Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 2 years ago

how do i pay tax with paypal?

I get paid through paypal. I just turned 18 and I have no idea how to pay tax or anything. My parents say I need to receive checks in order to pay tax.

But I believe I can pay tax through paypal but i dont know how?

8 Answers

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  • 2 years ago

    You don't pay through paypal, but you owe on the income you receive through paypal.

  • 2 years ago

    PayPal now offers a debit card.

    NO tax collector accepts PayPal as such, but if they accept MasterCard, they don't care if it is a PayPal card or a bank issued card.

  • 2 years ago

    First, you get a debit card from PayPal. Next, you go to Official Payments Corp and pay your tax using the card that is linked to your Paypal account. There is a fee for doing it this way; your parents way is smarter.

  • 2 years ago

    If you have a Paypal debit card you can pay with that.. You could also get cash and buy a money order.

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  • 2 years ago

    Has nothing to do with how you get paid, its the amount you get paid.

    You need to take money out of paypal to pay your taxes, but you should be able to know how much you go paid and calculate your tax exposure accordingly. If you need help, tax preparers and accountants exist for a reason.

  • Judy
    Lv 7
    2 years ago

    For federal income tax use form 1040 and schedules C and SE. State and local forms are different depending on where you live. And your parents are wrong on this - if you make over $400 for the year, you MUST file federal.

  • 2 years ago

    Paypal is overrated, trust me.

    I personally use Visa Debit Card because... Well, everyone accepts Visa all across the globe, duh!

    And what else, my bank also allow me to pay my utility bills and other awful lot of things via their app and website.

  • 2 years ago

    Your obligation to pay taxes is not based on age or how you are paid.

    It is based on your income.

    If you are selling things online for profit, you would be required to pay taxes if your net profit for the year exceeds $400.

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