Forum

Originally Posted by ebaystealth1974 (Post 1149534)

If $150 a year, after the initial $200, is going to hamper your profits, you might need to look into doing things a little differently. Or something different, altogether.

Originally Posted by aspkin (Post 1149884)

DBA + Free EIN on IRS website can be had in a few minutes.. but you only get one personal EIN last I checked.

It cost money opening LLCs and other corps and upkeep money, etc. LLCs can be expensive.

Originally Posted by beatingebay (Post 1149924)

I have been on chat with ebay for 2 hours, almost every department I have spoken to about MP and SS#. People there is simply no way around this. They will restrict your account later down the road. LLC is fine, But the reps all said you must verify your bank and SS#. No one is getting out of this! He said they are not allowing anything/ Ebay is in total control. There so many more sites. I closed my stealth account from 15 years ago. It been fun, but I see no answers

Originally Posted by amysol (Post 1150067)

I would assume this is correct as this is the national tax law. If I make, for example, 599 or less baby sitting, I don't need to claim it on my tax returns. However, $600 or over, I do. So I never understood how paypal got away with $20,000 in the first place.

Originally Posted by amysol (Post 1150070)

I've understood that an LLC will not require a ssn verification. Have you come across something that shows otherwise?

Originally Posted by amysol (Post 1150070)

I've understood that an LLC will not require a ssn verification. Have you come across something that shows otherwise?

Originally Posted by mjgo (Post 1150075)

I set one of my stealth accounts as DBA and can't use EIN only SSN. I set up 1 with LLC and used EIN and last 4 of my SSN. No way around the SSN part as of now

Originally Posted by amysol (Post 1150067)

I would assume this is correct as this is the national tax law. If I make, for example, 599 or less baby sitting, I don't need to claim it on my tax returns. However, $600 or over, I do. So I never understood how paypal got away with $20,000 in the first place.

Originally Posted by amysol (Post 1150068)

Its not a make or break cost, that's not what I am saying. But when you multiply that cost times, say, 5 or 6 accounts, it does add up. And as a smart business person, I want to save money where ever I can. It's the cumulative savings of all the ways I can save in my business that I look at each year. Not the individual sources of saving. (I've been doing this for 20 years)

Originally Posted by amysol (Post 1150108)

I have spoken with a managed payments ebay rep and they do not require any part of a SSN. This could be wrong, but I will surely find out for sure as I attempt to create a new stealth account.

Originally Posted by ebaystealth1974 (Post 1150114)

They are 2 very separate things, and are not blanket-termed "national tax law". There are nearly 20 different 1099 IRS forms, and the requirements vary for all of them.

From babysitting, you would receive a 1099-MISC, for which $600 is the threshold for the payer to file it. For PP (and all 3rd party payment providers), the form is a 1099-K, which of course has the 200/$20k threshold.

And for shiits and giggles, a 1099-INT, which you receive for the interest earned on your money, has a reporting threshold of $10. :lol: They're all different.

Originally Posted by mjgo (Post 1150122)

I have over 30 stealth accounts and have got the MP request on about half. I have converted 6 now to MP using different methods some personal some business DBA. Last night I did the LLC and I entered EIN and also last 4 of SSN would not let me enroll without it.

Originally Posted by amysol (Post 1150134)

How have you done it with an DBA? Still using a social?

Originally Posted by amysol (Post 1149411)

I have been selling on ebay for 20 years. My best account was just indefinitely suspended. Due to stealth, IMO you need a real person, name, ID and SSN.

I have run out of people to use for this. Also, even if I get a new friend to agree, it ****s up their taxes, because they get a 1099 from ebay, and they will need to 1099 that money to me. I would have to do their taxes for them etc etc.

What to do now?

Short of spending $200+ for a new LLC with an EIN for each ebay account, and $150 per year to sustain the LLC, has anyone figured out any other way?

Please HELP! Single mom here, I gotta keep the ebay sales alive.

Originally Posted by mjgo (Post 1150122)

I have over 30 stealth accounts and have got the MP request on about half. I have converted 6 now to MP using different methods some personal some business DBA. Last night I did the LLC and I entered EIN and also last 4 of SSN would not let me enroll without it.

Originally Posted by Proud_Toes16 (Post 1150216)

I am in a similar boat as you - using multiple friends details to create multiple eBay accounts. What is your experience with the 1099? Does it **** up their taxes? Or is it possible to be successful with a bit of time put in?
I haven't reached as far as them receiving a 1099 form as I haven't sold that much on the account yet. So I'm looking for advice and to hear you're experience with this process? I'm from the UK so I don't need to worry about SNN. I appreciate your advice and time.

Originally Posted by purposeremo (Post 1150222)

Have you done multiple accounts as non business under your last real ssn and dob? I'm wondering if it's okay for us to have multiple ebay accounts even with LLC and EIN's , with our real info.

Originally Posted by mjgo (Post 1150122)

I have over 30 stealth accounts and have got the MP request on about half. I have converted 6 now to MP using different methods some personal some business DBA. Last night I did the LLC and I entered EIN and also last 4 of SSN would not let me enroll without it.

Originally Posted by glacier922 (Post 1150256)

Last 4 of ssn, but you were able to enroll without the full ssn is that correct?

Originally Posted by purposeremo (Post 1150223)

If you don't need an equivalent to an SSN in UK why would you need friends details?