Sunday, August 22, 2010

Money Orders/small business help?

I need to find a place were i can buy money orders online with my paypal account to send them to myself. Ive found a few places that sell money orders, but only one, payko, that accepts paypal. But there service agreement basically says that they have absolutely no obligation to send you your money.





The reason i need to send money orders to myself is because i run an ebay business and get all my money through paypal. But paypal has a 500$ monthly withdrawal limit unless you confirm your identity by giving them your SS#. But i cant do that because im a minor so theyll freeze my account until im 18. Anyways my money is just accumulating in there, ive already built up a few thousand i cant get out. If you have any other ideas to free my $ that would be good. I cant do paypal in my parents name because the extra $ will bring them into the next tax bracket so we'll all be loosing $. Im loosing $ in potential profits cuz of all the $ laying around rather than being invested in inventory.

Money Orders/small business help?
Okay. First I want to say I want to sell on ebay can you educate me? Have you looked online at the post office? If you form an LLC you would be better because as an LLC you claim the receivables as income, but you also file a schedule C which would allow you to write off anything associated with the business. If it is home based then calculate the area of the home and the percentage used for the business. Then you write off that percentage of utility bills, property tax, homeowners insurance etc. Your parents would have to do this but they would gather a wealth of write offs too. Insurance paid through their employers at work can be written off as a business deduction through the company. Most of their expenses ..going out to eat, gas in the car (if business related) is a write-off . You could then accept other forms of payment linked to your business checking account and make withdrawals through paypal. By trying to avoid an additional tax bracket you are missing out on a wealth of oppurtunity. Go to your state secretary of state website to learn more.
Reply:You can get a paypal card. You use it just like you would a debit card, except it withdraws money from your paypal account rather than your bank account.
Reply:I was only asked to supply a bank account. Open a checking or savings account and tie it to your paypal account. Then you can withdraw directly into there.
Reply:moneybookers.com
Reply:Your parents are going to have to fix this. There is no other way around it.


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