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| Thread title: PayPal Taxes?! |
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01-04-2007, 05:23 AM
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#11
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Join date: Dec 2005
Location: Colchester, UK
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It's times like these that make me glad I'm british. 
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01-04-2007, 05:39 AM
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#12
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Location: US
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Yea, I quit my job. It wasn't worth it. The little amount that I made, then a huge chunk going over to taxes. Just wasn't worth while.
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01-04-2007, 05:46 AM
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#13
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Status: TFL Veteran
Join date: May 2005
Location: FL, USA
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If you have a job you pay taxes, any money you make or receive is "supposed" to be taxed.
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01-04-2007, 07:45 AM
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#14
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Here's a few facts, the government doesn't give a crap how old you are, as long as you are making a income, they want a part of it.
I don't know what the base price is, I don't think theirs a set price, but depends on what you do and where you live.
Since, this year I received a letter from IRS. Saying they have discovered a decent income from my PayPal, into my bank.
It listed that PayPal and Wells Fargo reported my income. Seems like there getting stricter.
I haven't gone to the tax guys yet, but I need to go before 4.1.07.
As sm said, most jobs that are recognized by the IRS, have an option for the Taxes to be taken out of your income/paychecks.
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01-04-2007, 08:13 AM
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#15
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Status: Member
Join date: Feb 2006
Location: Ponca City, OK
Expertise: xHTML/CSS/PHP/Computer Tech
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I don't put my PayPal money into the bank, I spend it out of PayPal. Also I believe if you make less then $600 a month you don't have to file that on your taxes.
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01-04-2007, 08:29 AM
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#16
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Originally Posted by mikeroq
I don't put my PayPal money into the bank, I spend it out of PayPal. Also I believe if you make less then $600 a month you don't have to file that on your taxes.
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It's not on a monthly bases, my father said the broker told him it's all based on your yearly gross.
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01-04-2007, 08:33 AM
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#17
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Status: Pastafarian
Join date: May 2006
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TalkFreelance is NOT the place you want to be asking for advice about taxes... for that matter, and non tax professional forum is a poor place for asking about tax related info.
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01-04-2007, 09:04 AM
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#18
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Originally Posted by Blue Ire
TalkFreelance is NOT the place you want to be asking for advice about taxes... for that matter, and non tax professional forum is a poor place for asking about tax related info.
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He simply just asked if he would have to pay, I can see why he would ask here. Almost everyone here uses PayPal to do there online work. And wanted to see if anyone else has to pay taxes.
I didn't know there was any proffesional tax forum, I thought you just go to a broker... 
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01-04-2007, 10:27 AM
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#19
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Status: @39forte
Join date: Mar 2006
Location: England
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Originally Posted by Indy
It's times like these that make me glad I'm british. |
Amen to that 
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01-04-2007, 10:39 AM
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#20
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