Avoiding PAYPAL EIN?

[melvinp]

My question is that if i already reached 200 selling on my current stealth ebay and paypal could i just unlink the paypal that had all 200 transactions and input a fresh new one with no transactions to my ebay without no problems? I've been told i could but i just want to clarify things.

[rsot]

No you can't melvinp - that works against stealth principles. You might get away with it but it's a risk that's up to you. You NEVER know when that pp will go down

[masimo]

Better if you open a new stealth eb/paypal combo account.

[melvinp]

Originally Posted by rsot

No you can't melvinp - that works against stealth principles. You might get away with it but it's a risk that's up to you. You NEVER know when that pp will go down

So they could link back to my old paypal and i might get suspended from ebay?

[JamesNorth101]

You cannot just unlink a PayPal and add in a new one.

eBay and PayPal keep all the details of all accounts even after you have unlinked/removed details.

You will get links very fast.

[rsot]

Originally Posted by melvinp

So they could link back to my old paypal and i might get suspended from ebay?

Definitely - old link can EASILY be seen

[melvinp]

Originally Posted by JamesNorth101

You cannot just unlink a PayPal and add in a new one.

eBay and PayPal keep all the details of all accounts even after you have unlinked/removed details.

You will get links very fast.

okay i see. even though if i use a VPN on the new paypal? Also what should i do besides skrill and propay? Should i just leave the account for a year and it will reset the 200 and i could start selling again? Or should i just do the EIN? I'm no sure with the EIN though. If i apply for one would i need to pay taxes?

[MM78]

Originally Posted by melvinp

okay i see. even though if i use a VPN on the new paypal?

Doesn't matter.

Also what should i do besides skrill and propay? Should i just leave the account for a year and it will reset the 200 and i could start selling again?

Paypal will ask for an SSN or EIN at around 150 items sold or $20,000 has been reached.

If i apply for one would i need to pay taxes?

Consult a Tax Professional.

[JamesNorth101]

Originally Posted by melvinp

If i apply for one would i need to pay taxes?

You need to pay your taxes anyway.

Talk to an accountant.

[bjammin]

I have done that before. I had hit around 200 and PP would no longer process any more payments. People were messaging me wanting to know how are they suppose to pay. I created another PP account and added to the EB account. It was fine for a month or 2, but eventually EB came down and MC999'ed me, then they looked into my account further. Then I was indefinitely suspended from EB on that account. At that point I just tossed both PP and the EB account.

If the EB account is worth anything to you, then spend the $300 - $400 to get a EIN (get LLC, not sole proprietor or partnership). Then as long as you keep it under 20K, you will not have to worry about getting 1099'ed by IRS.

You only get reported to IRS if you hit 20k in transactions AND 200 items. You gotta meet both criteria. Please note that it is also 20k in transaction, not just sales. This includes moving money through PP from other PP.

Good Luck!

[melvinp]

Originally Posted by bjammin

I have done that before. I had hit around 200 and PP would no longer process any more payments. People were messaging me wanting to know how are they suppose to pay. I created another PP account and added to the EB account. It was fine for a month or 2, but eventually EB came down and MC999'ed me, then they looked into my account further. Then I was indefinitely suspended from EB on that account. At that point I just tossed both PP and the EB account.

If the EB account is worth anything to you, then spend the $300 - $400 to get a EIN (get LLC, not sole proprietor or partnership). Then as long as you keep it under 20K, you will not have to worry about getting 1099'ed by IRS.

You only get reported to IRS if you hit 20k in transactions AND 200 items. You gotta meet both criteria. Please note that it is also 20k in transaction, not just sales. This includes moving money through PP from other PP.

Good Luck!

Oh okay. So i'll only get a 1099 if i also reach 200 in sales but don't even reach 20k? Also can i just let that account sit for a year for it to reset the sales? Or will it still need me to require a EIN to verify?