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Old 11-06-2014
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Default Using an acquaintances' PayPal account and taxes.

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?
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Default Re: Using an acquaintances' PayPal account and taxes.

Yes absolutely
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

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Default Re: Using an acquaintances' PayPal account and taxes.

Quote:
Originally Posted by vogeltron View Post
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

irs will be coming after the guy who has the SS number on the account wtf..
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

This is a really bad idea.....
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

Playing with fire OP...and someone else's financial status - not a good move
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

It's hard to believe you even have to ask that, and yet are smart enough to turn on a computer?

That SSN number is going to get over $20K of income reported to the IRS..what do you think the IRS does?
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

You picked the perfect name...Because if you proceed, your ship will be sinking FAST.
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Old 11-09-2014
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Default Re: Using an acquaintances' PayPal account and taxes.

Wow thanks guys, I see you all are very kind.
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Old 11-09-2014
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Default 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.
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Default 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....
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Default Re: Using an acquaintances' PayPal account and taxes.

it's not that the $20k will be taxed, just the profit of that $20k will be taxed.
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