Re: Going big but what about taxes
congrats on your business.
the paypals are stealth but they go in to your real name bank, this is usually all that matters, regarding reporting.
others may chip in but if there is a tax enquiry, eg. wanting more info on the actual paypal accounts, the only explanation is that they are 'doing business as' or DBA names. Whether this is acceptable, maybe another forumer who has experienced it can tell you, from what I have read, paypal/ebay are not financial institutions like banks, and you do not have to give your real details to them by law, but it is a grey area. Getting a professional tax advisor is worth it for you, they can also write-off alot of your expenses and reduce your tax.....
Last edited by oompaloompa; 03-16-2014 at 06:54 AM.
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