Withdraw method for No SSN PayPal. Just Buy Cash Off eBay?

turtlepillow · #1 02-20-2017

If I don't want to use a SSN to get a PayPal Business Debit Card to withdraw from an ATM. And I don't want to withdraw money into my bank account that has my SSN either. Would it just be smart to buy cash off of eBay if I don't care about paying a few extra bucks?

sax4 · #2 02-20-2017

Quote:

Originally Posted by turtlepillow

If I don't want to use a SSN to get a PayPal Business Debit Card to withdraw from an ATM. And I don't want to withdraw money into my bank account that has my SSN either. Would it just be smart to buy cash off of eBay if I don't care about paying a few extra bucks?

Buying cash on Ebay

That's a new one on me

JamesNorth101 · #3 02-20-2017

Is there a reason you cannot just withdraw to your bank account?
Your bank won't share you SSN with PayPal

**ilcarletto** · #4 02-20-2017

You can buy silver/gold but, as JamesNorth101 above saud, it is perfectly fine to use a bank account unless your business is really really shady... is it?

rsot · #5 02-20-2017

Quote:

Originally Posted by turtlepillow

Would it just be smart to buy cash off of eBay if I don't care about paying a few extra bucks?

I don't like losing money in general so, to me, it's not smart to lose money by buying cash...

turtlepillow · #6 02-21-2017

Quote:

Originally Posted by JamesNorth101

Is there a reason you cannot just withdraw to your bank account?
Your bank won't share you SSN with PayPal

If any money goes into your bank account you have to pay taxes on it right? I'm about to turn 18 and have no idea how to file taxes and it's just stressing me out if I got audited or something. Buying cash would mean I don't have to worry about taxes. This wouldn't be a permanent thing. Just until I figure everything out about paying taxes.

But if any amount of money goes into your bank account the IRS can see you're making money and they'll want to see how right? I'm just not too familiar with how this stuff works still being 17 years old.

Nyco · #7 02-21-2017

hahaha i use to do that and its very expensive.. what you want to do is REQUEST A CHECK.. of course that's another ball game.. one i can win every time lol but if you dont have a bank to deposit into. requesting a check is the only way. some times you can purchase gift cards from walmart.com (that still works, you just have to know what to do!)

& turtlepillow... the irs does not have time to check billions of bank account every day/week or month. & your age has nothing to do with it.. i talk to plenty of teens who are making a killing on Facebook, instagram, & ebay

JamesNorth101 · #8 02-21-2017

Quote:

Originally Posted by turtlepillow

If any money goes into your bank account you have to pay taxes on it right? I'm about to turn 18 and have no idea how to file taxes and it's just stressing me out if I got audited or something. Buying cash would mean I don't have to worry about taxes. This wouldn't be a permanent thing. Just until I figure everything out about paying taxes.

But if any amount of money goes into your bank account the IRS can see you're making money and they'll want to see how right? I'm just not too familiar with how this stuff works still being 17 years old.

Any sales you make legally you have to pay taxes on.

You really don't want to be starting off by trying to avoid taxes. Best thing to do is work out how your taxes would work (lots of online material and professionals you can seek the advise of) and then just use a bank account to withdraw to

turtlepillow · #9 02-21-2017

Quote:

Originally Posted by Nyco

hahaha i use to do that and its very expensive.. what you want to do is REQUEST A CHECK.. of course that's another ball game.. one i can win every time lol but if you dont have a bank to deposit into. requesting a check is the only way. some times you can purchase gift cards from walmart.com (that still works, you just have to know what to do!)

& turtlepillow... the irs does not have time to check billions of bank account every day/week or month. & your age has nothing to do with it.. i talk to plenty of teens who are making a killing on Facebook, instagram, & ebay

Yeah, honestly the buying cash thing sounds dumb and expensive but it's the only thing I can think to do hahaha. And yeah true about the IRS not being able to check every single person. Can you share the Walmart.com thing?

turtlepillow · #10 02-21-2017

Quote:

Originally Posted by JamesNorth101

Any sales you make legally you have to pay taxes on.

You really don't want to be starting off by trying to avoid taxes. Best thing to do is work out how your taxes would work (lots of online material and professionals you can seek the advise of) and then just use a bank account to withdraw to

Thanks for the advice man!