Quote:
Originally Posted by LifeInHighDef  Actually I think you do have to pay taxes.
Something like if you make $400 or more a year. |
No, you have to pay income tax if you withdraw a certain amount from your paypal. Any source of income you technically have to pay tax. However, selling household items laying around doesn't count as a job, so it is hard to determine if you are making an income or not. That way, they just put a limit, if you withdraw (idk the tos for paypal) a certain amount from paypal, you have to pay taxes.
People get around this by using paypal debit card, and withdrawing 400$ from it everyday.
Just checked, you have to file taxes on your paypal if you make more then 20 grand a year, or have made more then 200 sales.
dont quote me for it though, I just checked BHW
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