eBay Suspended & PayPal Limited Forums - Having enough bank accounts

Gotcha!

Can I pay for the same account with the same VCC month after month? I'd be limited to selling about $1600/month (to avoid the 1099), so it'd be cheapest to load up a gift card for $500 and then just keep paying with that for one account.

Yes this is a good reliable way of paying - as long as there is enough amount on your VCC

GreenBean

10-06-2013 09:57 AM

Re: Having enough bank accounts

Quote:

Originally Posted by matt20 (Post 491829)

WHy are you thinking that limiting yourself to selling $1600 monthly will mean you will avoid the tax request?

That is not a given at all.

Sellers here have been asked for tax info when their selling total was $5000.

paypal ask on a determination of your projected sales.

Please be aware of this right from the start.

rsot	10-07-2013 12:28 PM

Re: Having enough bank accounts

matt20, spread sales over multiple stealth accounts - not hard to do

joesshooze

10-12-2013 07:16 PM

Re: Having enough bank accounts

OP as far as 50 or 100 accounts. I can't even imagine that. But if you need that many who's to say? My business plan which is evolving is to sell from 3 or 4 accounts and have an aged backup for each. That way if I loose one I am not wounded too badly. I am only buying the best available accounts from 123 now. That is the "cream of accounts" there. I don't have a family to take care so my wants & needs modest. Unfortunately my dentist is not though and he wishes me luck. LOL

Sandy D

10-12-2013 11:15 PM

Re: Having enough bank accounts

I have 100s of sellers accounts and manage them to run 20 or so a week.

Rotate them to keep building them for the long haul.

Issue is with new people is they cannot open many bank accounts while someone like myself I have had bank accounts, savings etc opened for many years at banks, credit unions etc and that helps a lot.

vogeltron

10-13-2013 02:32 AM

Re: Having enough bank accounts

Quote:

Originally Posted by Greenie (Post 492258)

It isn't just projected sales anymore. This year is also depends on how close you get to the 200 transactions from my experience. Like always things are changing at PayPal.

Start building as many accounts as you can. That is my advice. As much as it may suck and to an extent be suspicious to have lots of accounts at different banks. If you are keeping track of sales and paying your taxes as SandyD always alludes to. Really not much to worry about.

Having too many established selling accounts would be a problem I would love to have.

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