2011 Taxes

[yoyoman]

Ok this is my situation.
1. I have 3 stealth seller accounts- all tied to same paypal - None of the accounts are flagged all in good standing
2. I sell alot of items direct sales non ebay that get paid thru my stealth account.
3. My stealth paypal account is tied to one of my bank "real" accounts.
4.I had over 20,000 go thru my paypal - I dod not cross the 200 item mark on any of my seller accounts.

How do I file my taxes for this income- can I say I worked for someone who paid me direct - Do I just close bank account and start a new stealth paypal with new bank info for 2012?

Help !!

[rsot]

You might need to speak with a registered accountant for this kind of big advice.

[GreenBean]

Take professional advice .

Well documented here that is the correct manner to deal with taxes.


Stealth or otherwise you are earning monies so taxes need to be paid.