If you have a business... - GoFuckYourself.com

StickyGreen · 09-28-2005, 03:57 AM

...that only makes money through paypal payments, how do you pay taxes on that? do you just simply keep track of how much you got paypal'd and report it as miscellaneous income?

AdPatron · 09-28-2005, 04:01 AM

I put it down in Quick Books as coming from the company that sent me the money. I also record the transaction number and fees given to PayPal.

StickyGreen · 09-28-2005, 04:04 AM

Quote:

Originally Posted by JoesTraffic

I put it down in Quick Books as coming from the company that sent me the money. I also record the transaction number and fees given to PayPal.

how much does paypal take for fees when you use them as a payment service?

AdPatron · 09-28-2005, 04:18 AM

Quote:

Originally Posted by StickyGreen

how much does paypal take for fees when you use them as a payment service?

You only pay a fee if you receive money, which I think is 2-3%.

StickyGreen · 09-28-2005, 12:20 PM

Quote:

Originally Posted by JoesTraffic

You only pay a fee if you receive money, which I think is 2-3%.

that's not too bad...except when it's like a $10,000 order they get like $300? :\

pornguy · 09-28-2005, 12:22 PM

Using only paypal for something like that is a mistake. They are know for freezing accounts, and holding the money. Be careful.

JD · 09-28-2005, 12:25 PM

Quote:

Originally Posted by StickyGreen

that's not too bad...except when it's like a $10,000 order they get like $300? :\

BAD IDEA! use 2checkout or fucking epass for that kind of money. I never keep more than 150 in my paypal

Cantinero · 09-28-2005, 12:38 PM

paypal sucks!

StickyGreen · 09-28-2005, 12:45 PM

Quote:

Originally Posted by SPeRMiNaToR

BAD IDEA! use 2checkout or fucking epass for that kind of money. I never keep more than 150 in my paypal

yea i think i'm gonna go with 2checkout...thanx...

StickyGreen · 09-28-2005, 12:46 PM

what about reporting taxes for wire transfers? how does that work? just keep track of how much each wire was and report the amount?

BlueWire · 09-28-2005, 12:56 PM

Quote:

Originally Posted by StickyGreen

what about reporting taxes for wire transfers? how does that work? just keep track of how much each wire was and report the amount?

if u have questions like this then i suggest u get an accountant

AdPatron · 09-28-2005, 01:31 PM

For $10,000, I require companies to mail me a check. I ONLY use paypal for small amounts.

Sosa · 09-28-2005, 01:42 PM

just keep track of everything. I'm sure if you did volume with paypal they have year end stats or papers that have everything also.

Pete-KT · 09-28-2005, 01:49 PM

I would get an accountent to answer these questions for u

AdPatron · 09-28-2005, 02:27 PM

Quote:

Originally Posted by NichePay_PeteKT

I would get an accountent to answer these questions for u

It's not rocket science.

StickyGreen · 09-28-2005, 04:41 PM

Quote:

Originally Posted by JoesTraffic

It's not rocket science.

exactly. fuck an accountant. i just wanna know how to report miscellaneous income. keep track of every dollar you made...and send it in on a 1099 right? can't be that difficult...

AdPatron · 09-28-2005, 05:13 PM

Quote:

Originally Posted by StickyGreen

exactly. fuck an accountant. i just wanna know how to report miscellaneous income. keep track of every dollar you made...and send it in on a 1099 right? can't be that difficult...

Correct. Don't include the fees you paid.

phonesex · 09-28-2005, 05:22 PM

Yes, paypal is good for small amount but for big amounts I would not trust them. When I say big I mean $5000 dollars plus

StickyGreen · 09-28-2005, 05:24 PM

i'm gonna do 2checkout.com for smaller orders and wire transfer for $1000+

09-28-2005, 03:57 AM	#1
StickyGreen . Industry Role: Join Date: Oct 2003 Posts: 13,076	If you have a business... ...that only makes money through paypal payments, how do you pay taxes on that? do you just simply keep track of how much you got paypal'd and report it as miscellaneous income? __________________ Refer Cam Girls and Take Home 10% of Everything They Make For Life

09-28-2005, 12:22 PM	#6
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	Using only paypal for something like that is a mistake. They are know for freezing accounts, and holding the money. Be careful. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

09-28-2005, 12:46 PM	#10
StickyGreen . Industry Role: Join Date: Oct 2003 Posts: 13,076	what about reporting taxes for wire transfers? how does that work? just keep track of how much each wire was and report the amount? __________________ Refer Cam Girls and Take Home 10% of Everything They Make For Life

09-28-2005, 05:22 PM	#18
phonesex Confirmed User Join Date: Mar 2005 Location: Phone Sex Pays! Believe it! Posts: 3,437	Yes, paypal is good for small amount but for big amounts I would not trust them. When I say big I mean $5000 dollars plus __________________ Phone Sex Pays Make $1.50 a minute! CLICK HERE TO SIGN UP NOW

09-28-2005, 05:24 PM	#19
StickyGreen . Industry Role: Join Date: Oct 2003 Posts: 13,076	i'm gonna do 2checkout.com for smaller orders and wire transfer for $1000+ __________________ Refer Cam Girls and Take Home 10% of Everything They Make For Life

09-28-2005, 04:01 AM	#2
AdPatron No commissions, no fees. Industry Role: Join Date: Apr 2003 Location: USA Posts: 17,706	I put it down in Quick Books as coming from the company that sent me the money. I also record the transaction number and fees given to PayPal.

09-28-2005, 12:38 PM	#8
Cantinero Confirmed User Join Date: Feb 2005 Location: caballos ranch Posts: 265	paypal sucks!

09-28-2005, 01:31 PM	#12
AdPatron No commissions, no fees. Industry Role: Join Date: Apr 2003 Location: USA Posts: 17,706	For $10,000, I require companies to mail me a check. I ONLY use paypal for small amounts.

09-28-2005, 01:42 PM	#13
Sosa In Tushy Land Join Date: Oct 2002 Location: Nebraska Posts: 40,149	just keep track of everything. I'm sure if you did volume with paypal they have year end stats or papers that have everything also.

09-28-2005, 01:49 PM	#14
Pete-KT Workin With The Devil Industry Role: Join Date: Oct 2004 Location: West Bloomfield, MI Posts: 51,532	I would get an accountent to answer these questions for u