Stealth and Taxes - eBay Suspended & PayPal Limited Forums
eBay Suspension & PayPal Limited Forums  
Join Today
Register Subscribe
     

Registration is fast, simple and absolutely free so please, join our community today!


Go Back   Home > Marketplace Discussions > eBay Discussion!

eBay Discussion! EBay Forum. News, Updates, or Anything eBay is Welcome. A kind of lounge if you will.

Reply
 
Thread Tools
  #1  
Old 12-14-2019
Member
 
Join Date: Dec 2019
Posts: 85
Thanks: 0
Thanked 8 Times in 8 Posts
Activity: 24%
Longevity: 2%
iTrader: (0)
Default Stealth and Taxes

Do you guys with Stealth pay taxes? how do you manage that side of the business?
Reply With Quote
The complete step-by-step guide to get back to selling today!

  #2  
Old 12-14-2019
yankee's Avatar
Executive [VIP]
 
Join Date: Nov 2013
Posts: 8,021
Thanks: 2,366
Thanked 2,700 Times in 1,980 Posts
Activity: 35%
Longevity: 48%
iTrader: (2)
Default 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
Reply With Quote
The Following User Says Thank You to yankee For This Useful Post:
agent006140 (12-14-2019)
  #3  
Old 12-14-2019
rsot's Avatar
Executive [VIP]
 
Join Date: Dec 2009
Posts: 60,549
Thanks: 4,749
Thanked 7,335 Times in 6,689 Posts
Activity: 100%
Longevity: 78%
iTrader: (7)
Default Re: Stealth and Taxes

Quote:
Originally Posted by RipeBanana View Post
Do you guys with Stealth pay taxes? how do you manage that side of the business?
Pay taxes - seek a financial professional for further advice, sure
Reply With Quote
  #4  
Old 12-14-2019
agent006140's Avatar
Senior Member
 
Join Date: Jul 2018
Posts: 7,091
Thanks: 843
Thanked 539 Times in 500 Posts
Activity: 97%
Longevity: 12%
iTrader: (0)
Default 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.
Reply With Quote
  #5  
Old 12-14-2019
Member
Threadstarter  
 
Join Date: Dec 2019
Posts: 85
Thanks: 0
Thanked 8 Times in 8 Posts
Activity: 24%
Longevity: 2%
iTrader: (0)
Default 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.
Reply With Quote
  #6  
Old 12-14-2019
Member
Threadstarter  
 
Join Date: Dec 2019
Posts: 85
Thanks: 0
Thanked 8 Times in 8 Posts
Activity: 24%
Longevity: 2%
iTrader: (0)
Default 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.
Reply With Quote
  #7  
Old 12-14-2019
JamesNorth101's Avatar
Super Moderator
 
Join Date: Apr 2013
Posts: 17,940
Thanks: 1,667
Thanked 4,582 Times in 3,534 Posts
Activity: 77%
Longevity: 52%
iTrader: (395)
Default 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.
Reply With Quote
  #8  
Old 12-14-2019
Member
Threadstarter  
 
Join Date: Dec 2019
Posts: 85
Thanks: 0
Thanked 8 Times in 8 Posts
Activity: 24%
Longevity: 2%
iTrader: (0)
Default Re: Stealth and Taxes

Quote:
Originally Posted by JamesNorth101 View Post
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.
Thanks James, Even if your Ebay and Paypal have stealth Names?
Reply With Quote
  #9  
Old 12-14-2019
Play's Avatar
Senior Member
 
Join Date: Aug 2012
Posts: 6,399
Thanks: 1,110
Thanked 1,637 Times in 1,327 Posts
Activity: 8%
Longevity: 57%
iTrader: (39)
Default Re: Stealth and Taxes

Quote:
Originally Posted by RipeBanana View Post
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.
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.
Reply With Quote
  #10  
Old 12-14-2019
Member
Threadstarter  
 
Join Date: Dec 2019
Posts: 85
Thanks: 0
Thanked 8 Times in 8 Posts
Activity: 24%
Longevity: 2%
iTrader: (0)
Default Re: Stealth and Taxes

Quote:
Originally Posted by Play View Post
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.

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?
Reply With Quote
Reply



Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Invoices for Stealth Taxes? n100b Everything Else 2 10-18-2016 07:38 PM
How does amazon taxes work on products? Some have taxes some dont golferman Amazon 3 03-02-2016 08:27 PM
200/20k with a stealth account, taxes? MakingMoney22 eBay Discussion! 5 12-21-2015 02:22 PM
Paypal Stealth and Taxes PaMike PayPal Talk 9 12-25-2014 09:58 AM
My Stealth Account and Taxes Casper Subscriber Discussions 2 03-30-2013 09:31 AM


Aspkin Group

All times are GMT -5. The time now is 03:09 AM.


Stop the guessing games and learn how you can quickly and easily get back on eBay today!
Read the best selling step-by-step eBay Suspension guide eBay Stealth!
Amazon Suspension? Read Amazon Ghost to get back on Amazon!
vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Ad Management by RedTyger
no new posts