How do you pay taxes on Stealth Accounts??

[HowYaLivin]

Is it even possible to pay taxes on Stealth accounts without opening a can of worms?

[cherrqell]

Originally Posted by HowYaLivin

Is it even possible to pay taxes on Stealth accounts without opening a can of worms?

The IRS doesn't care how you make it, they just want a cut. If you want to write off your expenses, file a sched. C profit and loss.

[HowYaLivin]

That still doesn't explain how a fiticious name pays taxes. Just sending the IRS a check is not going to cut it.

[sickofbaypowertrip]

I need this information also! PP wants me to add my ss# but when I do it will match up with another account then they will tell ebay & I will be shut down, I'm afraid! I have a business EIN but won't they match the dba name and street address also?

[jbluntz]

You pay taxes on the money that goes into your bank account.

[HowYaLivin]

now That make Perfect sense. Thanks bluntz

[HowYaLivin]

But wait, so the IRS is only concerned about the bank acct owner linked to the Paypal account and NOT the Paypal acct. Do I have this correct?

[GreenBean]

You see a tax accountant to work out the best manner of dealing with this. You do a search of the forum too. It's been spoken about many times.

Paypal and reporting to IRS 1099 have had plenty of threads.

[GreenBean]

http://www.aspkin.com/forums/paypal-...d-s-s-irs.html

http://www.aspkin.com/forums/amazon/...do-my-own.html


2 threads to help.

Bear in mind, we are not a tax forum. You should look elsewhere for help.