Tax question on getting paid under the table

DFunny

DFunny

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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?
 
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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...
 
And that has been working out fine for you guys? Do you make anything over the table?
 
we too gangsta to read......... much less pay taxes. (complicated yo) lol
 
Okay but what if I still wanted to pay taxes on it could I?
 
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??????
 
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.


DFunny said:
Okay but what if I still wanted to pay taxes on it could I?
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premiumsource said:
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.
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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?
 
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 :)
 
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.
 
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.
 
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?
 
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.



loclhero said:
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.
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DFunny said:
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?
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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.
 
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.
 
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.
 
RichUser said:
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.
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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.
 
wowhaxor said:
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.
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If that's the case, then your asking for a bigger shit storm.
 
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. ;)
 
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