Forum

Converting Personal Acc To LLC
 

How long is it recommended to age a personal account prior to converting it to a business (ein) account? The account is under real information, with the exception of a different address (old address that is in databases)
The SSN was already added at account creation, and the same ssn will be holding the EIN. Also, has anyone ever had a DL request while converting to business?

Re: Converting Personal Acc To LLC
 

Of every 10 accounts that are converted to a commercial account, approximately 4 to 5 will ask for a driver's license and other documents to verify the information provided.

Re: Converting Personal Acc To LLC
 

If your account is selling well with decent limits already I see no reason to swap to business.

But me I usually convert an account to business before it even sells anything

Re: Converting Personal Acc To LLC
 

It is better to change to business when creating the account, you can avoid many problems

Re: Converting Personal Acc To LLC
 

Is there any tax advantage in converting?

Re: Converting Personal Acc To LLC
 

I don't really see any advantages apart from some upper limits on ebay

Re: Converting Personal Acc To LLC
 

converting to business on ebay is not a problem at all as long as the account is established , there is no need to take additional action

if the account never sold anything I would not recommend to upgrade

Re: Converting Personal Acc To LLC
 

I agree based on having done so once before. However the always in the air question of what we consider "established"
I feel like when they start releasing funds from sale immediatley that is a good sign. But also them not allowing sellers to have a top rated status until 90 days points to 90 days before they consider a seller established.

Re: Converting Personal Acc To LLC
 

What does the process look like if a seller is hit with ID Request with all real information except, address that is in database but not on ID?