answersLogoWhite

0

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.

User Avatar

Wiki User

10y ago

What else can I help you with?

Related Questions

Best free sites for online income tax?

http://taxes.about.com/od/preparingyourtaxes/tp/freefile.htm lists the top ten sites for preparing and submitting your annual income tax forms online for free.


What online services are available at Centrelink Payments?

There are hundreds of services available at Centrelink Payments. Some of these services offered are case coordination, financial information service seminars, and low income supplement.


Where can I find a free annual credit report online ?

There are several web companies that offer an annual credit report online. You may be required to take a trial period to complete the offer, but you can cancel any payments before they are deducted from your account.


Are orchard bank online payments legal?

Yes, Orchard Bank online payments are legal payments. Making online payments is faster, easier, and often more secure for both the person making the payment and the bank itself.


What was McDonald's total income in 2002?

Annual and financial reports for McDonald's are available online. The 2002 report is here: http://www.mcdonalds.com/corp/invest/pub/annual_rpt_archives/2002_annual.html. The company's net income for 2002 was $893,000,000.00.


Using Tax Online Calculators for Tax Estimation?

A tax online calculator can be particularly helpful for tax estimation for entrepreneurs and small business owners. The federal government requires that self-employed taxpayers pay monthly taxes, and an income tax calculator and self-employment tax calculator can both be helpful for tax estimation. Many of the self-employed make quarterly tax payments. Also, small business owners who have spousal income or income from additional jobs may use a tax online calculator to better plan personal finances. By estimating tax payments, taxpayers can set up a schedule for setting aside money for future tax payments or plan for a large, important purchase with an income tax refund.


How do I make estimated tax payments for 2022?

To make estimated tax payments for 2022, you can use Form 1040-ES provided by the IRS. Estimate your income, deductions, and credits for the year, then calculate your tax liability. Submit payments online, by mail, or through electronic funds withdrawal. It's important to make timely payments to avoid penalties.


Where can I find free annual credit reports online?

You can get free annual credit reports online from www.freecreditreport.com.


What can one do with Google payments?

Google payments are made from the app, or website Google Wallet. From here, one can shop online, send money, or receive payments for goods and services online.


Where can one find an annuity payments calculator online?

One can find an annuity payments calculator at a number of places online. For example, DGI Direct, RBC Insurance, Bankrate, and Legal and General all have annuity payments calculators online.


How do you do an income statement if all expenses were collected in cash?

Do you mean that all expenses were PAID in cash? If so, you need to figure out how much cash went out (for the Expenses portion of the income statement) . For the cash outflow amount, you have to create a schedule of the vendors you paid and what goods and services you paid for. Use invoices and receipts and bank statements (for online payments you made). Then categorize the payments by type of expense.


What is the demographic of the online shopper?

By 2003 online shoppers represented a broader demographic, with an average age of forty-four years and an average annual household income of $65,000. Of these shoppers, 50 percent were female and 50 percent were college graduates.