| agent006140 | 04-25-2019 02:00 PM |
Re: Paypal taxes in another persons name SSN
Quote:
Originally Posted by johndo28
(Post 997419)
Im not an accountant are you? Do you have an alternative way to do it without my father taking the burden?
| I told you,what ever the profit comes to,add you as a contract worker and your salary = profit,then the bottomline is zero.
He has to send you a 1099 and you report it as salary/wage.
his accountant would know how to handle it.
Your accountant should know better,sales - cogs =0,the what about expenses,add that to 0,he has a loss which he can claim on his 1040.
he should suggest adding all the legi expenses to this business and come up with a loss or profit,
if a loss,then no need to get you invloved,if a gain,then wipe that gain out with sending you a 1099 as contract worker. | 
