If you're in th U. S., taxes are owed on any net profit you earn, whether reported by PayPal or not. That means filing Schedule C for sole proprietorship business or another form depending on how you operate your business. It's best to consult a tax accountant for details on how to file your income taxes.
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Hello! I was wondering, if for example i link my documents (passport, id) to remove the limits, does paypal link them to my government? My question is, will i be taxed for the money from my account? (under $20K) These money are from YouTube, so i didn't give a report of them anywhere, will i have problems?
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