10 Accounts $1200-1600 a month each. Help

[Dennis Brown]

I am trying to have 10 accounts and sell about $1200-1600 a month each account after 90 days probation. The problem is i will be selling high price items. 3-4 items a month at $300-$400 each account after my probation. Will my account get flagged because of the high priced items? My personal account has never been Banned. I just need more accounts to sell my items.Also, these items will be considered personal.

[rsot]

It could be flagged - difficult to say for sure.

Related? https://www.aspkin.com/forums/subscr...-possible.html

[Dennis Brown]

yes related. i am in the planning stage of my accounts. so i am just brainstorming.

[phaz0rz]

Totally possible, there would just be lots of legwork involved. If you're in USA you're going to need an EIN for each of your accounts, and then an LLC or corp to go with each one. Otherwise you'd never be able to properly age them for expensive items because you'd be tax limited during the aging process.

With that said, you could easily have each account at your target sales # within 6 months of it's first sale. And there wouldn't be any point in limiting them to such small sales #'s since (if they're aged properly and gingerly) they would be capable of selling 20x that amount each month.

[Dennis Brown]

thanks. I am in the process of getting my EIN and LLC in order. One part i am not understanding is if i start my LLC Named John Wayne and my name is Bill Simmon. Which one do i add to my paypal account? Also do i open a new LLC for each account, ten LLC? or One LLC with different names on the LLC to get different EINs.

Thanks in advance

[Steveo036940]

Originally Posted by Dennis Brown

thanks. I am in the process of getting my EIN and LLC in order. One part i am not understanding is if i start my LLC Named John Wayne and my name is Bill Simmon. Which one do i add to my paypal account? Also do i open a new LLC for each account, ten LLC? or One LLC with different names on the LLC to get different EINs.

Thanks in advance

You will need 10 EIN's, each with different addresses, names, phone numbers, etc. to avoid linking. The only way to accomplish this is to create multiple LLC's, S-corps, etc as the IRS only allows one EIN as a sole proprietorship. A good business start-up attorney will be able to guide you through this process and find the most cost effective way to achieve this. Prepare to spend thousands though as costs add up quickly (LLC filing, Registered agent(s), state costs, accounting, addresses, phones, Seperate IP's, bank accounts, etc.) Not sure only doing $1200-1600 a month in sales on each one justifies your initial expenses (only you know if your profit margins support this). Also, my advice is to try not to overdo it , as managed payments is coming, and your SS # must be added along with EIN's. This will eventually link every account making your effort useless down the road (unless new information and workarounds become available). Good luck and be sure to update your progress.

[phaz0rz]

Originally Posted by Dennis Brown

thanks. I am in the process of getting my EIN and LLC in order. One part i am not understanding is if i start my LLC Named John Wayne and my name is Bill Simmon. Which one do i add to my paypal account? Also do i open a new LLC for each account, ten LLC? or One LLC with different names on the LLC to get different EINs.

Thanks in advance

Just to add onto what steveo said, if you made an LLC called "American Supplies LLC" you would give Paypal the business name "American Supplies LLC".