Paypal/Electronic payment rules from the IRS

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cyclingday

I'm the Wiz, and nobody beats me!
I have a lot to say on this subject, but it’ll just get deleted.
At some point it’ll be like the poor guy that kicked off the Arab Spring in Morocco, who set himself on fire, because he couldn’t make a living selling Oranges anymore due to the over burdensome taxation.
A lot of people were killed throughout the region, in the aftermath of igniting that one little fuse.
Just one more card on the stack, and eventually will all come tumbling down.
 
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pelletman

I live for the CABE
1099's apply ONLY to US PERSONS withholding US source income for a foreign entity. Look at the W9, every time you sign one with an unrestricted signature you are claiming you are a US PERSON. Are you?


Are you an employer
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Are you a Withholding agent
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Do you have employees
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"Withholding Agent", means any person, U.S. or foreign, that has the control, receipt, custody, disposal, or payment of an item of income of a FOREIGN PERSON subject to withholding, 26CFR1.1441-7”
"U.S. Person", an American citizen or domestic entity that is involved in or serving as the intermediary, flow-through entity, or a financial pipeline through which U.S. source income flows to its FOREIGN destination. T.D. 8734”
#DRN #KjnjiteParalegal Kinjite Paralegal
Www.KinjiteParalegal.Com
 

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pelletman

I live for the CABE
More info here, but understand when you sign a W9 you are claiming, under penalty of PERJURY you are a US PERSON. Are you sure you are?


Also good info here "The sole purpose of the 16th amendment was to remove the apportionment requirement from incomes that were OTHERWISE TAXABLE."
SC v Baker SCOTUS 1988 What "income" was taxable PRIOR to 1913 when the 16th was allegedly ratified?

 

Nashman

Cruisin' on my Bluebird
I can't understand how many times an item can be taxed when it's used to begin with .
Being a proud Canadian that I am ( really) we get shafted BIG time on imports and are taxed beyond belief. Anything over $50.00 used or not. If you travel and stay over a period of 48 hours or so ( see below) you can spend a bit more.,

On imported items it usually contains a "handling charge" with the Postal system ( carriers like Fed Ex and UPS use a Broker and they REALLY nail us on fees!) as well that in the long run, all adds up to 15% added to the cost of goods. Ok, we have universal "health care" but unless you are literally bleeding to death, take a number. Emergency ward waits can be 12-24 hours, elective surgery months to years, and so on.

As has been said, the items I ( we buy hobby related) buy are usually vintage and have been taxed at least once when they were new, then depending on how many more times it's been sold, well that's just a tax grab. We have a .65 dollar compared to the U.S. dollar, so they convert the U.S. value to Canadian funds before they calculate the hit. So if I but something for $100.00 U.S. funds, it's calculated on $135.00 Cdn. It's hard to get off the hamster wheel of madness!

Free trade? Not for the little guy. If you ever travel to Canada, most of it is beautiful, but gasoline, booze, and food are at least 25-50% higher in most cases than the U.S. . Sure, I get it. We are WAY smaller. There are more people in the state of California that all of Canada. We are usually friendly and easy going. Some of us are not too sharp, like the Oil and Gas companies that ship unrefined petroleum south to get refined, then we pay the piper at the pump. Makes me thirsty just talking about it!
1629704




Returning to Canada​


24-48 hours in the U.S.:


  • $200 CAD worth of goods per person
  • Excludes alcohol and tobacco - these are subject to duties and taxes

48+ hours in the U.S.:


  • $800 CAD worth of goods per person
  • 1.14 litres (40 ounces) of liquor OR 1 case of beer (24x355ml cans/bottles) OR 1.5 litres of wine
  • Plus 200 cigarettes (1 carton); 50 cigars; 200 tobacco sticks and 200 grams of manufactured tobacco

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