How to do stealth now with Managed Payments???

[amysol]

Originally Posted by ebaystealth1974

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.

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)

[amysol]

Originally Posted by aspkin

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.

In Florida, a DBA is $50. I don't think you can get a EIN for a DBA if your personal SSN already has a EIN. PLEASE CORRECT ME IF I AM WRONG.

DBA's and EiNs would be a great alternative to LLC, however, I do not think ebay accepts DBAs, does anyone know more about this?

[amysol]

Originally Posted by beatingebay

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

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

[phaz0rz]

Originally Posted by amysol

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.

The new tax law hasn't taken effect yet. Until January of next year the reportable threshold is still $20,000 and 200 transactions. We'll see how it plays out in January.

[phaz0rz]

Originally Posted by amysol

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

It does. If you register as an LLC you give EIN and the SSN of at least one member of the LLC. eBay's not tolerating faceless shell companies like Paypal does. They are however allowing people to register multiple LLC accounts. Not ideal, but workable.

[mjgo]

Originally Posted by amysol

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

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

[amysol]

From what I am seeing, New Mexico and Arizona cost only $50 for an LLC plus not only o not have an annual fee, but they also take the extra chore away of having to even file a annual report.

So far, this makes an LLC only a one time $50 in those states.

Next thing to look into will be a mailing address in those states.

[amysol]

Originally Posted by mjgo

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

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.

[ebaystealth1974]

Originally Posted by amysol

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.

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. They're all different.

[ebaystealth1974]

Originally Posted by amysol

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)

I understand, but the same principle applies to all the accounts. It's a VERY small cost, per account, compared to income generated. Can't be scared to spend money.

If I can even just make 10-20k on an account per year, what is 250 bucks in comparison?

[mjgo]

Originally Posted by amysol

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.

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.

[amysol]

Originally Posted by ebaystealth1974

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. They're all different.

Good to know, thanks for the info

[amysol]

Originally Posted by mjgo

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.

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

[mjgo]

Originally Posted by amysol

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

Yes it ask me for last 4 SSN. My strategy is to try different things and see what sticks. I've been making a living on ebay since 2004 and I am paranoid about account suspensions

[phaz0rz]

Anybody registered a company with multiple members into MP yet? Or even better, has anyone registered a company where another company (different EIN) is the responsible party? I know there's a couple people here running business accounts like that.

That's the one scenario where I could see them maybe NOT asking for EIN + SSN but I'm pretty sure they want the info for at least one member even in those cases. No shadow corps allowed.

[Proud_Toes16]

Originally Posted by amysol

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.

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.

[purposeremo]

Originally Posted by mjgo

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.

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.

[purposeremo]

Originally Posted by Proud_Toes16

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.

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

[mjgo]

Originally Posted by purposeremo

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.

I have but it has been 3 months I don't know long term. I am hoping that it is ok long term

[glacier922]

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

Originally Posted by mjgo

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.

[mjgo]

Originally Posted by glacier922

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

I have 1 account with full SSN and the others last 4 SSN because by the time I signed up the other accounts ebay only asked for last 4

[Proud_Toes16]

Originally Posted by purposeremo

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

New name, address, bank account, email, phone number all under friends details. For new eBay account created on new IP address