Switching my personal account to a business account
Looking to switch my personal account into a business one. I seen some of the steps online but once i get to personal information i don't see were its supposed to day account types and click business.
8 comments
redmodelt
·5 months agoUnless you have another account/store, because shows no current or in the post 90 days listings on this one, why would you want to switch to business account? With low sales and no store, wouldn't see the point esp if you only have one account and use it for personal purchases too. Once you move to business account, you can't move back.
kiddreamcollectibles
OP5 months agoI didn't sell anything yet i want everything setup properly and switching to a business account is for tax purposes.
redmodelt
·5 months agoPlenty of people sell on a personal account but you need to keep records which should be viewable whether you have business or not.
If you do want a business account, maybe open another account just for business related buying/selling.
gb58
·5 months agoList some items, see if you like doing ebay as a seller, see if it is profitable for you or a waste of your time attempting to sell on ebay. Try it before you even think about switching to a business account.
In most cases a personal selling account serves the purposes of most sellers on ebay.
Even if you are successful and do over 20K and 100 sales a year, even with a personal account you will still receive a 1099 at the end of the year for tax purposes.
jonathanbrightlight
·5 months agoIs your business a Sole Proprietor, or did you register as an LLC or Corporation? If it's just a Sole Proprietorship for now, you shouldn't have to switch anything for tax purposes.
It's possible the option won't show up until you list your first item, or at least begin that process. If you've never sold anything before, try following the steps here: https://www.ebay.com/help/selling/getting-paid/registering-seller?id=4792
albertabrightalberta
·5 months agoYou don't need a "business" account for tax purposes. You use your "regular" account and just keep records of your COGs and other expenses and fees incurred by your sales.
cherrychoice
·3 months agoare you saying that selling with a personal account is ok for a business providing records are kept and earnings are declared to the tax authorities? so, maybe ok in the US but what about here in the UK? maybe somebody know?
redmodelt
·3 months agoYou are in the UK, you need to ask this question there not here. All tax things are very different between the UK and here in the USA.
Please re-ask your question on your home board.