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...
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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.
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AGED SUPER HIGH LIMIT ACCOUNTS: 10,000/$1,000,000 and 25,000/$500,000
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.
The Following User Says Thank You to vogeltron For This Useful Post:
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.
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?
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.
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The Following 2 Users Say Thank You to newjerseymax For This Useful Post:
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.
HOW could creating an ein for a stealth account be possible. dont you have to register in your own name to get an ein?
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Originally Posted by jaybsneaks
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?
The Following User Says Thank You to timetobarter For This Useful Post:
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.
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...
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...
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.
The Following User Says Thank You to vettefever17 For This Useful Post:
Can I sell over 20k on a stealth account? 
Re: Can I sell over 20k on a stealth account? 
Re: Can I sell over 20k on a stealth account? 
