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  #1  
Old 01-16-2018
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Default Is it (200 or 20k) or (200 and 20k)

Howdy folks. I started some stealth accounts to sell high volume items that wonít get close to 20k a year. I will however get close to 200 orders within 1.5 months.

Iíve read several conflicting comments that make me question whether I should have to worry about the next step verification. Can someone confirm whether itís 200 AND 20k or 200 OR 20k.

Cheers.
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Old 01-16-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

It is also HIGHLY dependent on PROJECTED SALES RATE...keep that in mind.
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Old 01-16-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

It's 200 Transactions AND $20,000 per YEAR.

This is not a limit, but rather the point at which PayPal will generate and send you the 1099-K

Even so, you are always responsible for paying tax (if any) on your earnings REGARDLESS of this limit. Consult a tax professional (CPA) if you have any questions about it.
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Old 01-16-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

Thanks for the fast and great replies. I will be paying taxes on all funds made. I just wanted to see if I needed to slow down my account sales.

On a side note: as someone new to this forum and the whole process I find this very addicting. I am in the process of making 2 more stealth accounts already.

Cheers and may 2018 bring you greatness.
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Old 01-17-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

Quote:
Originally Posted by cr0nis View Post
Thanks for the fast and great replies. I will be paying taxes on all funds made. I just wanted to see if I needed to slow down my account sales.

On a side note: as someone new to this forum and the whole process I find this very addicting. I am in the process of making 2 more stealth accounts already.

Cheers and may 2018 bring you greatness.
Just remeber, this is a business. If you are serious about making money, you need to work hard and do your homework. Read this forum, make more stealth accounts, read more, then repeat!

Best of luck as you master stealth!
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Old 01-19-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

I wanted to follow up here and put a small disclaimer for new folks. Just had PayPal ask for tax info. I looked at both accounts and see that I was on the verge of breaking 20k if I continued this pace (which I wouldn't).

My advice: DO THE MATH. Calculate total sales per week to avoid looking like you will hit the 20k mark. Looks like I'll LLC these accounts and just rotate future accounts for stealth to avoid this going forward. Lesson learned.
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Old 01-19-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

Once they ask, you're can't go back until it resets the next January.
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Old 01-20-2018
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Default Re: Is it (200 or 20k) or (200 and 20k)

YEah. So Iíll just LLC them since Iím not concerned about taxes and stuff. But I will monitor my other accounts and just rotate them carefully next time. I think i just stepped away for a few days and didnít expect both accounts to do well. Looks like I spent more time making better images for these accounts than my real account and that paid off.
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