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Title: PAYPAL - 1099s - what the ??? Post by: FOXSSLOTS1 on February 03, 2012, 12:15:53 PM just got today (2/2) - late by the way - a 1099 from PAYPAL - for the TOTAL amount they collected - that includes SHIPPING - SALES TAX - GIFTS - etc. Does that mean - that if you have a merchant account - uncle sam gets notified and a 1099 is issued to???
Title: Re: PAYPAL - 1099s - what the ??? Post by: slot monkey on February 03, 2012, 12:27:27 PM My guess would be YES!
Title: Re: PAYPAL - 1099s - what the ??? Post by: zarobhr on February 03, 2012, 12:49:49 PM yes starting 1-1-11 all money recieved through a merchant account they will issue a 1099-k its just a record that money is changing hands, kinda like the bank reporting cash transaction over 10k to irs so
Title: Re: PAYPAL - 1099s - what the ??? Post by: FOXSSLOTS1 on February 03, 2012, 01:00:14 PM how do I setup and off shore account? guess I need to ask my representative.
Title: Re: PAYPAL - 1099s - what the ??? Post by: zarobhr on February 03, 2012, 01:10:19 PM more info you should only get one from paypal if your gross receipts exceed 20K AND there are over 200 transactions
Title: Re: PAYPAL - 1099s - what the ??? Post by: CaptainHappy on February 03, 2012, 07:12:52 PM What a crock of :58- :58- :58- 1099's from paypal! :8- :37- :8-!!!
CH :95- Title: Re: PAYPAL - 1099s - what the ??? Post by: poppo on February 03, 2012, 07:31:48 PM What a crock of :58- :58- :58- 1099's from paypal! :8- :37- :8-!!! CH :95- If anything, one should be able to claim it as a deduction since they 'steal' the interest on the money that they hold hostage. Title: Re: PAYPAL - 1099s - what the ??? Post by: crgadyk on February 03, 2012, 07:46:44 PM Or they just rob you completely from your money. Someone on an international IP address hacked my paypal account the other day and moved $1000 from my checking account until my paypal account. I'm assuming they were going to then move it from my paypal account to their account but I caught it. I called them and they wanted to argue that I made the transaction, even after they looked and figured out that the request was coming from out of the country.
They suspended my account and I had to jump through hoops to ask them to reinstate it. Now they're holding my account hostage since I called my bank and disputed the transaction. Paypal thinks I should have just let it go and then later on transferred the $1000 back into my bank account from my paypal account. I'm a super fan of paypal at this point :30- Title: Re: PAYPAL - 1099s - what the ??? Post by: Hotrodslots69 on February 15, 2012, 02:14:11 AM When government has no money they find creative ways to create tax revenue (take from the poor and give to the rich) what do you expect them to do work! :8- :8-
Title: Re: PAYPAL - 1099s - what the ??? Post by: jay on February 15, 2012, 03:07:33 PM I am based in Canada (sounds better than Nigeria eh).
They haven't got this handled yet here.... I will put the offer out that you have your clients pay me. I will then forward the money to you via cheque less my handling fee......3% for me, 5% currency risk (total 8% fair ?) As long as the transactions are below the 10K mark we shouldn't run into any international tax issues. Title: Re: PAYPAL - 1099s - what the ??? Post by: Slots_007 on March 12, 2012, 05:57:09 PM When government has no money they find creative ways to create tax revenue (take from the poor and give to the rich) what do you expect them to do work! :8- :8- Oh, Just like how the ATF burns us for $200 when we transfer a machine-gun or short barreled rifle? Lets not forget the Special Occupational Tax ($$$) to sell firearms and another Special Occupational Tax ($$$) to manufacture firearms even in small quantities? :12- :12- :12- I love our country, but I fear our elected officials :139- :95- BY THE WAY, PAYPAL OWES ME $300+ THAT THEY NEVER REFUNDED...I HATE THAT COMPANY :37- :37- :37- |