im so happy to be a part of this community; the knowledge and know how on this forum is really unmatched.
ive tried searching for the answer to my question but ive just come away more uncertain and i need some clarity and help.
ive been successfully operating a stealth paypal and ive recently got the email that im approaching the threshold of 200 items or 20k$ for tax purposes.
if someone would be so kind as to tell me how to keep this account in good standing i would really be forever grateful.
as far as i understand, i could open an llc and upgrade the account to a business account using that LLC’s information.
is that all i have to do or is it more complex?
i hope someone will take the time to help me get through this.
thank you in advance
The complete step-by-step guide to get back to selling today!
You need to stop selling, I would NOT upgrade, I tried that and paypal IMMEDIATELY asked for ID and proof of business, address etc. Just stop selling on that one and open another and slowly build it up.
You need to stop selling, I would NOT upgrade, I tried that and paypal IMMEDIATELY asked for ID and proof of business, address etc. Just stop selling on that one and open another and slowly build it up.
thanks for your input.
there has been cases of upgrading and doing so successfully hasnt there?
Yes there has but you want to do so soon if your going to otherwise you can get caught in a loop if it’s your first warning you should be fine if it’s a solid account feedback etc then I would get an ein today from www.irs.com and upgrade the longer you wait the more it can cause problems
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Yes there has but you want to do so soon if your going to otherwise you can get caught in a loop if it’s your first warning you should be fine if it’s a solid account feedback etc then I would get an ein today from www.irs.com and upgrade the longer you wait the more it can cause problems
thanks for your response.
i truly appreciate it.
i already had an ein w a previous company of mine, can i get a new one w a new company?
Yes there has but you want to do so soon if your going to otherwise you can get caught in a loop if it’s your first warning you should be fine if it’s a solid account feedback etc then I would get an ein today from www.irs.com and upgrade the longer you wait the more it can cause problems
just a follow up:
do i go to account and click upgrade to business account?
or do i just provide my ein as a social security number?
also when i click upgrade to business account, there are two options, the first being ‘keep current email’ and the second being ‘ register a new email address’
which would you advise?
Yes there has but you want to do so soon if your going to otherwise you can get caught in a loop if it’s your first warning you should be fine if it’s a solid account feedback etc then I would get an ein today from www.irs.com and upgrade the longer you wait the more it can cause problems
just got an EIN would you mind helping me the rest of the way through?