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Old 06-23-2012
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Post Stealth accounts & paying income tax?

How would a stealth account pay income tax?

Because all your info on there is just made up or doesn't belong to you...

and don't they (PayPal and/or eBay) report sales of $20k+ and pass along "your" info to the IRS or CRA? (if you're in Canada like me)
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Old 06-23-2012
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No, you actually don't have to worry about the tax because ebay and paypal charges you each time you list and they pay tax instead of you having to pay.
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Old 06-23-2012
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Discussing taxation or any legal matters is a BIG 'no no' on here but I'll say this much: the above answer is incorrect.

Op, I'd seek professional advice from a tax specialist.
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Old 06-23-2012
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Quote:
Originally Posted by SUVE View Post
Discussing taxation or any legal matters is a BIG 'no no' on here but I'll say this much: the above answer is incorrect.

Op, I'd seek professional advice from a tax specialist.

Sorry I didn't know that.. And yeah the guy who answered 1st is clearly wrong.
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Old 06-23-2012
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Quote:
Originally Posted by club1010 View Post
No, you actually don't have to worry about the tax because ebay and paypal charges you each time you list and they pay tax instead of you having to pay.
HUH????

Sorry, but if you earn profits, online or offline, taxes must be paid. If you don't want to pay, that is up to you. If caught, you will have to deal with the consequences.

eBay does NOT pay any taxes for you. eBay pays the taxes they must pay as a corporation. Individual users and businesses MUST report and pay taxes on any profits.
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Old 06-23-2012
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Quote:
Originally Posted by SUVE View Post
Discussing taxation or any legal matters is a BIG 'no no' on here but I'll say this much: the above answer is incorrect.

Op, I'd seek professional advice from a tax specialist.
It is not that taxes cannot be discussed, but nobody on the board is a tax expert. The forum does not want to be responsible for any incorrect advice given.

When you need advice on matters such as law and taxes, you should seek the services of a licensed professional. That way, you will get the correct advice and avoid any trouble.
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Old 06-23-2012
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Seek professional tax advise.

Forum does not offer advice.
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