PayPal does not withhold taxes from any payments processed through them. You are responsible for reporting this and any other income you have like this on Schedule C of your 1040 tax return.
PayPal is synonymous with online payments. Many of us will have a PayPal account and will often use it to buy things on the net. online poker rooms that are now beginning to accept payments from PayPal. While a majority will still not take payments from PayPal.
When you use PayPal to complete on-line payments, PayPal gives the money to the seller immediately, then recovers the cash from your linked bank account. The purchase is immediate - but the funds recovery might take a few days, depending on how fast your bank works. On your bank statement - any payments to PayPal will show up as 'PayPal debit' - instead of the name of the company you bought goods from.
You can pay for a purchase from Lowe's with PayPal if you have a PayPal debit card. The debit card has a MasterCard logo and when you use it, the funds will come out of your PayPal account.
If you have paid by Paypal as a recurring payment then you can cancel it through Paypal - go into your Profile and you can find a list of recurring payments and cancel it from there.
Unfortunately not. See the related link to Amazon - it lists their accepted methods of payments.
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Not out of your taxes but they will take it from your tax refund. If you are on time with your payments and are not in default, they will not take your refund. The only way this will happen is if you are in default, then a lien will be placed on your tax refunds.
One of the easiest and most widely used methods is PayPal. You can sign up for a business account which will allow you to accept credit card payments online.
PayPal payments are instant, regardless of the country of the sender and receiver of the money. The exception is when an "echeque" or "echeck" is sent. These can take around 10 days to clear to the recipients PayPal account, so make sure not to select the "echeque" option when choosing the fuding source.
You don't 'have' to have an account associated with it. If people pay you with paypal payments, then you'll have a positive paypal balance to pay other people with. But without having an associated bank account or credit card, you'll suffer various restrictions on your account, and also it might take much longer to turn the paypal balance into cash in hand or transfer it to a bank account.
Generally speaking, no, but in the following circumstances they can: If you have your eBay seller account set up to make automatic PayPal payments for your selling fees, eBay will take the money from your PayPal when the fees fall due. If you sell something and the buyer claims that it didn't arrive, you need to provide proof that the item was delivered, otherwise PayPal will side with the buyer and refund them from your account. If you sell something and the buyer claims that they didn't receive it and they paid with their credit card (through PayPal), you could be subject to a "chargeback" and in this case, yes, PayPal might well take money back from you. To keep yourself as safe as possible from potential chargebacks, you need to make sure that you follow PayPal's Seller Protection Policy to the letter. Log into your own local PayPal site and search for "seller protection" to see what you need to do.