WESTERN UNION----DO I NEED TO PAY TAXES FROM RECIEVING MONEY FOR BUYERS THROUGH Western Union?

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WESTERN UNION----DO I NEED TO PAY TAXES FROM RECIEVING MONEY FOR BUYERS THROUGH Western Union?

2007-05-05 11:33:25 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

3 answers

As Judy said, how you receive money makes no difference. What you receive money for determines if it is taxable.

2007-05-05 13:11:35 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

If you are selling items to people for profit (not just selling off old things of your own) then the income is taxable no matter how you receive the money

2007-05-05 12:00:10 · answer #2 · answered by Judy 7 · 1⤊ 0⤋

yes! You need to pay taxes on all money received, regardless of how the buyer paid you.

2007-05-05 13:21:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋