Comments on: Why You Should Consult With Professionals Before Seriously Selling on eBay http://www.lizardwisdom.com/consult-with-professionals/ eBay PowerSeller Tips for Successfully Selling on eBay Tue, 11 Nov 2008 15:08:20 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Lizard Wisdom http://www.lizardwisdom.com/consult-with-professionals/comment-page-1/#comment-62 Lizard Wisdom Wed, 24 Oct 2007 19:44:13 +0000 http://www.lizardwisdom.com/consult-with-professionals/#comment-62 That is a very good question regarding whether or not PayPal reports income to taxing authorities. As far as we know, they do not do it voluntarily. It is our understanding that eBay, and we assume PayPal, will only give up this kind of information under court order. If our memory serves us correctly, eBay Australia (and Canada?) recently announced that they are turning sales records over to the Australian government. It just goes to show that the potential is always there to have your eBay, and potentially also PayPal, dealings exposed to the government. This is one of the many reasons that we suggest you take your selling on eBay very seriously and treat it like the business it deserves to be. That is a very good question regarding whether or not PayPal reports income to taxing authorities. As far as we know, they do not do it voluntarily. It is our understanding that eBay, and we assume PayPal, will only give up this kind of information under court order.

If our memory serves us correctly, eBay Australia (and Canada?) recently announced that they are turning sales records over to the Australian government. It just goes to show that the potential is always there to have your eBay, and potentially also PayPal, dealings exposed to the government.

This is one of the many reasons that we suggest you take your selling on eBay very seriously and treat it like the business it deserves to be.

]]> By: whydowork http://www.lizardwisdom.com/consult-with-professionals/comment-page-1/#comment-61 whydowork Wed, 24 Oct 2007 19:12:07 +0000 http://www.lizardwisdom.com/consult-with-professionals/#comment-61 Does PayPal co-operate with local governments on reporting income? I've always felt like its sort of a black hole. Personally I've always seen Paypal as "funny money" since the paper trail for where the money came from for a specific transaction can be quite long. Does PayPal co-operate with local governments on reporting income?

I’ve always felt like its sort of a black hole.

Personally I’ve always seen Paypal as “funny money” since the paper trail for where the money came from for a specific transaction can be quite long.

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