in the midwest, but my current bank does not require me to even endorse any of the CPA checks I get.. That is why I was thinking I could just probably run them through this account..