Liability & Legality

**RayChaney** · 08-14-2006, 05:18 PM

I hardly ever say "Always" or "Never," BUT, it's ALWAYS safer to report it, and if you're making enough for it to be at all complicated, you should really have a CPA.

**imported_Ian** · 08-18-2006, 01:26 AM

I consider everything I receive in my paypal as income!

**againes** · 08-18-2006, 05:07 PM

I am in the uk. I have a seperate account for my business and everything that goes through that is accounted for as business income.

**portopottey69** · 08-25-2006, 03:50 PM

At what point do you have to file for taxes for your paypal, what if I only made 200$ per month.

**chovy** · 08-25-2006, 04:27 PM

i only report income related to my business dealings. If i sell something on ebay for $100, I don't report that.

**Romestar** · 08-25-2006, 04:30 PM

Quote:

Originally Posted by portopottey69

At what point do you have to file for taxes for your paypal, what if I only made 200$ per month.

if you make over $600/year you have to pay taxes. You really need to look into it.

**Sygon** · 08-25-2006, 09:03 PM

Quote:

Originally Posted by Romestar

if you make over $600/year you have to pay taxes. You really need to look into it.

Does that count in the us only?

**Next** · 08-25-2006, 10:09 PM

Quote:

Originally Posted by Romestar

if you make over $600/year you have to pay taxes. You really need to look into it.

The IRS demands that you pay taxes on any and all income that you receive.

**Romestar** · 08-25-2006, 11:49 PM

Quote:

Originally Posted by Next

The IRS demands that you pay taxes on any and all income that you receive.

no, if you don't make more than $600/year then you don't need too.

**portopottey69** · 08-26-2006, 12:07 AM

Does this count for things like selling some stuff on ebay which so happens that it went over 600$ in that year, which is really unreasonable if you ask me.

**Romestar** · 08-26-2006, 12:55 AM

Quote:

Originally Posted by portopottey69

Does this count for things like selling some stuff on ebay which so happens that it went over 600$ in that year, which is really unreasonable if you ask me.

no, but you have to pay sales tax technically.

**portopottey69** · 08-26-2006, 04:09 PM

Paypal takes off a fee from money sent, is that possibly part tax?

**DussRodg** · 08-26-2006, 05:21 PM

Paying taxes is a must! There are benefits if done properly. If you own a home a percentage can be written off for business use. If you use a pc (lol) you can sometimes write off peripherals and devices used for your business so if you want to stay away from the bad boys in IRS and any tax problems in your country; I say pay those taxes or get someone who knows how to do it for you! But do it! You don't want to be shut down for being irresponsible now do ya?

**chovy** · 08-26-2006, 06:34 PM

Quote:

Originally Posted by DussRodg

Paying taxes is a must! There are benefits if done properly. If you own a home a percentage can be written off for business use. If you use a pc (lol) you can sometimes write off peripherals and devices used for your business so if you want to stay away from the bad boys in IRS and any tax problems in your country; I say pay those taxes or get someone who knows how to do it for you! But do it! You don't want to be shut down for being irresponsible now do ya?

thepaypaltax.com