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How many stealth accounts? TAX?
 

Hello, I was wondering what happens if let's say you have 5 to 10 Stealth Ebay Accounts and you have around $15k to $18k sales on them (not hitting 20k mark).

Do you avoid paying taxes like this? how does it work? Also, all these accounts being sold by verified sellers are usually with different names and everything, how does it work?

Please let me know, thank you.

Re: How many stealth accounts? TAX?
 

do it with international accounts, and you're ok

Re: How many stealth accounts? TAX?
 

I've been thinking about the same thing.

Re: How many stealth accounts? TAX?
 

You have to pay tax on any income in the USA. If this money is being transferred to a bank account then it's being documented and if you're ever audited by the IRS they will want to know where it came from and why it wasn't reported.

Re: How many stealth accounts? TAX?
 

Agreed with above. Use common sense. If you receive $180k into your USA bank account(s) in 2018 and you don't file taxes at all because you didn't have any 1099k's sent out by Paypal, you're just begging to be audited by the IRS. If that were to happen it's likely the IRS demands you pay taxes on all $180k rather than just paying taxes on your profits because you didn't deduct any expenses on your taxes.

Stealth accounts aren't meant for tax evasion - just to get you back into ecommerce. Of course you're still legally obligated to pay taxes on your profits. It majorly sucks and I'm against it and hate it, but there's no getting around taxes.

Re: How many stealth accounts? TAX?
 

It happened to me one year because of a mistake on my taxes. They came after me a couple years later, but I was able to just do a 1040x and pay tax on profits.

Re: How many stealth accounts? TAX?
 

Do you hire a professional? It seems the more I research, the more questions I get.

Re: How many stealth accounts? TAX?
 

Just a run-of-the-mill tax preparer who charges like $200.

Re: How many stealth accounts? TAX?
 

Just keep track of your transactions on a spreadsheet through Excel and keep records of any expenses. You will need help filing your taxes the first time. My dad was a former accountant so he was able to help me my first time. After that, you should know enough to file on your own every year after that. It's not too complicated, though it does seem overwhelming initially.

Re: How many stealth accounts? TAX?
 

Regardless you still need to pay taxes on any income.

We stop before hitting the 20K just so that it doesn't trigger PP for asking for tax stuff. Not to avoid taxes all together.

Re: How many stealth accounts? TAX?
 

Of course we all pay our taxes ;)

Re: How many stealth accounts? TAX?
 

what can i declare as a expenses for example ? thanks

Re: How many stealth accounts? TAX?
 

- Inventory
- Shipping supplies
- Hired help
- Gas (mileage in USA)/business travel costs
- Storage/Warehousing

In USA you write off any money you spent on your business, thus coming up with your net profit. We even get to write off import taxes.

Re: How many stealth accounts? TAX?
 

So if you dropshipping, basically nothing can be your expense?

Re: How many stealth accounts? TAX?
 

All of the purchases you make to fulfill your dropship orders would be the expenses you deduct. In the case of dropshipping that would probably be the only thing you deduct since it's pretty much your only business expense.

Re: How many stealth accounts? TAX?
 

You can also consult with a CPA so you aren't missing a thing.

Gas usually counts for about 50% of its usage in taxes.

Re: How many stealth accounts? TAX?
 

Home business has been huge deduction for me.

Re: How many stealth accounts? TAX?
 

No no, I don't want to evade taxes, I'm just wondering how it's going to work out if someone has multiple accounts with different info, how are you suppose to calculate them and report them?

Re: How many stealth accounts? TAX?
 

Easy, you keep track.

Re: How many stealth accounts? TAX?
 

So if all the accounts are registered with different names and address, all that matters is where the money goes to? the bank account? it doesn't matter if they're all under ⊗⊗⊗⊗ names or random addresses? that's what I want to know.

Re: How many stealth accounts? TAX?
 

I was asking same questions and it seems to be like that, as long as you paying taxes they don't care. It's like cheating ebay and being fair with government.

Re: How many stealth accounts? TAX?
 

People make this more complicated than it needs to be and overthink how taxes are due.

If you make money, regardless of the name on the PayPal's, you pay tax.
Any money you collect that goes into your bank account is taxable.

Re: How many stealth accounts? TAX?
 

You can fill out your own 1099k with the aggregate totals from each month across all of your stealth accounts.

Sorry if I misunderstood your original question. That's how you would properly pay taxes while using stealth accounts. As long as the $ going into your bank account is accounted for you're good to go.

Re: How many stealth accounts? TAX?
 

Financial advice is a bit beyond scope of the forum in general

Re: How many stealth accounts? TAX?
 

Thanks for all the great advice guys, appreciate it!

Re: How many stealth accounts? TAX?
 

I have over 40 eBay stealth accounts and I never paid taxes in 4 years since havin them, nothing happened to me yet.

Re: How many stealth accounts? TAX?
 

Nothing happening yet doesn't mean IRS won't catch on. When they do catch on, they will dig up every single years of unfiled tax and that's when you're in real trouble.

You may think you don't make a lot of money each year, but the amount of undeclared income accumulates and balloons up to a pretty substantial amount over the years. If you're caught at this point, there's a good chance IRS will slap you with criminal tax evasion charges rather than just telling you to pay up.

If this is what you're wanting to risk, then keep playing with fire and hope for the best.

Re: How many stealth accounts? TAX?
 

I'd like to take a moment and let you know how brilliant you are for posting that on a public and probably monitored forum.

Dumb@ss... :rolleyes:

Re: How many stealth accounts? TAX?
 

:lol::lol::lol:

Re: How many stealth accounts? TAX?
 

May I ask who don't you want to pay tax that may be due for what you are selling? If you don't, your Uncle Sam might get angry, and you don't want that.

Seriously, this is not a good idea. Consult a Tax Professional asap.
:help:

Re: How many stealth accounts? TAX?
 

Re: How many stealth accounts? TAX?
 

What's the rush? They can just catch you in 10-20 years when everything is more automated, can save cash and charge you extra interest then lol.

Re: How many stealth accounts? TAX?
 

This is a good point. The tax authorities (IRS in the USA) have limited computing ressources now, but in 10-20 years things are likely to change drastically, especially with the Quantum age coming. By that time, the "tax man" can find and cross reference trillions of datapoints and find your income sources in seconds (near instantly) with oversight you can't possibly imagine. it will be pretty much entirely automated by then, think "superbots". Best to get your ducks in a row now, because last time I checked there was no statute of limitations when it comes to tax fraud.

Re: How many stealth accounts? TAX?
 

So when it comes to money, there's no statute of limitations, but when it comes to harming another person physically... they just throw it out of the window in like what? 7 years? lol

Re: How many stealth accounts? TAX?
 

If they ever audit me or something then I'll pay up.

Re: How many stealth accounts? TAX?
 

You know, nobody likes paying taxes. It's also a pain, sure, but it's also the law. Maybe you don't agree, but you should not really wait until the Treasury Dept. comes knocking. if you report now, you can detect all your product and expenses. Waiting for a tax bill to arrive or audit from the IRS would likely mean you would forfeit the right to those deductions, and pay tax on the full amount of your sales, in addition to penalties and interest.

An audit is no fun. You may find this experience not only unpleasant, but much more expensive than following the rules.

Re: How many stealth accounts? TAX?
 

The United States of America is a corporation owned by foreign interests. Bilking the nation for money has been goal #1 since the 1800's...

Sad but true

The Act of 1871: The “United States” Is a Corporation

Re: How many stealth accounts? TAX?
 

Don't forget to deduct phone, internet, electricity, laptops, software, if u drive to auctions u can deduct fuel, office rent, salaries, losses, bank fees, accountant fees, exchange rates, etc.

Re: How many stealth accounts? TAX?
 

This is disturbing to read...
I frankly don't know what to say about this.

Re: How many stealth accounts? TAX?
 

You enjoy paying substantially more fine than your tax, and sitting your ass behind bars?

Wise man!