Vote for BP.Net for the 2013 Forum of the Year! Click here for more info.

» Site Navigation

» Home
 > FAQ

» Online Users: 796

2 members and 794 guests
cboltsd, MichPlat,
Most users ever online was 47,180, 07-16-2025 at 05:30 PM.

» Search Forums

» Today's Birthdays

None

» Stats

Members: 75,905
Threads: 249,107
Posts: 2,572,120
Top Poster: JLC (31,651)
Welcome to our newest member, Pattyhud
Results 1 to 10 of 37

Thread: PayPal and IRS

Threaded View

  1. 01-12-2010, 10:40 PM #11
    RichsBallPythons
    RichsBallPythons is offline
    BPnet Veteran
    Join Date
    01-30-2009
    Posts
    6,112
    Thanks
    1,163
    Thanked 1,689 Times in 1,200 Posts
    Images: 4

    Re: PayPal and IRS

    Quote Originally Posted by 2kdime View Post
    Make over 20k through Paypal? 1099

    Do over 200 transactions? 1099

    Make under 20k or under 200 transactions? Honor system to report additional income on taxes.
    Read the article on the link i posted and itll show you what im refering to.

    and yes if your below the new legislation law of 20k and 200 transactions paypal will not report it to the IRS there for leaving YOU to do all the necessary paper work to claim the taxes. So for every sale you make, you need ot set aside 30-40% of that as its now Uncle Sames
    Last edited by RichsBallPythons; 01-12-2010 at 10:43 PM.
    Reply With Quote Reply With Quote
« Previous Thread | Next Thread »

Posting Permissions

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

Forum Rules
Powered by vBadvanced CMPS v4.2.1