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Urgently need help please
 

Hi guys and girls,

im so happy to be a part of this community; the knowledge and know how on this forum is really unmatched.

ive tried searching for the answer to my question but ive just come away more uncertain and i need some clarity and help.

ive been successfully operating a stealth paypal and ive recently got the email that im approaching the threshold of 200 items or 20k$ for tax purposes.

if someone would be so kind as to tell me how to keep this account in good standing i would really be forever grateful.

as far as i understand, i could open an llc and upgrade the account to a business account using that LLC’s information.

is that all i have to do or is it more complex?

i hope someone will take the time to help me get through this.

thank you in advance

Re: Urgently need help please
 

You need to stop selling, I would NOT upgrade, I tried that and paypal IMMEDIATELY asked for ID and proof of business, address etc. Just stop selling on that one and open another and slowly build it up.

Re: Urgently need help please
 

thanks for your input.

there has been cases of upgrading and doing so successfully hasnt there?

Re: Urgently need help please
 

Yes there has but you want to do so soon if your going to otherwise you can get caught in a loop if it’s your first warning you should be fine if it’s a solid account feedback etc then I would get an ein today from www.irs.com and upgrade the longer you wait the more it can cause problems

Re: Urgently need help please
 

thanks for your response.

i truly appreciate it.

i already had an ein w a previous company of mine, can i get a new one w a new company?

thanks

Re: Urgently need help please
 

just a follow up:

do i go to account and click upgrade to business account?

or do i just provide my ein as a social security number?

also when i click upgrade to business account, there are two options, the first being ‘keep current email’ and the second being ‘ register a new email address’
which would you advise?

thank you again

Re: Urgently need help please
 

just got an EIN would you mind helping me the rest of the way through?

can we talk via skype?

if so pm me please.

i really appreciate your help.

thank you

Re: Urgently need help please
 

I would recommend to just make a new account. Make multiple accounts and just don't pass that $20k+200 sales threshold per year.