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Pay taxes on Adsense and PayPal earnings?

Discussion in 'Business & Tax Advice' started by Envyliciouz, Apr 5, 2012.

  1. Envyliciouz

    Envyliciouz BANNED BANNED

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    Hi,

    This is stupid but when I withdrawn money from ATM or receive money from adsense I simply get all money (wihout transaction fees but no any other taxes)

    Hell yea? Is legal to not paying taxes on money got like this? What do the people which makes six figures?

    Thanks
     
  2. deviatus

    deviatus Power Member

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    There's an income tax which you pay on your own, haven't you heard of that? Adsense reports to the IRS.

    You can make write-offs though, from what you pay for advertising, hosting, etc..
     
  3. Envyliciouz

    Envyliciouz BANNED BANNED

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    Yes I know that tax for health care and any other things paid to the state but do I have to pay anything additional on my earnings got from adsense or paypal? What do you mean about adsense to isr? I'm not in USA anyway.

    Thank you
     
  4. volund

    volund Senior Member

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    Since you are not in the US you probably need to check with your local tax laws but generally you have to pay taxes on any income you make. If you are a US citizen living outside the US you are still required to file and pay taxes. Obviously the smaller the amount the less chance you have a getting caught if you do not file and pay.
     
  5. CoyoteAssassin

    CoyoteAssassin Elite Member

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    We are supposed to pay taxes on ALL money we receive and report any extra money grandma may slip into our birthday cards.

    However, if it is less than $600, most companies will not provide the IRS with a 1099 and therefore, the only way they will know of the earnings is if you pay it.

    Seeing how a lot of money the government takes in goes to lazy people or it is wasted, I am in favor of limited the amount you report to the IRS. Having said that, if you are sent a 1099, you better claim it. If you collect 5k total across a lot of $100 jobs, its your call. For me, I'll take the unclaimed money and use it to pay the taxes on the 1099.

    Having said all of that... and here's the kicker... you DO want your income to be at a certain point. You may think that you are smart showing that you only make 10k in 2011 but when you go to the bank in June and try to buy a car and they see your tax statement, they may laugh and tell you that you do not make enough money. You need to take all of that into consideration before you file.

    "Work harder, millions on welfare are depending on you!."
     
  6. Roparadise

    Roparadise BANNED BANNED

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    Most if not all countries have a "All other income" source clause that makes any online income sources taxable.