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Old 09-04-2015
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Default Paypal Account Upgrading

Ok so here's the deal. I have an account in a friends name it's 100% legit verified has a social on it etc. I am worried about the tax issues with selling in their name I do not want to get them in trouble. I also don't want to ask them to go through the hassle of claiming the profits on their taxes. I was wondering if I made an LLC and put it all in my name if I upgraded the Paypal account if the profit and sales would no longer be associated with them.

If not my second question is if I plan to go over the 20k or close to it on my stealth account should I just go ahead and upgrade to business? I don't want to open 10 bank accounts and have 10 stealth paypals.
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Old 09-04-2015
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Default Re: Paypal Account Upgrading

You could just state yourself as a sole trader, hat should probably so the trick for some time, if you're getting close to 20k, I'm pretty sure that you'd need to deal with tax.
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