Ebay Powerseller 800+ How to Fly Under the Radar?

 

Results 1 to 5 of 5
Im new to ebay/payapal stealth and ghost accounts hopefully you guys can give me some ...
  1. #1
    Sierra65 is offline Newbies
    Join Date
    Jun 2013
    Posts
    1
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Ebay Powerseller 800+ How to Fly Under the Radar?

    Im new to ebay/payapal stealth and ghost accounts hopefully you guys can give me some help. Im a powerseller on ebay with 750+ feedback and do $8-10k a month in sales. I buy cell phones locally for cheap and flip them on ebay so my net sales are high but only a small portion of that is actual profit. Ebay raised my selling limits with some hassle but ive never had any issues with account suspension. My problem is i dont report to the irs my sales at the end of the year what options do i have to fly under the radar because after 20k in sales paypal is required to report your earnings. Thanks for any advice in advance.


    Also where should i be keeping my money, in my paypal account or keep transferring it to my bank?




  2. #2
    MrE's Avatar
    MrE
    MrE is offline Executive VIP
    Join Date
    Sep 2008
    Posts
    577
    Thanks
    1,476
    Thanked 1,365 Times in 497 Posts

    Default Re: Ebay Powerseller 800+ How to Fly Under the Radar?

    Depending on your area you will only pay tax on your PROFIT, Net income - expenses = taxable income. Start reporting because you don't want them to come up with their own numbers for what you owe, it can be ugly and hard to fight after it's been accessed.

    Keep the cash in your bank account, not PayPal.... surprised that is even a question.
    TAKE WHAT YOU WANT.

  3. #3
    siputlajuselalu is offline Newbies
    Join Date
    Jun 2013
    Posts
    14
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Ebay Powerseller 800+ How to Fly Under the Radar?

    Quote Originally Posted by MrE View Post
    Depending on your area you will only pay tax on your PROFIT, Net income - expenses = taxable income. Start reporting because you don't want them to come up with their own numbers for what you owe, it can be ugly and hard to fight after it's been accessed.

    Keep the cash in your bank account, not PayPal.... surprised that is even a question.
    MrE, Can u explain more detail?

  4. #4
    notsostrong is offline Newbies
    Join Date
    Jan 2012
    Posts
    27
    Thanks
    1
    Thanked 4 Times in 4 Posts

    Default Re: Ebay Powerseller 800+ How to Fly Under the Radar?

    at the end of the year you will have to pay income tax on what you make (net), not what you sell (gross).

    ($10,000 monthly sales) - ($8000 monthly expenses) = $2000 net (you pay tax on this)

    set up an llc and go from there. if you don't keep track of your income/expenses the irs can pretty much say anything they want and even make you pay tax on your gross income.

    never keep money in your paypal account. take it out as soon as you can. i know people who have had their paypal accounts locked for 6+ months without any reason. they had $50,000+ locked up and were never compensated by paypal. one guy had to shut down his business.

  5. #5
    yupitsme's Avatar
    yupitsme is offline Newbies
    Join Date
    Jun 2013
    Posts
    21
    Thanks
    3
    Thanked 1 Time in 1 Post

    Default Re: Ebay Powerseller 800+ How to Fly Under the Radar?

    if i were you i'd go along with a new paypal every time..... or even a friends paypal mate. remember every paypal is 20K sooooo......... make like 2-3 friends and you got 40k-60k


Similar Threads

  1. eBay Powerseller
    By charmander916 in forum Introductions
    Replies: 1
    Last Post: 10-23-2012, 09:14 AM
  2. Ebay Powerseller
    By Rush2c in forum Ebay
    Replies: 0
    Last Post: 02-27-2012, 11:35 AM
  3. Need Ebay powerseller!
    By Velakan in forum Ebay
    Replies: 5
    Last Post: 08-05-2011, 06:31 AM
  4. Are you an Ebay Powerseller ??
    By jatin17 in forum BlackHat Lounge
    Replies: 4
    Last Post: 11-06-2010, 11:14 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  




BlackHatWorld on Twitter BlackHatWorld on FaceBook


1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109