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Can I sell over 20k on a stealth account?
 

I was wondering if you have an established stealth account with high sales, would you be able to by pass the 20k limit regarding taxes on a stealth account?
Has anyone ever accomplished selling over that limit on a stealth account, is it even possible? These are good questions I think deserved to be answered... :noidea:

Re: Can I sell over 20k on a stealth account?
 

Sure, easy stuff.

Right away? No. But slow and steady it's fine.

Most people will work with multiple accounts to spread out sales in the beginning but over time you can increase your sales to higher limits.

Re: Can I sell over 20k on a stealth account?
 

How old do you think an account has to be to safely bring in over 20k? 6 months? 8? A year? I'm just asking because it's really interesting

Re: Can I sell over 20k on a stealth account?
 

Bring it to over 20k per what period of time? 20k per year? per month? big difference between the two.
As for the $20k limit imposed by paypal - to by pass it youll need to add an EIN to the account. No way around it if you wish to continue selling on that specific account past that point. And once you add the EIN youll need to start paying taxes on the proceeds from that account.
I myself prefer to spread my sales across multiple account and to never reach 20k per account so as to never have to deal with those pesky SSN?EIN requests. Another benefit is the fact youre not placing all your eggs in one basket so if one account goes down you still have all your other ones running.

Re: Can I sell over 20k on a stealth account?
 

20k in 5-6 months and true. I have 2 personal selling accounts and a stealth for back up.

Re: Can I sell over 20k on a stealth account?
 

As far as eBay goes you should be fine. With regards to PayPal or another Payment processor that will be an issue given you do not have the Tax ID info.

Re: Can I sell over 20k on a stealth account?
 

It all depends where your PP is based. US citizens are required to provide EIN/SSN, in UK I believe it is the same. For Canada it is not obligated to provide tax number aka SIN.

I assume you meant 20k per year as per PP's requirements then your only resolution here would be applying for an EIN and upgrading your account to a business.

Re: Can I sell over 20k on a stealth account?
 

Okay, no problem. As long as creating an EIN for a stealth account is safe I'll do it. Here's my Very LAST question now. Have any of you made or upgraded your stealth accounts to business and applied for an EIN? And if you have, what was it like and how was your experience doing this with your stealth accounts? :thumb:

Re: Can I sell over 20k on a stealth account?
 

By the way I sincerely thank all you guys for pitching in with advice and different perspectives, I honestly do appreciate this :)

Re: Can I sell over 20k on a stealth account?
 

All of us with large accounts have EINs. Must be several thousand threads about adding an EIN.

The sky is the limit. With a business account with an EIN can handle millions of dollars. It comes down to you as a seller and what you sell.

Re: Can I sell over 20k on a stealth account?
 

Okay awesome, that's all I needed to know. So in a few months I'm going to upgrade to a business account on PayPal and get a LLC :):bounce:

Re: Can I sell over 20k on a stealth account?
 

As long as you pay taxes and have all your documents in order you can sell millions of dollars. Expect more scrutiny at first, then later it gets easier as you prove yourself. I have had paypal accounting department call me directly to answer some questions.

Re: Can I sell over 20k on a stealth account?
 

What do you have going on. Ive read through your posts and seems like youre trying to a large amount of money in a short amount of time. Youre very vague and dance around the topic.

Re: Can I sell over 20k on a stealth account?
 

HOW could creating an ein for a stealth account be possible. dont you have to register in your own name to get an ein?

Re: Can I sell over 20k on a stealth account?
 

I was at 13 k in 4 months and going strong till my fees got overboard and i didnt realize it.

Re: Can I sell over 20k on a stealth account?
 

You use your real information but the only thing that has to match with PayPal is the "Business Name" down to a T.

Re: Can I sell over 20k on a stealth account?
 

Nope not at all buddy, I'm keeping my sales nice and slow. Really all I'm doing is just soaking up all the information I need for the inevitable future. Better safe than sorry...;)

Re: Can I sell over 20k on a stealth account?
 

Take it from my experience. Stick to 25 percent of account allowance per month. I've run wild and killed it recently, but it was at the cost of a perfect power selling account. The more you sit in the spotlight under the buy-it-now, the quicker the bots will take a look at you with a human review I assume.

On another note, I am taking your approach and cooling it down and spreading as advised by many of the forum members. Easy money always comes at risk.