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PayPal and taxes.

Discussion in 'Business & Tax Advice' started by bixfox, Jun 1, 2014.

  1. bixfox

    bixfox Registered Member

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    Hello,
    Paypal is sending me $1,600 to my bank and I'm just wondering how much of that am I actually going to get?


    Thanks :)
     
  2. rabbitking

    rabbitking Jr. VIP Jr. VIP Premium Member

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    You will receive all of it since it is your responsibility as a sole proprietor to take out your own taxes. PayPal will send the information the IRS, but not take the taxes out for you like an employer would.

    -RK
     
  3. bixfox

    bixfox Registered Member

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    I don't have that IRS thing in my country.

    If I get all of it that is awesome :)
     
  4. HerpDerpSlerp

    HerpDerpSlerp Power Member

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    Then don't worry about it
     
  5. K.H.R

    K.H.R Jr. VIP Jr. VIP

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    Paypal dont charge anything. Bank can charge for the Tax its upto bank.