| usa144 | 07-29-2017 01:47 PM | How to bypass the 20k limit on a stealth account So I'm asking this because I'm planning to start selling with a stealth account and I know that ebay will ask for verification after the 20K limit.
If I dont want to use my real SSN how can I bypass it? does any one has a suggestion? Even if you can not provide advice here and want to do it via pm you are welcome to :)
Thanks in advance |
james13v | 07-29-2017 01:51 PM | Re: How to bypass the 20k limit on a stealth account EIN or multiple accounts. That's it. |
usa144 | 07-29-2017 02:23 PM | Re: How to bypass the 20k limit on a stealth account Can I add the EIN at the in early stages of my account? |
Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by usa144
(Post 861891)
Can I add the EIN at the in early stages of my account? | Yes you can..... |
slokor | 07-29-2017 03:20 PM | Re: How to bypass the 20k limit on a stealth account You can but why would you want to? Dont add it until you absolutely have to it just in case something else happens to the account in which case if it was already added you pretty much 'burn' an EIN for nothing. |
xtyle | 07-29-2017 06:27 PM | Re: How to bypass the 20k limit on a stealth account I have the same question.
And I have a stealth account under a ⊗⊗⊗⊗ name that's nothing like my real name, can I still using an EIN for it?
I think people (including me) want to use the EIN early because what if you get to 200 sales and triggers the 1099, and if the EIN fails to apply, then we are screwed in terms of filing for tax at that point, aren't we. |
slokor | 07-29-2017 06:34 PM | Re: How to bypass the 20k limit on a stealth account Yes you can apply an EIN because youll be changing the type of the paypal account to a business account and associating it with the business name - which is what paypal will be associating the EIN number when they check and verify it.
And you dont have to wait till you get their notice. Just wait till youre comfortable with the account being on solid ground. |
empirestate | 07-29-2017 08:05 PM | Re: How to bypass the 20k limit on a stealth account |
usa144 | 07-29-2017 08:06 PM | Re: How to bypass the 20k limit on a stealth account thank you for the feedback, I feel more comfortable now. |
xtyle | 07-29-2017 09:35 PM | Re: How to bypass the 20k limit on a stealth account But 18k is not really much though and seems really easy to reach. Quote:
Originally Posted by empirestate
(Post 861959)
| |
xtyle | 07-29-2017 09:36 PM | Re: How to bypass the 20k limit on a stealth account When I do decide to upgrade to business, how should I go about it?
Should I upgrade eBay, and then Paypal? |
yankee | 07-29-2017 09:53 PM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by xtyle
(Post 861983)
When I do decide to upgrade to business, how should I go about it?
Should I upgrade eBay, and then Paypal? | when and only when paypal demands and tax limits the account, you click, "upgrade" and then enter your newly formed business name, EIN etc...
I would NEVER add an EIN until I absolutely am required to. Never. |
yankee | 07-29-2017 09:55 PM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by xtyle
(Post 861944)
I think people (including me) want to use the EIN early because what if you get to 200 sales and triggers the 1099, and if the EIN fails to apply, then we are screwed in terms of filing for tax at that point, aren't we. | screwed? How?
You are required by law to report all income no matter what.
Whoever receives the funds is legally responsible for taxes. If you withdraw to YOUR bank account, then you are responsible. If you withdraw to your business bank account, it is responsible |
empirestate | 07-29-2017 10:10 PM | Re: How to bypass the 20k limit on a stealth account |
xtyle | 07-29-2017 11:19 PM | Do you manage that many accounts on 1 computer via VPN or each account with dedicated up? I have 1 computer per account and I only have 2 so far.. Quote:
Originally Posted by empirestate
(Post 861988)
| |
empirestate | 07-29-2017 11:26 PM | Re: How to bypass the 20k limit on a stealth account |
james13v | 07-30-2017 08:50 AM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by empirestate
(Post 861996)
| I mean, not really, lol. Still a limited number of accounts possible. |
xtyle | 07-30-2017 09:18 AM | I know you can but I am so worried that I will login vpn and ebay account with another accounts password. Quote:
Originally Posted by james13v
(Post 862050)
I mean, not really, lol. Still a limited number of accounts possible. | |
yankee | 07-30-2017 09:30 AM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by xtyle
(Post 862056)
I know you can but I am so worried that I will login vpn and ebay account with another accounts password. | Then get organized. 30 accounts is not very hard to handle. It is not like you will be using 30 accounts all at the exact same time. Run 2, then when you get that perfected(in a day or two) add another and so on. |
vettefever17 | 07-31-2017 12:39 AM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by xtyle
(Post 862056)
I know you can but I am so worried that I will login vpn and ebay account with another accounts password. | Name the partitions names or numbers. I always cross check my vpn name to title name before logging in. I also always check my ip address before logging in EACH time. This is just a safety measure for vpn leak or drop out.
As for your limit on the tax information, remember, you'll quickly trigger it around 150-180 items far before the dollar amount. |
xtyle | 07-31-2017 12:46 AM | Re: How to bypass the 20k limit on a stealth account isn't it that you need to both meet item amount and dollar amount in order to trigger it? |
yankee | 07-31-2017 08:33 AM | Re: How to bypass the 20k limit on a stealth account Quote:
Originally Posted by xtyle
(Post 862215)
isn't it that you need to both meet item amount and dollar amount in order to trigger it? | yes. In all reality Paypal will tax limit the account much ahead of that. | All times are GMT -5. The time now is 02:42 AM. | |
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