Under 18 account?

[idds]

Would opening an account for an underage kid be an issue? It's my kid, close enough to 18 yo. Kid consents (heh, gets a cut), has bank acct and debit card.

I guess the objective is to keep the account safe for a bit more than a year.

Any concerns over this approach?

[JamesNorth101]

Sorry you mean you want to use your kids bank account for your stealth accounts?

Why not just use your own bank accounts?

[bonedaddy101]

I think he means make a ebay account in his kids name

[JamesNorth101]

You could well be right

Seems like a very bad idea to get your kids involves in stuff like that tbh

[rsot]

Originally Posted by JamesNorth101

Why not just use your own bank accounts?

Second that question.

[idds]

Yes, ebay account in kids name

Why exactly would it be a bad idea? Even the book mentions family members, etc. I understand there's a subtle different, but why would it be so substantively different?

[phaz0rz]

Using friends/family members info was fine before the IRS implemented the law requiring Paypal to issue 1099's for any user who passes 200 transactions and $20,000 in sales. The problem now is since you're required to provide a tax ID when you approach those thresholds, you would potentially be creating tax liabilities for your under aged son. It would be much safer for you to just drop $50 on a premade account from here.

Just my $.02.

[idds]

Originally Posted by phaz0rz

Using friends/family members info was fine before the IRS implemented the law requiring Paypal to issue 1099's for any user who passes 200 transactions and $20,000 in sales. The problem now is since you're required to provide a tax ID when you approach those thresholds, you would potentially be creating tax liabilities for your under aged son. It would be much safer for you to just drop $50 on a premade account from here.

Just my $.02.

It's that once the account is seasoned, I can have no concerns long term about viability.

In addition, I've schooled my kid well on multi-streams of income. He can take the account over at some point had have a solid selling history to move forward with, and an in-depth understanding of how to do it.

Until the age line is crossed I wouldn't do more than 10k anually with the account anyway.

[unkown5454]

riding a fine line messing with your kid for your own personal gain

sounds more like you are too lazy to learn stea/lth

[slokor]

I would NEVER involve my kids in my business. Nothing good can come out of it - especially when it is just as easy to just do things stealth.
Should anything happen to that account youre pretty much making sure your kid can never use his real info with ebay/paypal. Dont be surprised if that happens and your kid ends up resenting you.
NOT worth it.

[idds]

From a stealth perspective, the original question was if underage would be viable.

We've delved into ethical and moral implications, though your views are acknowledged, it wasn't the original question. I think moralizing on this topic, considering the purpose of the forum and some of the 'get creative' suggestions I've read here, is marginal at best. In the face of this ugly nemesis, you do what you need to do.

The fundamental gain, which is stated in the book, is a person you know is always best. In that line of thinking, I was inquiring about the potential implications that come with using this approach. If nobody wants to discuss it, we can kill the topic.

[bonedaddy101]

Originally Posted by idds

From a stealth perspective, the original question was if underage would be viable.

We've delved into ethical and moral implications, though your views are acknowledged, it wasn't the original question. I think moralizing on this topic, considering the purpose of the forum and some of the 'get creative' suggestions I've read here, is marginal at best. In the face of this ugly nemesis, you do what you need to do.

The fundamental gain, which is stated in the book, is a person you know is always best. In that line of thinking, I was inquiring about the potential implications that come with using this approach. If nobody wants to discuss it, we can kill the topic.

Well said

[jbmedia]

I wouldn't do it until he his 18.Id rather just create a corporation and use multiple DBA for each stealth.

[unkown5454]

Originally Posted by idds

From a stealth perspective, the original question was if underage would be viable.

We've delved into ethical and moral implications, though your views are acknowledged, it wasn't the original question. I think moralizing on this topic, considering the purpose of the forum and some of the 'get creative' suggestions I've read here, is marginal at best. In the face of this ugly nemesis, you do what you need to do.

The fundamental gain, which is stated in the book, is a person you know is always best. In that line of thinking, I was inquiring about the potential implications that come with using this approach. If nobody wants to discuss it, we can kill the topic.

As most n00bs do, sounds like you made your decision a long time ago and just made this post for your own comfort, hoping for a round of high-fives for being so "creative".

I feel sorry for your kid. I have no doubt you were real sly with your coaxing.

[ShawshankRedemption]

Originally Posted by phaz0rz

Using friends/family members info was fine before the IRS implemented the law requiring Paypal to issue 1099's for any user who passes 200 transactions and $20,000 in sales. The problem now is since you're required to provide a tax ID when you approach those thresholds, you would potentially be creating tax liabilities for your under aged son. It would be much safer for you to just drop $50 on a premade account from here.

Just my $.02.

So when I reach 200 transactions how do I give them a Tax ID when the account is in a stealth name and address? I have an old account with over 200 transactions in a year and with my real info, PP has never said anything. Or does the account have to go over 20K in a year too?

Tax ID is the same as an EIN right? I read you should get a Partnership EIN instead of an individual EIN because PayPal sees the name on the Individual EIN but not on a Partnership EIN? Am I correct?

[idds]

Originally Posted by unkown5454

As most n00bs do, sounds like you made your decision a long time ago and just made this post for your own comfort, hoping for a round of high-fives for being so "creative".

I feel sorry for your kid. I have no doubt you were real sly with your coaxing.

As a forum veteran, spending your social capital on impossible to prove assumptions is futile. I count 6 variables, so I question your understanding of probability/statistics.

I have not done anything yet. Just an exploration at this point.

[james13v]

Originally Posted by ShawshankRedemption

So when I reach 200 transactions how do I give them a Tax ID when the account is in a stealth name and address? I have an old account with over 200 transactions in a year and with my real info, PP has never said anything. Or does the account have to go over 20K in a year too?

Tax ID is the same as an EIN right? I read you should get a Partnership EIN instead of an individual EIN because PayPal sees the name on the Individual EIN but not on a Partnership EIN? Am I correct?

Is has to do both. 200 and $20k

[Hercules]

Originally Posted by idds

As a forum veteran, spending your social capital on impossible to prove assumptions is futile. I count 6 variables, so I question your understanding of probability/statistics.

I have not done anything yet. Just an exploration at this point.

So you want to use your child's info for an account that might get suspended in the future for any number of reasons?

You talk big with a suspected small simple mind.

Okay, my answer is: it would possibly screw your kid's Ebay future.

[idds]

Originally Posted by Hercules

So you want to use your child's info for an account that might get suspended in the future for any number of reasons?

You talk big with a suspected small simple mind.

Okay, my answer is: it would possibly screw your kid's Ebay future.

That hypothetical account may be suspended at any point in the future without any input from me for any number of reasons. Suspension is a known variable for any individual that opens an account, therefore moot.

As it pertains to the original query, the question is if opening an account before age 18 poses any substantive risk if managed as prescribed here. All these tangents are irrelevant.

[angelwill2010]

Originally Posted by unkown5454

As most n00bs do, sounds like you made your decision a long time ago and just made this post for your own comfort, hoping for a round of high-fives for being so "creative".



I feel sorry for your kid. I have no doubt you were real sly with your coaxing.

... I feel most posters feel sly sharing scammer/illegal ways around the 'problems' faced doing dodgey things all Stealth like too.

[angelwill2010]

On the SURFACE WEB of all places. Tsk.

[aspkin]

After a quick review of the thread again.. underage is no good.

If the person is 18+ and gives you permission, it's fine. Sure there are hurdles involved but it's technically possible. There are pros and cons to this method for sure; same as there are for pure stealth accounts.

OP, underage is not kosher. I would suggest another route.