Re: who claims their paypal income for tax purposes
 

gross

Re: who claims their paypal income for tax purposes
 

u still paying income tax? ---> Zeitgeist

Re: who claims their paypal income for tax purposes
 

Since I got an audit 2 years ago I claim everything under the ------- sun I buy. I can't be audited again until the 09 taxes unless they suspect me of fraud.

Remember the IRS is not the law. They simply interprit the law, just as you are allowed to interprit it. And Don't give in to their ----. Once you've told them how you feel about something a good two or three times put you foot down and say you KNOW they've been taking to court for this and lost whatever you're claiming before, so if they want to go then you'll be happy to meet them there.


Which won't happen because guess why??? The Audit people are promoted on the basis of how much they make they IRS. And they DAMN sure aint going to cause a huge ------- fuss to their own bottom line over afew hundred / a couple grand of money.






Dun let the IRS scare you.

Re: who claims their paypal income for tax purposes
 

The year before last I did about 20k total for paypal, didn't file, no audiit. Last year there were a couple months that I received over 10k per month. Some of that got split with a couple friends, some got reinvested, etc...I'm not trying to figure out what goes where.

paypal is a private company holding peoples money, I don't think the government can easily get your financial info from them without a warrant. If you just withdraw through atm like I do instead of transferrin to the bank, I don't think they'd have much info on ya.

Re: who claims their paypal income for tax purposes
 

WTF were you doing to be taking in 10k a month from paypal, and where do i sign up?

Re: who claims their paypal income for tax purposes
 

Don't ---- with the IRS, if you're doing anything remotely illegal - the tax man will ---- you before the authorities do. I know a guy that did a year and had to pay 4.5 in back taxes and he was mostly legit. Dude sends checks for more than he owes.

No offense but i highly doubt they're gonna waste the money it costs for a forensic accountant to tally up your couple thou to burn you for pennies in comparison. If you were doing a half in gross sales then i'd talk to an accountant but i'm not sure if that's the case.... be careful regardless.

Re: who claims their paypal income for tax purposes
 

Speaking of the IRS, I just got a lovely letter from them in the mail today. It seems they haven't forgotten that I owe them money. They sure do have a good memory. :S
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Re: who claims their paypal income for tax purposes
 

meh, can't get money from a broke person.

I made $15,027 last year, but have $14,065 in mileage deductions, $540 for cell phone. So right now I owe taxes on $422 profit for the year.

Re: who claims their paypal income for tax purposes
 

what mileage are you deducting? I drive about 90 miles per day for school alone, can I deduct that?

Re: who claims their paypal income for tax purposes
 

Yeah I also donated a lot of money to charity and my school expenses were x3 lol