do u have to pay tax??

Discussion in 'General Business' started by lambda1, Jul 31, 2008.

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  1. #1
    do u have to pay tax if u get 600$+ thorugh paypal??how should u pay tax actually??i mean whats the procedure and how much do they charge for every 600 $.
     
    lambda1, Jul 31, 2008 IP
  2. anhalo

    anhalo Guest

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    #2
    I think u only have to pay it if your over 16 and it was acquired through business, then you legally have to register for a VAT number to your appropriate country which costs about 50 pounds I think.

    Hope that was useful,

    Anhalo
     
    anhalo, Jul 31, 2008 IP
  3. Barefootsies

    Barefootsies Well-Known Member

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    #3
    Wrong toots.

    If you make over $600.00 profit (even in gambling, under the table 1099 contracted labor, or sale of a car for example) you are required by law to report it and pay taxes.
     
    Barefootsies, Jul 31, 2008 IP
  4. latoya

    latoya Active Member

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    #4
    IRS.gov has the answers to all your tax questions.
     
    latoya, Jul 31, 2008 IP
  5. lambda1

    lambda1 Well-Known Member

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    #5
    i am from india by the way.
     
    lambda1, Jul 31, 2008 IP