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Nesie

07-11-2020 10:07 PM

No Longer Have LLC to a stealth account

Hi, I want to use a business stealth account but I dissolved the LLC to that account sometime last year. Would that notice that the LLC is no longer active?

cmckim

07-11-2020 11:15 PM

Re: No Longer Have LLC to a stealth account

No one will real check on that unless you are handling some fiances and legal stuffs. You can't report income on that LLC either. It is better just to open another one.

Nesie

07-11-2020 11:36 PM

Re: No Longer Have LLC to a stealth account

You're saying to just add another LLC to the account? Can't I just keep selling like normal and if they ever ask I quickly make another LLC and give them that new info

aenews

07-13-2020 03:02 AM

Re: No Longer Have LLC to a stealth account

Quote:

Originally Posted by Nesie (Post 1105341)

You're saying to just add another LLC to the account? Can't I just keep selling like normal and if they ever ask I quickly make another LLC and give them that new info

Though not recommended, you could just continue selling and avoid hitting 20K/200 Transactions. Then you'll avoid receiving a 1099K from PayPal. Though you are technically legally obligated to report all income.

newstart123

07-13-2020 05:55 AM

Re: No Longer Have LLC to a stealth account

no one really cares. I would suggest you do not use llc at all, you can use account as sole trador

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