MMTMYstic
11-15-2017
09:23 AM
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Taxed on earnings for $530?
Hi,
New to square, so my apologies if this has been answered elsewhere (did a search...no threads found).
Am I required to report or pay taxes on a one-time transaction for $530? This is an individual use (non-business) transaction and will be the only Square transaction for the year. It is for a a non-tangible service.
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RHatch
11-15-2017
10:07 AM
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What is your question. Square doesn't do anything with sales tax on sales, that is your responsablility. If the service provided requires no sales-tax in your location then you are fine. This is more of an accountant thing.