 got hit with the SS# email, how do you pay your taxes?
So I got hit with the 200/$20k email on my biggest account today. Luckily it's my ONLY legit account so the SS# isn't a problem. Please don't hate me, but I've been doing this since 2004 and have never paid my taxes. I know, I know, but keep the stones in your pockets... we are military so we do our share, lol.
Anyway, how do you pay your taxes? What I mean is:
1. Will PP just send a 1099?
2. I do a spreadsheet that calculates my profit. I enter all my sales, then subtract my cost and subtract ebay fees, paypal fees, shipping and shipping supplies via excel. Obviously the amount PP has is going to be different than the profit you actually made. How do you "prove" to the IRS what your profit actually was so you don't pay taxes on the entire payment that was made to you?
I hope someone can answer and hope my post will be helpful for others with the same questions.
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