What just happened to accepting Paypal?? looks like they are trying to drive us away

Giggsy


Friends and Family remittance is still an option on a Business PP account.

Good Listening

Peter

When one switches to a business account, it opens up the possibility of IRS looking at our sales as income....and thus legally reportable when filing taxes, and obviously subject to federal tax, as well as state taxes.

It's considered income regardless. : )

I think its like the sales tax thing, one day it shows up and we have to pay sales tax on everything.....I think this is a path for the IRS to track your transactions for the purpose of taxing us as "Business" people earning income.......First its yard sale money and now its business income..........What else could you call it ??  I think it started when the "big" stores came in like the Music Room, and other big dealers in used audio and made it big business ........... Will

David, PP only reports our sales to the IRS if you have 100 sales and a significant total of around  $50,000. in a year, I believe. It might even be 200 sales....but you have to reach both categories to be reported. Having a business account seems to mean it's income from a "business" no matter how limited.