I am planning on making more than $20,000 in transactions through a PayPal on an account that is SSN verified by another person. Will this affect the taxes that that person will have to pay?
The complete step-by-step guide to get back to selling today!
Re: Using an acquaintances' PayPal account and taxes.
You are risking someones financial information and possibly their livelihood if something goes wrong.
There are many horror stories of people who use families/friends/cousins/dogs legal information and it winds up a mess. sometimes even LARGER than having a tax issue with the IRS.
Re: Using an acquaintances' PayPal account and taxes.
Blueship, Uncle Sam (IRS) will be after the person's income tax. If you make money, you have to pay the tax. Just pay the tax for 20,000. It should not be that much anyway....