| | |
09-09-2016
| Junior Member | | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | 0/0 limit changed to 500/$50,000
I've created stealth accounts before and none of them had any issues until recently I got one with the dreaded 0 item/0 dollar limit. I'd read through the forum and noticed a lot of people were saying to just call them and see what happens. Unfortunately, I can't do that because I have social anxiety and it comes with a pretty severe phone phobia. I don't talk to people I know so there's no way I could call up eBay. I'm also a bad liar and even if I got up the nerve to call them, I'd be stuttering through the whole phone call and would probably end up just hanging up on them. So, I just decided to toss that account and start over.
But the morning after, something made me go back and look at the "Request higher selling limit" page and that's when I noticed that you didn't have to call them. You could just answer some questions, which I did and then it said they would contact me within a few hours after they investigated my info. I figured I was toast after reading that. By the next morning, I still hadn't received an email from them but I logged in anyway and lo and behold, I had a 500 item/$50,000 limit. I was ready to throw that account away and then to see that?
Not sure what happened but I'm just gonna ride with it as long as possible. So, before you toss an account, you should at least try to see if you can get the limits raised.
| The Following User Says Thank You to htmodad For This Useful Post: | |
The complete step-by-step guide to get back to selling today!
| |
09-09-2016
| | Executive [VIP] | | Join Date: Aug 2008
Posts: 9,930
Thanks: 380
Thanked 2,659 Times in 1,966 Posts
Activity: 17% Longevity: 91% | | Re: 0/0 limit changed to 500/$50,000
Out of curiosity how could you answer the questions if it is a stealth account?
__________________ AGED SUPER HIGH LIMIT ACCOUNTS: 10,000/$1,000,000 and 25,000/$500,000 |
09-09-2016
| | Executive [VIP] | | Join Date: Sep 2011
Posts: 4,691
Thanks: 672
Thanked 1,096 Times in 824 Posts
Activity: 0% Longevity: 72% | | Re: 0/0 limit changed to 500/$50,000
sorry to hear about your social anxiety hun, that really cannot be a nice thing to have.
You should try force yourself to go outside more in public or it may get worse
But anyway its really good to hear you got a nice raise on your account, not everyone is so lucky that easy
Nurture it & Enjoy it
| The Following 2 Users Say Thank You to Bunneh For This Useful Post: | |
09-09-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by slokor Out of curiosity how could you answer the questions if it is a stealth account? | Because the questions were pretty easy. I have a made up business and the name, address and phone are the same info I created the ebay account with. So, I just repeated that info and added a EIN.
|
09-09-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by Bunneh sorry to hear about your social anxiety hun, that really cannot be a nice thing to have.
You should try force yourself to go outside more in public or it may get worse
But anyway its really good to hear you got a nice raise on your account, not everyone is so lucky that easy
Nurture it & Enjoy it | Thanks. Unfortunately, I'm kind of tethered to the house by more than my social anxiety. I also have 2 kids with Autism and I'm a single parent so it's just us at home. We're together 24/7 and they don't like being around people either. So, we pretty much just do grocery shopping and doctor appointments.
|
09-09-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by htmodad Because the questions were pretty easy. I have a made up business and the name, address and phone are the same info I created the ebay account with. So, I just repeated that info and added a EIN. | So it really is not a stealth account at all if you added an EIN.
This is not exactly easy for most people.
|
09-09-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by yankee So it really is not a stealth account at all if you added an EIN.
This is not exactly easy for most people. | Why not? There are people on here with dozens of EINs (or more). It's not hard to do.
|
09-09-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by htmodad Why not? There are people on here with dozens of EINs (or more). It's not hard to do. | I am one of those people......
Because registering an EIN in most states is several hundred dollars to a couple thousand dollars.
You will not find a single thread that states to add an EIN right away and absolutely never on a 0-0 account. Although it worked this time, it could have easily not worked and most likely will fail more than will work.
That is why.... Most people dont want to risk EINs and the expense that goes along with them on 0-0 account or any account that does not absolutely require it.
|
09-09-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by yankee I am one of those people......
Because registering an EIN in most states is several hundred dollars to a couple thousand dollars. | Several hundred dollars? I've never paid anything for an EIN.
Are you talking about forming a corporation?
|
09-09-2016
| Senior Member | | Join Date: Aug 2011
Posts: 1,069
Thanks: 135
Thanked 108 Times in 94 Posts
Activity: 0% Longevity: 73% | | Re: 0/0 limit changed to 500/$50,000
When you get a ein you are supposed to register that biz with the state . I have never done that but that is where the fees come into the deal.. I have tried to find out a few times if registering ein with state is a must .. My thoughts was i was going to open a biz got my ein then when the state wanted to charge me all these fees i gave up on my biz venture ..
| The Following User Says Thank You to bluegrass1 For This Useful Post: | |
09-09-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000
Oh, ok. I got my first EIN probably 12 years ago and I've gotten several since then and I've never had the state say anything. Of course, some of those didn't have completely accurate information. I did have a couple of legit businesses that I got DBAs for but that costs $50 here. I know if you're going the LLC route, there's more involved.
Now, if you want to be contacted, then you should get a reseller certificate. If the Dept of Revenue doesn't hear from you every few months, they will call you up. Not sure how other states are but they're pretty diligent here.
Last edited by htmodad; 09-09-2016 at 02:44 PM.
|
09-09-2016
| Senior Member | | Join Date: Aug 2011
Posts: 1,069
Thanks: 135
Thanked 108 Times in 94 Posts
Activity: 0% Longevity: 73% | | Re: 0/0 limit changed to 500/$50,000
WO i am pretty sure you need to make your ein llc its free too otherwise pp can see the name linked to it ."Someone correct me if i am wrong on this " When you make a llc you enter a biz name and thats what pp see's /// Also always want to give real info when making ein this part you dont fudge around with .. .
|
09-09-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000
Well, npt much of this makes any sense. You can only have ONE EIN in a DBA. All others must be in a company or some sort. It just is not possible to have more than one EIN without selecting a LLC, Corp, Trust, partnership etc...
Also, without registering with the state, how are you paying your taxes with the 1099s going to all these EINs never properly created?
| The Following User Says Thank You to yankee For This Useful Post: | |
09-11-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by yankee Well, npt much of this makes any sense. You can only have ONE EIN in a DBA. All others must be in a company or some sort. It just is not possible to have more than one EIN without selecting a LLC, Corp, Trust, partnership etc...
Also, without registering with the state, how are you paying your taxes with the 1099s going to all these EINs never properly created? | I'm not sure if you understood me because I never said I had more than one EIN per DBA. Also, it is possible to get more than one EIN without selecting any of things you mentioned. You can get your EINs as sole proprietorships. As far as I've seen, there's no limit on the number they will give you. You just make sure each one has unique information. That's what I use to set up most of my stealth accounts and I've never had any issues.
And everything I've said is concerning selling online (Amazon, Ebay) and the rule for receiving a 1099 is 200 items/$20,000. If you don't exceed the limit, you don't receive a 1099. If you did exceed it, the 1099 comes from whatever platform you were selling on, not the state. Of course, even if you make way less than that and never receive a 1099, by law you're still supposed to report it to the IRS but that's probably not something every stealth account holder is concerned about. Although I know some are.
ETA- I realized that it's possible that you're talking about state taxes, not federal. I live in a tax free state so that wouldn't apply to me.
Last edited by htmodad; 09-11-2016 at 05:50 AM.
|
09-11-2016
| Senior Member | | Join Date: Apr 2016
Posts: 290
Thanks: 62
Thanked 25 Times in 20 Posts
Activity: 0% Longevity: 46% | | Re: 0/0 limit changed to 500/$50,000
Nowhere on irs.gov when registering for a (free) EIN did it day registering with the state was necessary. Infact sole propriatorships and work from home were all options when selecting an ein.
I thought it said one EIN per person originally, but it was one EIN per person PER DAY
|
09-11-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by stressed08 Nowhere on irs.gov when registering for a (free) EIN did it day registering with the state was necessary. Infact sole propriatorships and work from home were all options when selecting an ein.
I thought it said one EIN per person originally, but it was one EIN per person PER DAY | Correct.
ONE EIN for sole proprietor in a lifetime. Just one.
and if you dont register with the state, how are you going to get checking accounts and pay your taxes? I mean, it is IMPOSSIBLE to open a business checking account without registering with a state once you use up your single lifetime Sole Proprietor(and I have no idea why you would want one. Most taxed entity and 100% liability)
You have to use you brain when dealing with this stuff. 1099K are no joke five years down the line if you did not file your taxes under them.
|
09-11-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by stressed08 I thought it said one EIN per person originally, but it was one EIN per person PER DAY | So, you could have 365 EINs a year. That's a lot of stealth accounts.
|
09-11-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by htmodad
And everything I've said is concerning selling online (Amazon, Ebay) and the rule for receiving a 1099 is 200 items/$20,000. If you don't exceed the limit, you don't receive a 1099. If you did exceed it, the 1099 comes from whatever platform you were selling on, not the state. Of course, even if you make way less than that and never receive a 1099, by law you're still supposed to report it to the IRS but that's probably not something every stealth account holder is concerned about. Although I know some are.
ETA- I realized that it's possible that you're talking about state taxes, not federal. I live in a tax free state so that wouldn't apply to me. | Why in the world would anyone add an EIN to an account that you dont plan on collecting any significant amount of money on? Rhetorical.
|
09-11-2016
| Junior Member
Threadstarter  
| | Join Date: Oct 2015
Posts: 9
Thanks: 2
Thanked 1 Time in 1 Post
Activity: 0% Longevity: 49% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by yankee Correct.
ONE EIN for sole proprietor in a lifetime. Just one. | Sorry, that's not correct. I have several. Heck, I've gotten 4 this year alone.
|
09-11-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by htmodad So, you could have 365 EINs a year. That's a lot of stealth accounts. | Technically you can have more. ONE TYPE per day. You can create a Trust and Corp in the same day as an example.
|
09-11-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 Quote:
Originally Posted by htmodad Sorry, that's not correct. I have several. Heck, I've gotten 4 this year alone. | ................So what is it? You only have one as stated about or you opened 4 this year alone.
No need to reply.
|
09-11-2016
| | Executive [VIP] | | Join Date: Nov 2013
Posts: 8,983
Thanks: 2,744
Thanked 3,109 Times in 2,282 Posts
Activity: 0% Longevity: 60% | | Re: 0/0 limit changed to 500/$50,000 |
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts HTML code is Off | | | |