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Stealth and Taxes
 

Do you guys with Stealth pay taxes? how do you manage that side of the business?

Re: Stealth and Taxes
 

Gross amount of funds received and start deducting costs of goods and all businesses expenses allowed by your government. It is the same as any other income :)

Re: Stealth and Taxes
 

Pay taxes - seek a financial professional for further advice, sure

Re: Stealth and Taxes
 

your government expects you to report all income earned ,when you get audited,auditor could not care less if you are using a psuedo name and address.
It would compare what you report on the tax return with your bank statements.
thats all it matters,who cares if you sell under name like Mickey Mouse or Donald Duck or Dracula and live in MARS,what they see is that $$$ coming into your bank account .registered under your taxpayer name.

Re: Stealth and Taxes
 

So you guys declare income / pay taxes on the money earned on your stealth?

@Agent006140 Really they dont ask names? could you describe the process? steps?

Any UK input would also be appreciated.

Re: Stealth and Taxes
 

Also guys, I need your honest opinion, what do think of earning and not declaring? good idea or not? and can you explain your reasons? why you think its a good idea or why you think it isn't.

The GOV in the UK doesnt seem to go after online money. I might be wrong, if any UK user ever had to deal with that side of things, your input would be appreciated.

Re: Stealth and Taxes
 

Bad idea

HMRC just catch onto things like that all the time now

PayPal and HMRC do have an information sharing agreement so you are best just paying taxes. They have come down hard the last 12 months on online sellers.

Re: Stealth and Taxes
 

Thanks James, Even if your Ebay and Paypal have stealth Names?

Re: Stealth and Taxes
 

Couldn't be more wrong. It's so much more easier to track digital (online) money, and thus easier to spot tax evasion. HMRC have systems designed solely for spotting this sort of behaviour.

Your best bet is to find an accountant, and start from there.

Re: Stealth and Taxes
 

Thanks, I will look into it soon.

What about the stealth names? how can the GOV tie it to you with those names?

What do you say to the accountants in regard to the names?