Just got this email.... Ebay Managed payments

[HurricaneHuntr]

Originally Posted by ebaystealth1974

No, we can't.

You're just being argumentative now for argument sake.

Tell me again how this stealth EIN works?

[yankee]

I love the fact most people will be dropping out of stealth with the new SS requirements and only transferring to banks. Next big step if Adyen/managed payments.

Looks like good sellers will have a cleaner marketplace fairly soon.

[Leader2dark]

Originally Posted by yankee

I love the fact most people will be dropping out of stealth with the new SS requirements and only transferring to banks. Next big step if Adyen/managed payments.

Looks like good sellers will have a cleaner marketplace fairly soon.

Just because you run stealth, does not mean you are a bad seller by any means. I am one of the best sellers around, with great prices and fast shipping.

[yankee]

Originally Posted by Leader2dark

Just because you run stealth, does not mean you are a bad seller by any means. I am one of the best sellers around, with great prices and fast shipping.

Who said all stealth sellers were bad?

[Leader2dark]

Originally Posted by Moscutter

I don't believe that. There is too much risk involved with accounts going down. Too much paper work and too much money in accountant fee's.

Pay quarterly sales tax for each of the 20 llc's.. what if one only does like 3-5k for the quarter?

Pay state taxes for unemployment etc..
Pay federal estimated taxes for the LLC, as well as payroll for each member of each LLC. Monthly....
File a quarterly report for each of the 20 companies.

You just increased your likelihood of an audit by 20x. You will need to keep separate quickbook files for each company, importing sales to that specific company each and every day, while requiring 20 business accounts. Additionally with each business account if you're not pulling in enough income, most business accounts have a Minimum to not get charged fees of 5k balance.

That's just that part. Now, pay the bookeeper(who now, knows your business) to keep track of it all, pay the accountant to do all the paperwork, and finally ship out your items each day.

I don't know about many people here, but i ship about 50-80 items if i am lucky in a day and that's currently with 40 accounts or so. Stealth's premise was to spread out your sales, that's what i do. I do have a few big hitter accounts which are where a lot of sales come from, while a lot of those 40+ haven't sold an item in a week.

I don't see myself making 40 multi-member llc's.

Quarterly reports for my 1 s corp cost me $125 a quarter now.... even at 20x125 that's over 2200+ in accountant fees QUARTERLY. Let alone a more complex situation which has multi members in the LLC.


I am negative by nature, but i just don't see the solution. But, perhaps we'll get a clearer picture. Sadly the scammers this doesn't affect, they just churn and burn stolen stuff.

Yeah, this basically sums up how I feel. Stealth, if you can even call using an EIN / Business / LLC stealth, will be pretty much dead for all but the hardcore large sellers.

The amount of work and money involved with setting up new accounts will have increased 100x or more. It simply is not worth it. Before, I bought a prepaid visa, track phone, and was pretty much ready to go. PO box maybe. All that was less than $100.

Now you huge costs, plus huge audit risks if you have a large number of EIN / LLC. It's game over. Simple as that. I am glad I have a day job.

Also the huge information costs. I don't know how to set up an LLC, EIN, maintain and do taxes on 20 business.

[HurricaneHuntr]

Originally Posted by Leader2dark

Yeah, this basically sums up how I feel. Stealth, if you can even call using an EIN / Business / LLC stealth, will be pretty much dead for all but the hardcore large sellers.

The amount of work and money involved with setting up new accounts will have increased 100x or more. It simply is not worth it. Before, I bought a prepaid visa, track phone, and was pretty much ready to go. PO box maybe. All that was less than $100.

Now you huge costs, plus huge audit risks if you have a large number of EIN / LLC. It's game over. Simple as that. I am glad I have a day job.

Also the huge information costs. I don't know how to set up an LLC, EIN, maintain and do taxes on 20 business.

I forgot payroll in that post, that's also a cost. You gotta pay yourself, so you must hire a payroll company to take care of it. Who exactly are all these members of the llc? You and your wife? You both starting 20 different llc's that all do the same thing? Does that not seem weird?

[HurricaneHuntr]

Originally Posted by yankee

Who said all stealth sellers were bad?

You insinuated that by your post, i took it that way too. But, if it's not what you meant.Then it's all good. Most people aren't dropping out of stealth. They are being forced to either do things illegally or forced to create a LLC for every one of their ebay accounts, and file paperwork for all of them. Sure, only the big time sellers may do this.

If "stealth" means making a LLC and hiding behind it..Then that's news to me. It's no longer stealth. Thus is..

Stealth is dead.

[slokor]

Are we realy doing this again? Starting off with all the paranoia without having any info on how things will be done?
OP you realy see ebay asking any person wanting to sell an item or two for their SSN and EIN? in other words you realy expect ebay to have any individual who wants to sell a used item or two to incorporate and register as a business? Do you even understand how absurd youre sounding?
Bottom line - we don't have enough info so for you to jump to the conclusion that 'stealth is dead' and thus 'these forums are now pointless' is absurd.
Take a chill pill and calm down. We will find out in time how this will work out and I assure you - when we have enough info a solution will be found as well.

On a sidenote -

Originally Posted by iamlmfao

Conclusion = usa is trash.

Youre such a little cockroach. Your stupidity realy does know no bounds.

[TGMT²]

Originally Posted by Moscutter

Our records indicate you have been previously invited to managed payments - eBay’s simplified seller experience to sell and get paid. Based on our review of your account, the features and tools you use on eBay are fully compatible with managed payments. To benefit from the new payments experience early, register at ebay.com/paymentsregistration. All eBay sellers will progressively be required to transition to managed payments in the coming months.

Lots of ways to interpret "coming months"

Probably 36 to 48 months which is 3 to 4 years as we previously suspected.

[phaz0rz]

Originally Posted by slokor

OP you realy see ebay asking any person wanting to sell an item or two for their SSN and EIN? in other words you realy expect ebay to have any individual who wants to sell a used item or two to incorporate and register as a business?

The average person wanting to sell items around the house would only need to provide their SSN and sell under their personal identity. That's already the norm for all the major (app) platforms that have come into existence in the last decade. It's only those who have already been kicked off who would need to take the EIN route. It's pretty clear at this point how it's going to be. This forum won't become irrelevant (there is an Amazon section, after all) but tons of sellers will be washed out.

[HurricaneHuntr]

I am not trying to cause panic, but based on what we know now, it doesn't look good.


I'll bail out with that said.

[sergfro]

I'll always welcome less competition =D

[nickopedia]

For individuals, providing SSN serves two purposes; for providing the Tax ID, and for confirming identity of the account holder.

Most all of the major marketplaces already have these requirements.

I'd be curious to see how non-USA residents transition to Managed Payments and what's required of them. I suspect eBay will want similar details to what PayPal already requires for specific countries.

[drebintech38]

Originally Posted by nickopedia

For individuals, providing SSN serves two purposes; for providing the Tax ID, and for confirming identity of the account holder.

Most all of the major marketplaces already have these requirements.

I'd be curious to see how non-USA residents transition to Managed Payments and what's required of them. I suspect eBay will want similar details to what PayPal already requires for specific countries.

Since there will be no more Paypal, would that mean previously suspended sellers could use their SSN to re-open a new account once Managed Payments is fully implemented?

[HurricaneHuntr]

Originally Posted by drebintech38

Since there will be no more Paypal, would that mean previously suspended sellers could use their SSN to re-open a new account once Managed Payments is fully implemented?

yes, but ebay does have your name in a file somewhere...

[drebintech38]

Originally Posted by Moscutter

yes, but ebay does have your name in a file somewhere...

What if you used all new info, except name? Surely there has to be more people with the same name.

[nickopedia]

It would be absolutely be possible to re-use your eBay that was previously linked to a suspended PayPal.

The caveat of course is the name on the eBay account must be a real person because they are going to ask for documents or verify at some point in time.

[drebintech38]

Originally Posted by nickopedia

It would be absolutely be possible to re-use your eBay that was previously linked to a suspended PayPal.

The caveat of course is the name on the eBay account must be a real person because they are going to ask for documents or verify at some point in time.

Thats what confuses me. The Paypal I had linked to my suspended account is still active last I checked. Im not sure what that means. Yes, I would use my own name and everything.

[james13v]

Funny thing is. I had my ebay and paypal suspended. Eventually, I made another ebay and paypal. They didn't mind. My suspended ebay account even got linked to the new one eventually ( it shows so in my ebay summary). I called in one time, to see if I can get it reinstated ( i know.. stupid...), but they said no. I'd need to provided invoices. FROM TEN YEARS AGO. Long story short, they said no, they didn't mind about my current account, and 4 years later, I managed to get them to reinstate even that one, with an instant 1.2mil limit. woot.

[drebintech38]

Originally Posted by james13v

Funny thing is. I had my ebay and paypal suspended. Eventually, I made another ebay and paypal. They didn't mind. My suspended ebay account even got linked to the new one eventually ( it shows so in my ebay summary). I called in one time, to see if I can get it reinstated ( i know.. stupid...), but they said no. I'd need to provided invoices. FROM TEN YEARS AGO. Long story short, they said no, they didn't mind about my current account, and 4 years later, I managed to get them to reinstate even that one, with an instant 1.2mil limit. woot.

Thats awesome! Right on!

So heres my deal. My ebay was suspended and my Paypal is still active. That Paypal has my real SSN.

Would it be possible to make a new Ebay account using all new info except my real name and SSN when Managed Payments becomes fully implemented??

[HurricaneHuntr]

Originally Posted by drebintech38

Thats awesome! Right on!

So heres my deal. My ebay was suspended and my Paypal is still active. That Paypal has my real SSN.

Would it be possible to make a new Ebay account using all new info except my real name and SSN when Managed Payments becomes fully implemented??

It's a never know basis. Last year i created a ebay with my business name say fartblossom llc.. i made the account fart blossom ... I got immediately suspended, even after using all legit data. I called in and the guy asks me database questions, for the account... since all the data address phone # etc were linked to me. the database questions were questions i already knew lol... and they gave me high limits and reinstated the account, now the account is still active and Top rated. With the ⊗⊗⊗⊗ name. Now when it's time for managed payments, i'll switch the information up to match my own. You may be able to have 2 accounts. 1 for your ssn and 1 for your EIN.. I have a household employer EIN for my houseworker aka nanny.So i could technically use that. Not sure how that works when it comes to IRS stuff though.

[ebayStlealth300]

Don't worry guys, stealth will never die. I have 25 accounts now. When they force it, I will be forced to think of way to make it work. And help you guys also make stealth managed payments accounts.