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Paypal account and taxes?

Discussion in 'Black Hat SEO' started by samiejg, Feb 12, 2017.

  1. samiejg

    samiejg Senior Member

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    If I get a bunch of money to my Paypal account, but I don't withdraw it to my bank or anything like that, will I be able to get away without paying taxes on it? :p

    Like.. when it comes to paypal, is there ever anything to worry about?
     
  2. SEOking222

    SEOking222 Jr. VIP Jr. VIP

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    All paypal solutions available :) Hit me back over skype or PM - Let me help you :)
     
  3. samiejg

    samiejg Senior Member

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    uh.. sorry :p Maybe I didn't explain properly.

    I don't need any Paypal services. I'm just wondering if there's anyway the government can track money in my Paypal account. Like say hypothetically if I made 100k in 2017, if I just left it in my Paypal account and bought random stuff with it, made sure NOT to withdraw it into my bank account, would the government ever have any idea that the money existed? (and try to tax me on it?)
     
  4. jadezoole

    jadezoole Junior Member

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    It depends, in what country you are located.
    Paypal may send banking information to your tax authorities.
    For the best of my knowledge it works only in US over a certain threshold.
    Please be aware your online income is taxable. Remain on the safe side.
     
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  5. MatthewGraham

    MatthewGraham Regular Member

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  6. Carl Anderson

    Carl Anderson BANNED BANNED

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    Country ?
     
  7. samiejg

    samiejg Senior Member

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    Interesting stuff. I'm actually from Canada. When you say "goods and services", would companies like Clickbank and OGads/CPAGrip all be factored into that?
     
  8. MatthewGraham

    MatthewGraham Regular Member

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    Presumably anyone who pays you for anything via PayPal would be included. The "family and friends" option might not be included.
     
  9. the_demon

    the_demon Jr. Executive VIP

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    If your PayPal account is in the US then yes you need to report income. PayPal automatically forwards earnings details to the IRS as someone above mentioned.