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Old 07-30-2013
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Default How close to the 20k 200 item limit? Way to tell?

Is there a way to tell how close you are to the 20k limit.. I feel like I am getting close with one account and would like to know ahead of time before it is too late. Thanks.

PS- Sorry if this has been answered but when I tried to search for it, all I am getting is people asking about there 500$ limits or paypal putting a limit on there account..
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Old 07-30-2013
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Keep track of all your sales on the account would be the way a number of people do it.

You should also be able to see total value of transactions in PP
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Old 07-30-2013
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What do you mean by 20k limit??
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Old 07-30-2013
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Quote:
Originally Posted by levi6482 View Post
What do you mean by 20k limit??
In the US at 20K PP needs more information. Doesn't apply in the UK. We have our own anti laundering limits to worry about
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Old 07-30-2013
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If you spread your sales out evenly throughout the year you can get up around 19k. Its all based your sales for the year and their projections when you will reach that threshold.

I had my account limited from closing and receiving payments last year in mid Dec. I want to say it was at like 18.5k or something like that.

Any way you work it, get multiple accounts going and spread out your sales evenly through out the year.

Lastly as always for the mods, I am not giving out advice on how to dodge taxes any income you earn you are suppose to report. I am just advising fellow members on how to best run their stealth accounts without interruption due to this requirement.
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Old 07-30-2013
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Yea this question has been brought up alot and there is no exact number or science on the matter . You basically want to create many accounts and spread your sales out.

Even if your on pace to go over the limit you can get hit with the ID. So if your in the first month of the year and do 50 sales for $3000, you would be on pace to go over the limit, assuming that's what your sales would be every month.

I like to stay between 10-15 items and 800-$1200 a month that way I feel nice and comfortable under the limit, and just keep making more accounts every month. Although on one account I have been selling alot this month but its funding all the other accounts with holds and allowing me to grow my business at a faster pace
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Old 07-30-2013
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Quote:
Originally Posted by levi6482 View Post
What do you mean by 20k limit??
Here is the thread that explains

http://www.aspkin.com/forums/paypal-...-usa-only.html


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Old 07-30-2013
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Quote:
Originally Posted by nivo View Post
Is there a way to tell how close you are to the 20k limit.. I feel like I am getting close with one account and would like to know ahead of time before it is too late. Thanks.

PS- Sorry if this has been answered but when I tried to search for it, all I am getting is people asking about there 500$ limits or paypal putting a limit on there account..
Sign into your PayPal account. Check your payments
Amounts are all there

Make your choices then
This is basic business sense.
  #9  
Old 07-30-2013
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Go to PayPal and click on Reports, then YTD Financial Summary, download .pdf Look for the gross receipts number.
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Old 07-30-2013
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I'm assuming you have no sort of accounting set up if you don't know....

Which is really bad.
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Old 07-30-2013
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Quote:
Originally Posted by vogeltron View Post
If you spread your sales out evenly throughout the year you can get up around 19k. Its all based your sales for the year and their projections when you will reach that threshold.
There are confirmed reports of paypal asking for tax ID at $5000 on accounts.

Avoid encourgaing users to go higher to cover yourself.

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Old 07-30-2013
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Quote:
Originally Posted by GreenBean™ View Post
There are confirmed reports of paypal asking for tax ID at $5000 on accounts.

Avoid encourgaing users to go higher to cover yourself.

Had a request this week on an account with $5400 ytd sales
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  #13  
Old 07-30-2013
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Quote:
Originally Posted by JJGold View Post
Had a request this week on an account with $5400 ytd sales
Duly noted.

Going to see more variable from now.

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Old 07-30-2013
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Quote:
Originally Posted by GreenBean™ View Post
There are confirmed reports of paypal asking for tax ID at $5000 on accounts.

Avoid encourgaing users to go higher to cover yourself.


I have kept a note on my wall when someone posted the amounts when they received the request.

This is the lowest post I have read and marked on my sheet.

195 items sold and 5,100.00 in total sales.

Remember that paypal is using the PROJECTED OR PREDICTED though that your account may hit those numbers based on your history. They will send you this if they feel you will hit these numbers soon or down the road to prepare themselves to report it to the IRS.
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Old 07-30-2013
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Quote:
Originally Posted by Sandy D View Post
I have kept a note on my wall when someone posted the amounts when they received the request.

This is the lowest post I have read and marked on my sheet.

195 items sold and 5,100.00 in total sales.

Remember that paypal is using the PROJECTED OR PREDICTED though that your account may hit those numbers based on your history. They will send you this if they feel you will hit these numbers soon or down the road to prepare themselves to report it to the IRS.
The initial request when you log in and it they request you add your Tax ID and say you can not close your account at this time is nothing but a heads up. If you spread your sales out evenly throughout the year you should be able to sell up around the 17-18k mark. Last year my PayPal in mid Dec got the hard limitation where I could no longer receive payments in December. I was closing in on 19k with about two weeks left in the year.
  #16  
Old 07-30-2013
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Dont split hairs here.

It has to be put out there that paypal has the chance to ask for tax info at much lower amounts....

Users need to know this.

They also need to know tax advice is not the forum's responsbility.
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  #17  
Old 07-31-2013
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Quote:
Originally Posted by nivo View Post
Is there a way to tell how close you are to the 20k limit..
Step-by-Step:

Sign into PayPal

Hover you mouse arrow over History and click Reports,

Click on Annual financial summary

Select 2013 (year-to-date)

Click Download report
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