PayPal & Taxes

friends and family payments would not count towards that as there are no fee's for friends and family unless you receive payments from a different country. Sending payments across to a different country with personal payments gives the sender the option to pay the fee's which is usualy between 0.5%-1% or the recipient to pay the fee.

 

Yeah but say I do go over the 200 transaction limit, how do I go about paying the taxes on it?

 

bump :\

 

Go visit a tax consultant.. or call paypal

 

Quick question. When you chargeback someone on Paypal are there fees? How much are these fees if there are any and at what point are they issued during the process. I'm curious because I chargedback $600 that I donated to Ikov and it was refunded to my account within 3 days (and there were no fees). David refunded my purchase as soon as he saw my case, he guaranteed the refunds as long as they were within the 2 week time span that he had offered.

 

Hey, this might help you:

1st. Your paypal if it is not fully verified has a limit (believe its 15k).
If yours is fully verified you have no limits. However ( as Arcus said), once you have more then 200 transactions or 15k (depends on country) on it Paypal will inform you and/or contact the IRS. This basiclly means you have to switch to a Business paypal (always do that.) and start up a company that does virtual trading (AKA selling RSGP.). The moment you make your company you can declare everything as virtual good which isn't easy to taxx and you can play arround with that if you know how to play your cards right .

 

Very interesting post, have been thinking about this myself a lot. How to go about this flipping & taxes. Its a very vague topic :/ Hope anyone has some info on this for the Netherlands.

 

I also need help bump pls

 

Damn all this info was very helpful thanks guys