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BHW Service Owners. Do you pay taxes?

Discussion in 'Making Money' started by Godziwa, Aug 28, 2014.

  1. Godziwa

    Godziwa Regular Member

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    Hi guys,

    I want to know if those who open Services on this forum and reside in the U.S pay taxes for their services? If they do, do they set it up or is it done automatically on Paypal?
     
  2. antichrist

    antichrist Jr. VIP Jr. VIP

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    Yes I pay taxes, do not fuck with the IRS. BST is income, and anything you pay workers or outsource is an expense.
     
  3. Reyone

    Reyone Elite Member

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    If you don't pay taxes, chances are you'll go to jail, so choose wisely and enjoy the road.
     
    Last edited: Aug 29, 2014
  4. Asif WILSON Khan

    Asif WILSON Khan Executive VIP Premium Member

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  5. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

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    What you need to learn is tax avoidance and not tax evasion. For example registering a business in Hong Kong and taking loans out.
     
  6. remingtonbt532

    remingtonbt532 Registered Member

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    Even if someone is evading taxes I don't think they will tell here. BHW is not promoting breaking the law so if you choose to do so do it at your own discretion.
     
  7. Adrian112

    Adrian112 Supreme Member Premium Member

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    I'm from Bosnia, so, FUCK YOU TAX. :D
     
  8. techblog

    techblog Jr. VIP Jr. VIP

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    learn to give back! PAY TAX!!
     
  9. Tom Baker

    Tom Baker Registered Member

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    You wont go to jail, trust me... I have been audited a few times, I had situations were 1099s for consulting work were submitted to the IRS but not to me. These are all things Not related to this world. In the past I did get some legit 1099s from cj or someone back in the day. One thing to also know for you guys out there. If you settle credit card debt the IRS counts that as income on the difference. I am not going to argue how dumb that is...

    But short answer, they will send you a bill. They will tack on huge penalties and fines. If you ignore that then they take any money out of your checking account, if that dont work they make your work take it out of your check.

    Keep in mind the interest on their payment plant is insane, calculates around 30%apr. Its like 2%apr for each month they are behind.

    My first time, I was getting giftcards thru my work, but they were getting sent from the company whose product we sold. It was a sales reward program, sell 1 blue widget - get $2, sell 1 red widget get $5. Needless to say I got just under 25k in gift cards. The people in my office around the same. We never got 1099s and didn't think shit about it. Few years later, BAM BAM you owe us 4k. I was able to get it around 2k. Same happened eventually to everyone.

    Side note, Paypal loves to hand info to the IRS.
    I remember paying $50 min payment. Interest was around $90. Keep in mind you don't have to report anything under $500 or $600.
     
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  10. Tom Baker

    Tom Baker Registered Member

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    I have no problem paying taxes, its how much is under debate. You work hard, do extra in life, only to make a tiny bit more, but only to pay 2x in taxes. You add up all the taxes we pay in the course of a month, it is kinda crazy.

    I am just saying it would be nice if it was dialed back a bit. Then again if you have kids you get tax credits, and alot of other stuff I cant ever take.

    Advice save all your receipts and deduct everything you can.
     
  11. zebrahat

    zebrahat Elite Member

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    Most Americans are not under a positive law (binding on all) requirement to pay or file, the income tax is (mistakenly, or fraudulently) simply misapplied to them due to presumptive paperwork or procedures that mis-characterizes their status. That's my tax honesty take on the matter and I'm sticking to it, and it's worked for me for 14 years. As pointed out many times before, over 65 million don't file at all each year, yet only 2,200 get prosecuted for alleged tax evasion, so it is inaccurate to throw "don't pay, go to jail" scare rhetoric out there. See SEDM.org for (often technical) details.

    The Internet permits a path a least resistance route to bypassing the presumptive misapplication, where you don't have to submit to the biased paperwork, privacy-destroying transaction tracking, or information reporting that leads to the mis-characterization in the first place. Using stealth accounts, non US addresses, cryptocurrency, keeping accounts and assets not in your name, earning below $600 per an account, avoiding use of an SSN/TIN, and other measures circumvents the circumstances that lead to the administrative creation of a tax liability in the first place.
     
    Last edited: Aug 29, 2014
  12. innosoft

    innosoft Jr. VIP Jr. VIP Premium Member

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    you do have to pay your taxes.
     
  13. john1444

    john1444 Elite Member

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    In the U.K i learnt they tax you to your pant, nothing is free. In other words everything is taxed and BHW has a U.K root.

    Ofcourse U.S resident too pay tax, you don't want to rot in jail do you. That's why paypal ask you to provide your IRS details on business accounts.
     
  14. Apricot

    Apricot Administrator Staff Member Moderator

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    If you are avoiding tax, you are very silly.


    "'In this world nothing can be said to be certain, except death and taxes." - Benjamin Franklin (1706-90)

    Brilliant.
     
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  15. ija61

    ija61 Senior Member

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    A suggestion for the OP... If you are really interested in this then you should mention a country.

    There are country where you can avoid tax for online income without any risk, in some this involve a risk and in some even if you want you can;t due to the lack of legislation.
     
  16. zebrahat

    zebrahat Elite Member

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    "My hopes are greater than your certainties." - The Doctor (Doctor Who)

    ;)
     
  17. Godziwa

    Godziwa Regular Member

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    I am talking about the United States.
     
  18. AnthonyCorleone

    AnthonyCorleone Jr. VIP Jr. VIP

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    in U.S. every bank include paypal will report you to IRS if you made more then 10k in a year and you do have to pay tax some states have only 1 tax other have 2 or more then that is scales on 50-60% of incomes goes to IRS

    if you don't pay they will empty your bank accounts and close them for you and if you use paypal then you can loose that paypal account forever and never can use them under same name, they also will visit where you leave and take everything you own car, house, electronics, furniture and so on if you didn't pay tax even if you owe 8k and your house worth 200k they will still take that

    and the country's that's don't have regulated taxes as in U.S. they having other problems such as working with U.S. banks or using paypal for accepting money

    in U.S. there's taxes for income then property tax then state tax some have city tax then tax applies to everything you buy tax for lottery's if you win something and so on the list huge and almost everything taxable

    they also have audit program is when they randomly pick people and recalculate them taxes for past 5-10 years and in most cases it ends up making you pay way more then you should be paying

    also if you got deposits/transfers/purchases for amount of 10k or more they will also by law requires to report that transaction to IRS i found out that when i when to buy my car with cash they told me put only down 9.5k and the rest get finance which ends up not bad idea as i build my credit score sky high :)
     
  19. Godziwa

    Godziwa Regular Member

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    Oh my god. These taxes are literally making me pull my hair like a mad man. Thank fully, someone referred me to turbo tax and I am talking to them. Thanks for your help thus far.
     
  20. AnthonyCorleone

    AnthonyCorleone Jr. VIP Jr. VIP

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    if you made more then 10k don't even consider using them you will pay more then you need to my suggestion go to craigslist or yellow pages find privately own person who do taxes and he will get you good set up as most of those company's work by hourly and they simply don't gave a s**t about u or ur taxes while private own people who help other fix taxes in most of the time they will do anything to gave gov. less + they do a quality good job so you can return next time to them
    + they will be cheaper just flat rate while company's go based on amount $ they dealing with

    but if you just filing 1 pace a paper from your day time regular job then turbo tax good enough

    EDIT: also writhe thinks of as your internet bill, food that you eat in office, writh office off if u have 1, writhe anything and everything that's you purchased/used to make this cash, you can with mileage on your car if you used for transportation laptops that's you purchase to do online work all the disputes, charebacks etc.. from paypal all them fees and so on anything that cost u $ even electric bill to make those $ can be writhed off
     
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    Last edited: Aug 29, 2014