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  #1  
Old 04-15-2021
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Default How to do stealth now with Managed Payments???

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.
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  #2  
Old 04-15-2021
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Default Re: How to do stealth now with Managed Payments???

Multiple LLCs seem to be the only way short of ID theft. You can form your LLC's in a different state where the fees aren't so high. Where I am it's a one time $110 fee with no annual reporting or fees. It's not something I've done but there's info online about it.
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Default Re: How to do stealth now with Managed Payments???

At what point does ebay issue the 1099? is it still 20k +200 transaction?
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Old 04-15-2021
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Default Re: How to do stealth now with Managed Payments???

Which state provides the cheapest LLCs?
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Old 04-16-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by aspkin View Post
Which state provides the cheapest LLCs?
http://www.llcuniversity.com/llc-annual-fees-by-state/
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Default Re: How to do stealth now with Managed Payments???

Can you register LLC from out of state for ebay purpose tho?
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Old 04-16-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by haohigh View Post
Can you register LLC from out of state for ebay purpose tho?

Yes. Tons of eBay sellers already use out of state LLC's from places like Nevada and Delaware because they have favorable state tax laws.

Legalzoom makes it easy but it's probably something you could do yourself with a bit of research and legwork.
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Old 04-16-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by lymbo70 View Post
At what point does ebay issue the 1099? is it still 20k +200 transaction?
Come January 1st, 2021, it is $600 flat. No transaction number, just at $600
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by amysol View Post

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?
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.
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Old 04-16-2021
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Default Re: How to do stealth now with Managed Payments???

Why pay it if it's not necessary though?
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  #11  
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Default Re: How to do stealth now with Managed Payments???

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Originally Posted by phaz0rz View Post
Why pay it if it's not necessary though?
Are you offering up, or saying there is a way to obtain an LLC/EIN without paying? If not, I don't get the gist of your post.
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Old 04-17-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by yankee View Post
Come January 1st, 2021, it is $600 flat. No transaction number, just at $600
This is gonna cost the 3rd party processing companies a fortune to send out all those 1099's.

Plus, doing this will just incentivize people to cheat more on their taxes.

This is just going to overwhelm the IRS, making them more incompetent than they already are.
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by ebaystealth1974 View Post
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.
What do you do for LLC address? Local forwarding address in LLC state or real address?

Last edited by Mr. Invisible; 04-18-2021 at 01:57 AM.
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  #14  
Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by cherrqell View Post
This is gonna cost the 3rd party processing companies a fortune to send out all those 1099's.

Plus, doing this will just incentivize people to cheat more on their taxes.

This is just going to overwhelm the IRS, making them more incompetent than they already are.
third party processors have all our activities on computer and will just crank out 1099s ,if you dont want a hard copy mailed to you,so much better to save postage,if it costs too much,it would just raise our fee.
Why would people cheat more on taxes just because both them and IRS got a copy ?That extra $600 is not going to make dent on our taxes,as small business has so much to deduct and selling on EBAY is not exactly wildly profitable for most sellers.
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Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by amysol View Post
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.
can you cut down on the number of Ebay seller accounts?
It must be nice to have friends who would lend you their SSN and not complain getting a 1099K in their name?
If any of them ever get an audit,it could drag you into the scene!
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Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

have you considered using your own name,ssn,dob ?
ebay does not collect our SSN back then when Paypal takes care of that.
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Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

What a wild series of posts.
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  #18  
Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by ebaystealth1974 View Post
Are you offering up, or saying there is a way to obtain an LLC/EIN without paying? If not, I don't get the gist of your post.
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.
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by Mr. Invisible View Post
What do you do for LLC address? Local forwarding address in LLC state or real address?
If you get an LLC out of state you're required in most cases to have a local forwarding agent. If you open an LLC online usually there are package deals that include this and more like virtual number, mail scanning and forwarding, etc.
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Old 04-18-2021
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Default Re: How to do stealth now with Managed Payments???

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
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by aspkin View Post
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.
I changed 1 of my personal stealth to business as DBA but could only use SSN not EIN. To use EIN I would have to have LLC or Corp. This was last month
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Old 04-19-2021
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Default Re: How to do stealth now with Managed Payments???

Quote:
Originally Posted by yankee View Post
Come January 1st, 2021, it is $600 flat. No transaction number, just at $600
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.
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