1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Tax question on getting paid under the table

Discussion in 'Business & Tax Advice' started by DFunny, Jul 8, 2009.

  1. DFunny

    DFunny Regular Member

    Joined:
    May 26, 2009
    Messages:
    282
    Likes Received:
    113
    I'm thinking about working for a cam whore AFN that my buddy is a member. I'm very confident I'd be able to earn $1k+ a week. But I'm a little concerned about that way the money is paid out.

    Earnings are payed out via paypal for "services". I get the impression that I'm not supposed to say anything about taxes. Is there anyway to pay taxes on what I earn without brings the AFN into all this?
     
  2. ineed$

    ineed$ Junior Member

    Joined:
    Jun 28, 2009
    Messages:
    197
    Likes Received:
    23
    just withdraw and keep your mouth shut :)
     
  3. wowhaxor

    wowhaxor Executive VIP Premium Member

    Joined:
    Apr 28, 2007
    Messages:
    2,021
    Likes Received:
    3,353
    Location:
    ?¿?
    Home Page:
    Why would you want to pay taxes if you don't have to?

    I try to do as much $$ as possible to my paypal and withdraw my ATM limit in cash so I can cut back on taxes.

    Note to IRS: I swear I am only worth $8.5K a year...
     
  4. DFunny

    DFunny Regular Member

    Joined:
    May 26, 2009
    Messages:
    282
    Likes Received:
    113
    And that has been working out fine for you guys? Do you make anything over the table?
     
  5. ineed$

    ineed$ Junior Member

    Joined:
    Jun 28, 2009
    Messages:
    197
    Likes Received:
    23
    we too gangsta to read......... much less pay taxes. (complicated yo) lol
     
  6. DFunny

    DFunny Regular Member

    Joined:
    May 26, 2009
    Messages:
    282
    Likes Received:
    113
    Okay but what if I still wanted to pay taxes on it could I?
     
  7. KHMNTCPR8

    KHMNTCPR8 Regular Member

    Joined:
    Sep 19, 2007
    Messages:
    358
    Likes Received:
    134
    give me the money and ill pay the taxes for u.... aha

    i still dont get why u WANT to throw your money away..


    my question: If I change my payment type from check to Paypal, does that change how much taxes I have to pay??????
     
  8. premiumsource

    premiumsource Senior Member

    Joined:
    Apr 20, 2008
    Messages:
    863
    Likes Received:
    1,164
    Location:
    Paradise Island
    Yes, you can still pay taxes if you wanted to but you do not have to yet. A few months ago I've talked to PayPal and they said that their money processing still isn't government controlled so it is totally up to you if you are going to report it or not.


     
    • Thanks Thanks x 1
  9. DFunny

    DFunny Regular Member

    Joined:
    May 26, 2009
    Messages:
    282
    Likes Received:
    113
    Thanks for the help! Do you know if I could pay taxes on it without bringing the AFN into it? Also, can I pay taxes on just some of it?
     
  10. adriver38

    adriver38 Registered Member

    Joined:
    Jul 28, 2008
    Messages:
    85
    Likes Received:
    19
    Occupation:
    E-pimp
    Just make sure they arent gonna send you a 1099 at the end of the year. If they do that means its being reported to the IRS.

    By "they" I mean the place you are working for, not paypal, sorry :)
     
  11. loclhero

    loclhero Supreme Member

    Joined:
    Jun 11, 2007
    Messages:
    1,453
    Likes Received:
    2,413
    Gender:
    Male
    Location:
    Copperhead Road
    WTF?? other than adriver38 you guys are all off base. Paypal couldn't give a fuck all about the money you make but the OP better be damned sure that the network he's making money with will absolutely send him AND the irs a 1099 at years end. anything over $600 a year is reported by the people paying you. You will not be able to "hide" shit.
     
    • Thanks Thanks x 1
  12. DrJekyll

    DrJekyll Senior Member Premium Member

    Joined:
    Aug 2, 2007
    Messages:
    831
    Likes Received:
    697
    Location:
    1-9 for your Keyword goodluck
    exactly, you will get a 1099 from your network which means PAY YOUR TAXES!!

    Now if you are selling ebooks on dp, the government does not have their fingers in them yet but did read they were trying to view transactions. I am sure it will come under money laundering/terrorist funding bill, and oh by the way we will cross referance for taxes.
     
  13. DFunny

    DFunny Regular Member

    Joined:
    May 26, 2009
    Messages:
    282
    Likes Received:
    113
    Gotcha. That's the thing, I think I'd sleep better at night knowing that I paid my taxes. Okay, lets just say that network DOESN"T send a 1099 at the end of the year, what then?
     
  14. premiumsource

    premiumsource Senior Member

    Joined:
    Apr 20, 2008
    Messages:
    863
    Likes Received:
    1,164
    Location:
    Paradise Island
    Yes, that is true. I thought that his friend is a member of the aff. site and that his friend will send him his part via paypal.

    But yes if you personally are a member of the affiliate network you will have to report it.



     
    • Thanks Thanks x 1
  15. DrJekyll

    DrJekyll Senior Member Premium Member

    Joined:
    Aug 2, 2007
    Messages:
    831
    Likes Received:
    697
    Location:
    1-9 for your Keyword goodluck
    You can file and pay taxes on it. Depending what form you file, you should have an option for misc. income ad it there, you do not need to prove it.
     
    • Thanks Thanks x 1
  16. RichUser

    RichUser Regular Member

    Joined:
    Jul 19, 2008
    Messages:
    296
    Likes Received:
    577
    Home Page:
    Everything should be reported. I know MANY people around my area that used to do good volume through Paypal and never reported. Now, they are all contacting accountants because the IRS found out. Paypal IS reporting to the IRS.
     
  17. adriver38

    adriver38 Registered Member

    Joined:
    Jul 28, 2008
    Messages:
    85
    Likes Received:
    19
    Occupation:
    E-pimp
    Pretty sure too that if you have a checking account in the US (no idea about offshore) if the amount is over $9999.00 at any point in time it gets reported by your bank to the IRS as well. So reguardless if paypal reports it, or you do or dont get a 1099, unless you get paid cash and hide it in a safe underground the IRS KNOWS you are making money and wants their cut. Better safe than sorry, even though paying income taxes really makes me stabby.
     
  18. wowhaxor

    wowhaxor Executive VIP Premium Member

    Joined:
    Apr 28, 2007
    Messages:
    2,021
    Likes Received:
    3,353
    Location:
    ?¿?
    Home Page:
    Considering my paypal account uses a nickname and has no social security number tied to it I highly doubt that PayPal is reporting me to the IRS. They aren't a bank, it is a bit different.
     
  19. RichUser

    RichUser Regular Member

    Joined:
    Jul 19, 2008
    Messages:
    296
    Likes Received:
    577
    Home Page:
    If that's the case, then your asking for a bigger shit storm.
     
  20. 7878

    7878 Executive VIP Premium Member

    Joined:
    Jun 14, 2009
    Messages:
    1,382
    Likes Received:
    7,864
    This is a fight you won't win. Just bite the bullet and pay your taxes. You might get away with it for years, but when they catch up to you you're gonna be hurting. ;)