Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada! - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > International eBay & Paypal Discussions > Canada eBay Discussions

Canada eBay Discussions General discussions about eBay.ca Suspensions. This forum is mostly geared towards Canada eBay sellers.

Reply
 
Thread Tools
  #1  
Old 02-15-2016
Junior Member
 
Join Date: Feb 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 47%
iTrader: (0)
Default Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Hi all,
I've been using stealth successfully for 2 years now but im a little concerned about my bookkeeping and taxes. What do you guys do when it comes to tax time for those with many stealth accounts and many bank accounts.

Does the CRA find it fishy and investigate? Do they ask for your ebay id or paypal email info?

I feel like having stealth accounts might raise a red flag and have them want to look even deeper into the situation, thinking if im using different identities maybe i have other hidden accounts with unreported income ( totally not the case in my scenario) i just dont want to get in any trouble. Im reaching the 20k mark this year.

Thanks!
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 02-22-2016
Junior Member
Threadstarter  
 
Join Date: Feb 2016
Posts: 5
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 47%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

No one with any info on this?
Reply With Quote
  #3  
Old 02-22-2016
slokor's Avatar
Executive [VIP]
 
Join Date: Aug 2008
Posts: 9,930
Thanks: 380
Thanked 2,659 Times in 1,966 Posts
Activity: 10%
Longevity: 91%
iTrader: (90)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Perhaps talk to a professional?
I would go see an accountant and ask for their advice.
__________________
AGED SUPER HIGH LIMIT ACCOUNTS: 10,000/$1,000,000 and 25,000/$500,000
NEW LOWER PRICING!
ENTER MY STORE OR CONTACT ME
Reply With Quote
  #4  
Old 02-22-2016
JamesNorth101's Avatar
Executive [VIP]
 
Join Date: Apr 2013
Posts: 20,073
Thanks: 2,424
Thanked 5,197 Times in 3,996 Posts
Activity: 27%
Longevity: 63%
iTrader: (462)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Your going to want to talk to an accountant RE this
Reply With Quote
  #5  
Old 02-22-2016
Junior Member
 
Join Date: Jun 2015
Posts: 89
Thanks: 4
Thanked 9 Times in 9 Posts
Activity: 0%
Longevity: 51%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

this is my first time stealth account last year and sold over 20K.....I am also needs help reporting this through my tax filing....but I don't understand how I am going to explain this to my accountant? I am using stealth account with a different name? someone should come up with a guide for this and sell it.....idea !
Reply With Quote
The Following User Says Thank You to bclarr For This Useful Post:
Canadianleaf (10-29-2018)
  #6  
Old 02-22-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Quote:
Originally Posted by bclarr View Post
this is my first time stealth account last year and sold over 20K.....I am also needs help reporting this through my tax filing....but I don't understand how I am going to explain this to my accountant? I am using stealth account with a different name? someone should come up with a guide for this and sell it.....idea !
Government won't really frown upon stealth if you pay your taxes - you just tell your accountant straight that you did sales and wish to have help to report taxes.

A guide like this is touchy info in the wrong hands...
Reply With Quote
  #7  
Old 02-22-2016
Junior Member
 
Join Date: Jun 2015
Posts: 89
Thanks: 4
Thanked 9 Times in 9 Posts
Activity: 0%
Longevity: 51%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

thanks RSOT as always.....I will sit down with my accountant and try to find a way to report this......should be interesting.
Reply With Quote
  #8  
Old 02-22-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Hope you aren't being sarcastic...you don't need to tell him about stealth and such - you just need to say you did sales, you have invoices, statements, etc - I have dealt with accountants in the past and never stated about stealth details.
Reply With Quote
  #9  
Old 02-23-2016
Junior Member
 
Join Date: Jun 2015
Posts: 89
Thanks: 4
Thanked 9 Times in 9 Posts
Activity: 0%
Longevity: 51%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

ofcourse not....I will try to say the exact things u mentioned. thanks
Reply With Quote
  #10  
Old 02-23-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Ok bclarr - I'm pretty sure you'll be fine - just discuss your sales - dont need to get into stealth details.
Reply With Quote
  #11  
Old 02-29-2016
Junior Member
 
Join Date: Dec 2015
Posts: 13
Thanks: 1
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 48%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

I am not bookkeeper, but this is what I would do. I don't think CRA goes through paypal account so you can maybe tax it only when you withdraw to bank? Do you sell on ebay.ca? Did they send you T4?
Reply With Quote
  #12  
Old 08-28-2016
Junior Member
 
Join Date: Aug 2016
Posts: 1
Thanks: 0
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 44%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Hi everyone.
I am from canada....
Would I be able to use a stealth account from US or UK?
Please help me....

Last edited by TGMT²; 08-28-2016 at 07:00 AM.
Reply With Quote
  #13  
Old 08-28-2016
JamesNorth101's Avatar
Executive [VIP]
 
Join Date: Apr 2013
Posts: 20,073
Thanks: 2,424
Thanked 5,197 Times in 3,996 Posts
Activity: 27%
Longevity: 63%
iTrader: (462)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

You can do yes, you would need an IP from that country though and ideally also a bank account
Reply With Quote
The Following User Says Thank You to JamesNorth101 For This Useful Post:
rsot (09-05-2016)
  #14  
Old 09-05-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Quote:
Originally Posted by chobi1111 View Post
Hi everyone.
I am from canada....
Would I be able to use a stealth account from US or UK?
Please help me....
Welcome to the forums - James is correct....I do have accounts like that as well
Reply With Quote
  #15  
Old 10-12-2016
Senior Member
 
Join Date: Oct 2015
Posts: 78
Thanks: 3
Thanked 13 Times in 11 Posts
Activity: 0%
Longevity: 49%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Have you registered your business yet? I'm curious how you guys set things up especially if you are building separate brands too in different niches. Do you declare everything togethor or do you have a parent company that manages the other ones. i'm also curious about how you manage liability aswell. I want to be as fully covered as possible once i hit 20k, i'm already halfway there....
Reply With Quote
  #16  
Old 12-21-2016
Senior Member
 
Join Date: Dec 2016
Posts: 85
Thanks: 46
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 42%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

who said it is 20K ???? CRA in their website say it is 10K not 20K ...
Reply With Quote
  #17  
Old 12-22-2016
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 75,855
Thanks: 5,926
Thanked 8,909 Times in 8,202 Posts
Activity: 99%
Longevity: 83%
iTrader: (7)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

in CRA website or on pp?
Reply With Quote
  #18  
Old 01-12-2017
Senior Member
 
Join Date: Dec 2016
Posts: 85
Thanks: 46
Thanked 3 Times in 3 Posts
Activity: 0%
Longevity: 42%
iTrader: (0)
Default Re: Stealth Ebay and Paypal Tax and bookkeeping info (cra) canada!

Quote:
Originally Posted by rsot View Post
in CRA website or on pp?
CRA here .. CAD 10000 canadian dollars
Electronic Funds Transfer Reporting
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Stealth US Ebay & Paypal account use in Canada jenco eBay Suspensions 4 06-25-2014 07:12 PM
New Paypal/Ebay with business info in Canada? Holyman007 Canada eBay Discussions 4 06-06-2013 11:15 AM
eBay Seller Accounting/Bookkeeping - Outright? Quickbooks? nebuspp Subscriber Discussions 8 02-24-2012 02:44 PM
Outright Integrates Bookkeeping Service on eBay via SM Apps eBayNews eBay News 0 08-14-2009 07:20 AM


Aspkin Group

All times are GMT -5. The time now is 06:39 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58