{"id":6528,"date":"2015-11-30T11:30:30","date_gmt":"2015-11-30T15:30:30","guid":{"rendered":"https:\/\/www.duck9.com\/?p=6528"},"modified":"2015-11-30T16:54:56","modified_gmt":"2015-11-30T20:54:56","slug":"managing-and-mismanagement-of-social-security-numbers-for-college-undergrad-entrepreneurs","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/managing-and-mismanagement-of-social-security-numbers-for-college-undergrad-entrepreneurs\/","title":{"rendered":"Mismanagement of Social Security Numbers By Undergrad and MBA Tech Founders"},"content":{"rendered":"
\n
\n
\n
\n
\n
\n
By Larry Chiang<\/div>\n
<\/div>\n
By now, the story of self funding our undergrad business should be common knowledge. We used high FICO scores to build Duck9.<\/div>\n
<\/div>\n
As an undergrad, think of your social security number as your future Delaware corporation “Tax ID Number”. Your social security number is your tax ID number. If you’ve read “Start a technology PROPRIETORSHIP in #ENGR145” then you get that a social security number is important. Your proprietorship files a “schedule C” on your personal tax filing.<\/div>\n
<\/div>\n
\n

Here are some important key points that are the foundation of you, money, tax, social security number management, and money.<\/p>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
11\/29\/15, 9:39 AM<\/span><\/a><\/div>\n
Social security number management is by far one of the least understood personal legal concepts to people under 25<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n<\/div>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
11\/29\/15, 9:38 AM<\/span><\/a><\/div>\n
Your own social security number is your first corporeal tax ID number. Later you s-corp\/c-Corp\/LLC your\u00a0#LCMCC<\/a>.<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nYour social security number needs to be seen as a “good tax ID number”. This is called a FICO score. A good tax ID number is a high credit card credit score.\u00a0<\/span><\/p>\n<\/div>\n

\u00a0<\/span><\/div>\n
The starting up of a credit score used to be a mystery. The start of building credit score from a complete standstill used to be an enigma. The start of your credit score I have subroutined out via five ‘signature credit score building recipes’<\/span><\/div>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
11\/12\/15, 7:20 AM<\/span><\/a><\/div>\n
\n

Social security number issues with Capital One\u00a0ficoforums.myfico.com\/t5\/Credit-Card\u2026<\/a><\/span><\/p>\n

#PObox30285<\/a>\u00a0= SAFE<\/p>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\nNetworking with executives via mail and sending your social security number is safe. The general population doesn’t agree. It’s a urban myth* that mailing your credit report is not safe.\u00a0<\/span><\/p>\n<\/div>\n

\u00a0<\/span><\/div>\n
\"image1.JPG\"
\n<\/span><\/div>\n
“Getting mailed a credit report is safe. Now, take a cookie.”<\/span><\/div>\n
— Larry Chiang<\/span><\/div>\n
<\/div>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
10\/23\/15, 3:45 PM<\/span><\/a><\/div>\n
Hack a bank for its 4,000,000 social security numbers = crime.
\nSteal one social security number out of a post office box = 3 year felony.<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
11\/30\/12, 11:45 AM<\/span><\/a><\/div>\n
“Credit history is only established when a college student is building credit in their own social security number without a cosigner.”<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n<\/div>\n\n\n\n\n
\"\"<\/span><\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
3\/2\/12, 9:09 AM<\/span><\/a><\/div>\n
when u pay to be promoted\u00a0@golden1cu<\/a>\u00a0Don’t be\u00a0#douXi<\/a>\u00a0& only follow 19 of 2000 that follow u.\u00a0#douXi<\/a>\u00a0is chinese for Douchie. short for D-Bag<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n\n\n\n\n
\"\"<\/span><\/td>\nGolden 1 (@golden1cu<\/a>)<\/b><\/td>\n<\/tr>\n
\n
3\/2\/12, 9:41 AM<\/span><\/a><\/div>\n
@LarryChiang<\/a>\u00a0We certainly don’t want to offend, but we also don’t want to seem “big brother.” It can be a difficult balancing act.<\/span><\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

 <\/p>\n<\/div>\n\n\n\n\n
\"\"<\/td>\nLarry Chiang (@LarryChiang<\/a>)<\/b><\/td>\n<\/tr>\n
\n
3\/2\/12, 9:57 AM<\/a><\/div>\n
#tweetsSoSecret<\/a>?! @golden1cu<\/a> you have my credit report. my social security number. my 5 accounts. my 10:05pm ATM withdrawl at Gamekeepers.<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Here are a slew more signature business recipes<\/p>\n<\/div>\n

\n
\u00a0<\/span><\/div>\n
<\/embed><\/a><\/span><\/div>\n
\u00a0<\/span><\/div>\n
<\/embed><\/a><\/span><\/div>\n

\n<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

By Larry Chiang By now, the story of self funding our undergrad business should be common knowledge. We used high FICO scores to build Duck9. As an undergrad, think of your social security number as your future Delaware corporation “Tax ID Number”. Your social security number is your tax ID number. If you’ve read “Start […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-6528","post","type-post","status-publish","format-standard","hentry","category-business-school-level-knowledge-about-credit-scores"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=6528"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/6528\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=6528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=6528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=6528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}