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OT: Accepting PayPal for Payment. - Which Type of Account...?

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01-08-2009, 06:26 PM

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OT: Accepting PayPal for Payment. - Which Type of Account...?

Posted By: Andrew S.

If you are going to make that much per month thru PayPal it will automatically be reported to the IRS. Also, you will pay the highest rate of capital gains tax on that amount. Around 38%. And if you forget to list it on your next 1040 form as income, prison ain't much fun.

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