Just wanted to say a simple Thank You to the Developers of Minion! I've never been so excited to pay taxes from a hobby like gaming and botting :) This year I got audited on Paypal for making well over 20k ( 20k is the lowest amount where you have to report and pay your Paypal taxes btw) from ffxiv alone. I owe that credit to the great bot you have provided, and the great resources that allow the combination of this tool with others. Thanks for the hard work, the endless hours of coding, and the tireless nights of answering questions.
I would also encourage anyone else that is making more than 20k on Paypal to report your taxes. Don't want it to come back and bite you in the butt.
Happy Botting~
i didnt know paypal audited you, well good to know lol
Well, it wasn't paypal per say, it was the bank I'm buying another house with! I had to provide a lot of information, and found out by the auditors (under writers) that paypal is suppose to report all extra income over 20k worth. If you are under that amount you're fine. If you are over it, you have to report it on your taxes.
I even had to provide all my Western Union transactions because it was income coming into my bank account and all my paypal deals, needless to say, it was quite the headache lol
How are things going for ya on balmung Ham?
its 20k + 200 transactions of "goods and Services"
if you dont have both then you are fine, if they send the money to you as "friends and family" that is considered a "gift" which doesnt have to be claimed when buying a house.
materia markets have been crashing as expected but im still making decent money from that, just not crazy amounts as before lol
(05-07-2015, 12:26 AM)Cichard Wrote: [ -> ]its 20k + 200 transactions of "goods and Services"
if you dont have both then you are fine, if they send the money to you as "friends and family" that is considered a "gift" which doesnt have to be claimed when buying a house.
Mr. Know it all tries to strike again! (Seriously get off my post nitwit) This is a Thank You thread, not an all Hail Jackie thread! There is a reason it's to the developers and not to the poor customer service you provide. Seriously you are getting irritating!!! lol I suggest you do more research! Provide your links as well!
Under the legislation, we'll report to the IRS the total payment volume received by US account holders whose payments exceed both of these levels in a calendar year:
US$20,000 in gross payment volume from sales of goods or services in a single year
200 separate payments for goods or services in the same year
IRC Section 6050W applies to all payment processors, including PayPal. Our goal is to help PayPal sellers understand and comply with the new requirements.
Gifts can be considered services if you are audited and can't provide where 20k has come from. Trust me! I KNOW! It already happened to me lol... obviously Jackie you don't make enough to worry about it lol I dare you to try and claim 20k worth in gifts to an auditor lol
Also if you are purchasing a home you have to provide full tax returns for the last 2 years. And, reported all income. If you are obviously over the 20k mark, yes the under writer will ask for it when you are buying a house!
~Ham Materia sales have been slow, BCIII and Master Demi still been hot cakes though~
Selling accounts or gil? Curious.
(05-07-2015, 01:43 AM)sorun Wrote: [ -> ]Selling accounts or gil? Curious.
Gil, Accounts, Services, Items, Powerleveling, etc.
Don't forget your soul :p
(05-07-2015, 01:52 AM)Sazabi Wrote: [ -> ]Don't forget your soul :p
lol, this isn't even my 8 to 5er :P (besides, we all know we only use souls of blm anyway)