Developing an LLC for Paypal - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > PayPal Talk

PayPal Talk PayPal Forums. General issues related to PayPal.

Reply
 
Thread Tools
  #1  
Old 02-14-2015
Subscribed [VIP]
 
Join Date: Jul 2011
Posts: 24
Thanks: 8
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 64%
iTrader: (1)
Default Developing an LLC for Paypal

So when I create an LLC to attach to Paypal, I obviously use my real name and info.

1)When it comes time to input the LLC information in to Paypal will they ask for the name listed under the LLC? If so do I input my stealth name or my real name?

2)Will my 1099k form have my stealth name on the title, or the LLC business name?

3)If I wait to hit my 200/$20,000 under my stealth name, then input my LLC information after the fact, will the 1099K be filed under my stealth name or the LLC name?

4)Tax purposes and deductions aside (for stealth purposes) is it better to open a DBA or LLC business to maintain a solid long lasting account? I would think LLC because your doing business under a new name, not "Doing Business As" you real name. Am I correct?

I have asked my accountant but he is not very knowledgeable about stealth accounts. It seems his main concern is having a name other then my own on my 1099K.
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 02-15-2015
Subscribed [VIP]
Threadstarter  
 
Join Date: Jul 2011
Posts: 24
Thanks: 8
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 64%
iTrader: (1)
Default Re: Developing an LLC for Paypal

Any input on this? Can someone at least tell me if my stealth name or my LLC name would show up on a 1099k?
Reply With Quote
  #3  
Old 02-15-2015
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 7,762
Thanks: 2,241
Thanked 2,577 Times in 1,893 Posts
Activity: 62%
Longevity: 46%
iTrader: (2)
Default Re: Developing an LLC for Paypal

I will reply to this in the AM.

LLC name comes on your 1099K to answer that question now.
Reply With Quote
The Following User Says Thank You to yankee For This Useful Post:
dugunz (02-16-2015)
  #4  
Old 02-16-2015
Senior Member
 
Join Date: Apr 2014
Posts: 148
Thanks: 9
Thanked 14 Times in 13 Posts
Activity: 0%
Longevity: 42%
iTrader: (0)
Default Re: Developing an LLC for Paypal

1. REAL
2. LLC
3. LLC
4. LLC BUSINESS

LLC should be under your name.
Reply With Quote
  #5  
Old 02-16-2015
GreenBean's Avatar
Executive [VIP]
 
Join Date: Sep 2007
Posts: 41,969
Thanks: 5,467
Thanked 8,998 Times in 7,022 Posts
Activity: 0%
Longevity: 95%
iTrader: (6)
Default Re: Developing an LLC for Paypal

Quote:
Originally Posted by zexaah View Post
1. REAL
2. LLC
3. LLC
4. LLC BUSINESS

LLC should be under your name.
Why are you talking such rubbish in nearly ALL of your posts.

Again, bad info from you.

So, you are telling us that a LLC should be made in the banned real name?

Are you?
__________________
Ever look at someone and think WhyTF has no one hit you with a shovel yet?
Reply With Quote
The Following User Says Thank You to GreenBean For This Useful Post:
dugunz (02-16-2015)
  #6  
Old 02-16-2015
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 58,240
Thanks: 4,616
Thanked 7,104 Times in 6,471 Posts
Activity: 100%
Longevity: 77%
iTrader: (7)
Default Re: Developing an LLC for Paypal

@dugunz, just FYI...paypal is known to limit accounts based on PROJECTED rate of 200/20k...not just actual value
Reply With Quote
The Following User Says Thank You to rsot For This Useful Post:
dugunz (02-16-2015)
  #7  
Old 02-16-2015
Senior Member
 
Join Date: Apr 2014
Posts: 148
Thanks: 9
Thanked 14 Times in 13 Posts
Activity: 0%
Longevity: 42%
iTrader: (0)
Default Re: Developing an LLC for Paypal

Quote:
Originally Posted by GreenBean View Post
Why are you talking such rubbish in nearly ALL of your posts.

Again, bad info from you.

So, you are telling us that a LLC should be made in the banned real name?

Are you?
i am saying that yes
Reply With Quote
  #8  
Old 02-16-2015
Senior Member
 
Join Date: Mar 2013
Posts: 2,047
Thanks: 106
Thanked 205 Times in 176 Posts
Activity: 0%
Longevity: 51%
iTrader: (1)
Default Re: Developing an LLC for Paypal

Quote:
Originally Posted by dugunz View Post
So when I create an LLC to attach to Paypal, I obviously use my real name and info.

1)When it comes time to input the LLC information in to Paypal will they ask for the name listed under the LLC? If so do I input my stealth name or my real name?

2)Will my 1099k form have my stealth name on the title, or the LLC business name?

3)If I wait to hit my 200/$20,000 under my stealth name, then input my LLC information after the fact, will the 1099K be filed under my stealth name or the LLC name?

4)Tax purposes and deductions aside (for stealth purposes) is it better to open a DBA or LLC business to maintain a solid long lasting account? I would think LLC because your doing business under a new name, not "Doing Business As" you real name. Am I correct?

I have asked my accountant but he is not very knowledgeable about stealth accounts. It seems his main concern is having a name other then my own on my 1099K.

Lol you think your accountant might be right!
Reply With Quote
  #9  
Old 02-16-2015
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 7,762
Thanks: 2,241
Thanked 2,577 Times in 1,893 Posts
Activity: 62%
Longevity: 46%
iTrader: (2)
Default Re: Developing an LLC for Paypal

Your accountants job is not to understand stealth. That is your end of things. Your accountants job is to make sure your tax liability is as small as legally possible and to make sure you are not commingling funds or putting yourself at risk. Sounds like your accountant is doing a good job.
1) If you wait until paypal requests tax info, as of recently anyways, you will update everything to your LLC info. You do not need any "user name or SS"
2) It will come as your Business name even if you changed it on the 30th of December
3)Business Name you entered.
4) Company such as LLC, Corp, partnership, etc.. or anything other than a sole proprietor(this can work but can also link directly to your real details)
Reply With Quote
The Following User Says Thank You to yankee For This Useful Post:
dugunz (02-16-2015)
  #10  
Old 02-16-2015
Subscribed [VIP]
Threadstarter  
 
Join Date: Jul 2011
Posts: 24
Thanks: 8
Thanked 0 Times in 0 Posts
Activity: 0%
Longevity: 64%
iTrader: (1)
Default Re: Developing an LLC for Paypal

Thank you all for the information, it is very helpful to clear this up for me.

Lol, and just for the record I may have worded that wrong with the accountant. I know he wouldn't know anything about stealth accounts, but I did bring up the possibility have having a different name other then my own on my 1099k to him and he said I should try to avoid that because he has never encountered that and he wouldn't be sure of how to handle it.
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Hello, I'm developing a listing software. ListersIn Sales & Marketing 26 05-06-2014 12:51 PM
Developing my Business!! Fizzy_Vimto Subscriber Discussions 1 09-18-2010 05:19 PM


Aspkin Group

All times are GMT -5. The time now is 02:50 PM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts