Question by sb_st2004: Do I have to pay taxes if I have large amount of deposited in Bank of America?[Part 2]? I want to thank you for your answers...
Question by sb_st2004: Do I have to pay taxes if I have large amount of deposited in Bank of America?[Part 2]?
I want to thank you for your answers in my first question.
Here, I just want to explain that the source of the income, so you can understand and help me easier.
I have a friend in Vietnam. He’s trying to sell stuff on ebay but PayPal in Vietnam doesn’t really work and not everybody have Credit/Debit card also.
So, he wanted to borrow my PayPal and start selling things on ebay and amazon, and at the end of the month, I’ll help him send the money in PayPal to him.
**First: The money in PayPal which is transfer to my Bank is not 100% income (you need to minus this to the capital money to get the income, right?)
**Second: This is not my money, this is his money. Although I know I have to have responsibility for the money in my account >.< -------- So, what do you say? ... I hope my situation is not really complicated.
Answer by stan c
Bad idea. Never get involved with friends or family when it comes to money. At the end, you will get burnt.