Quoting this in case he tries to delete it later realizing information never dies on the internet.
PAY YOUR TAXES jackhole!
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paypal tax reminder
- Thread starter The Vector Doctor
- Start date
Quoting this in case he tries to delete it later realizing information never dies on the internet.
PAY YOUR TAXES jackhole!
signage
New Member
Gino
Premium Subscriber
It was easier to cheat on your returns 40 years ago when they didn't have the manpower to track everything down, but with a computer paper trail and modern technology... you're silly if you try to fool the IRS and think you're not being watched.
Like ddarlak said in post #14, do it right. I agree 110%.
Sure can tell this year is coming to an end..........
Like ddarlak said in post #14, do it right. I agree 110%.
Sure can tell this year is coming to an end..........
TyrantDesigner
Art! Hot and fresh.
In a service heavy business such as this, cash sales are hard to track. If most of your cost is ephemeral and not a solid object (such as man hours and overhead on equipment) most auditors will be extremely hard pressed to find anything out of the ordinary if you have no invoice and no digital trail of money to track and follow. It is why some businesses still do the cash only thing.
JoshLoring
New Member
You could live in California and have the state 1099 you for your federal tax return..
I mean really? Shouldn't this be illegal?
I mean really? Shouldn't this be illegal?
visual800
Active Member
so when paypal send you this form they are going to show ALL transactions OR will the break it down?......it's ok kids just because your on a public forum no sense in trying to convince me you are 100% on the up and up....cause if I were to get paid in cash I damn sure wouldnt admit it
The Vector Doctor
Chief Bezier Manipulator
Are you talking about charging sales tax? That is different. The paypal issue here is about claiming taxable income
Gino
Premium Subscriber
For me, I don't need to convince you.[FONT="] [/FONT] You don't collect my taxes.[FONT="] [/FONT] We have several accountants work on our year-end returns and quarterlies.[FONT="] [/FONT] We are set up as legal as you can be.[FONT="] [/FONT] Sure, if someone hands me a 10 spot for a piece of cut-off, I'm not going to declare it.[FONT="] [/FONT] However, should someone pay me cash, and doesn't ask for a receipt.... don't you think they might be declaring it for their write-offs ?? If your company's name appears on someone's tax returns and it is cross-referenced, don't you think they might come a knockin' on your door ??
Only a fool would play with the IRS and try to beat them at their own game. [FONT="]
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[FONT="]Let's try this one out. Do any of you have a tax exemption number ?? If not, how do you set up your invoice
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Bigdawg
Just Me
I've always claimed my paypal earnings. I do all my freelance invoices (even the ones that don't pay through paypal) using it and it would be stoopid not to be on the up and up with it since it is a part of my income.
Years ago before electronics you could cheat. I don't see how anyone thinks they can get away with it now... even if it's not reported to the IRS there's that electronic trail that will ALWAYS be there. Just isn't a chance I want to take.
Years ago before electronics you could cheat. I don't see how anyone thinks they can get away with it now... even if it's not reported to the IRS there's that electronic trail that will ALWAYS be there. Just isn't a chance I want to take.
MatthewTimothy
New Member
actually this is incorrect. Statistics show that the IRS will audit 1 out of 10 people in their lifetime. An individual that runs a home business or home office is more than likely to increase the odds to 1 and 4. This is why my wife and I started to itemize to prove transactions. We keep all transactions in a filing cabinet and we will tell the IRS to have a look there is everything. Plus also be aware that they are really targeting people that claim their personal vehicle as a work expense or gas expenses. You must keep an actually running log with full receipts, and down to the mile of what you are doing OR the IRS will deny you. PLUS claiming you personal vehicle as a "work expense" gets you up the ladder at getting audited.
EDIT:
ALSO you can go to PayPal and print your documentation of the earnings there. They started doing this last year. Another institution that does this is EBay now. I dont really blame them though, why should someone that owns a store front be liable and forced to pay more taxes then someone that is generating a 100% profit from an online store. Not really fair, and YES I pay my taxes from online expenses.
MatthewTimothy
New Member
AND for the ones that may be curious the form you need to fill out for the IRS is called a 1099K
visual800 the number of times you've admitted to skirting the IRS on these forums is hilarious and sad. I have dinner sometimes with a former special agent for the IRS (computer forensics) and they're quite good at their jobs. I'd tone it down, or better yet, pay your taxes. You lose all conversational rights to ***** about tax rates, tax policy, etc. when you skirt the system and refuse to participate in grown up society.
149motorsports
New Member
ok dumb question. I accept paypal and have always claimed it as a sale. I'm no where near 200 transactions in a year nor 20,000. so i should be good correct?