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Here is a Fact if you sell on line and want to keep your Paypal Transactions below 200 Items


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I need you to show your work with this math - 25(whatever the hell that symbol is) per (cresident? I thought it was Slovenian) whatever comes from where? I thought you said they got  13.000 per year?

 

Also what does "XY children" mean? Do you all generally multiple two variables to tell how many children you have?

 

I made a typo i meant resident! Sorry

 

as for XY it it means a double digit number.... They get 13.000 per MONTH! which is more than I get per year

 

 

technically they made 50 kids and get monthly more than I make a year....

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I made a typo i meant resident! Sorry

 

as for XY it it means a double digit number.... They get 13.000 per MONTH! which is more than I get per year

 

Ah ok makes sense now. Well, don't worry - there are plenty of people here that do the same sort of thing. But I am a little more worried about the children than how much money their parents are getting.

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Ah ok makes sense now. Well, don't worry - there are plenty of people here that do the same sort of thing. But I am a little more worried about the children than how much money their parents are getting.

 

 

Exactly... me to... sadly, whatever it my sound... Id rather they get 13.000 a month and NEVER get children as return.... :P it would save my country alot of trouble in future ...

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Oops, I didn't know we were supposed to pay taxes.  Hey, why are there so many guys in dark suits and sunglasses surrounding my house?  Uh, I better go now......

Don't worry, that's just us Mods paying you a visit.

"Hear that, Mr. Anakin?....That is the sound of inevitability....It is the sound of your death....Goodbye." :keeporder:

http://www.youtube.com/watch?v=x5m1A7zoIcc

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  • 2 weeks later...

I started selling Lego this year.

 

I had my own paypal account and it's up to around 150 transaction and $16K gross income.

 

And I asked my wife to open a paypal account in July and now it's up to 55 transactions and $18K gross income.

 

So paypal won't look at both and combine it and saying it's over 200 transactions and over $20K.

 

Am I correct?

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I started selling Lego this year.

 

I had my own paypal account and it's up to around 150 transaction and $16K gross income.

 

And I asked my wife to open a paypal account in July and now it's up to 55 transactions and $18K gross income.

 

So paypal won't look at both and combine it and saying it's over 200 transactions and over $20K.

 

Am I correct?

 

 

It doesn't matter, because you need to report all that income and take any applicable expenses against it. Talk to an accountant, you'll likely be filing a Schedule C. The PayPal reporting has NOTHING to do with your reporting requirement to the IRS and to your state (if you live in a state that has income tax).

 

If you fail to report your business income, regardless of any 1099 you do or don't receive, you are committing tax evasion, and people get put in jail for that every year.

 

Don't mess with the IRS.

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