A community of 30,000 US Transcriptionist serving Medical Transcription Industry

CANANDIAN COMPANY PAYING U.S. IC - Hanging On

Posted: Jun 15, 2015

Random question. If a company located in Canada pays someone in the US (via PayPal), do taxes have to be paid? Does anyone else have an arrangement like this?

Let me rephrase this for you, lol - sm

[ In Reply To ..]
It makes no difference where the company that pays you is located, your town, your state, another state, another country. YOU pay the taxes.

If you earn it, you pay.

Info RE: Payment via Paypal - sm

[ In Reply To ..]
The problem I'd have with being paid via PayPal is that PayPal, if I'm not mistaken (somebody correct me if I'm wrong, please), will take a fee from the amount paid each time you're paid. I'm not sure what the amount of the fee is, or whether it's a set amount or a percentage, but either way, I'd much rather be paid via direct deposit than via PayPal because of that.

...and yes, you'd be responsible for reporting your income and paying income taxes if you earned enough in total for the year.

There's no fee when they pay with - justright

[ In Reply To ..]
Their PayPal balance. There is a fee (0.30 plus 2.9%0) if they pay using a credit/debit card. They can chose to pay the fee or pass the fee onto you. Most of my clients who pay using PayPal pay the fee. Those that don't, cover the fee in the payment they send me, well except for one and she's a bit of a character.

As an IC being paid with PayPal - Old Anon

[ In Reply To ..]
any fee you'd pay to PayPal would be a tax write off/business expense on your tax return when filing, so there would be a little bit of an offset.

don't forget - that there is

[ In Reply To ..]
a fee for transferring to your own bank account, as well. If you want PayPal to send you a check, there is a charge for that also, so no matter what you do, there is a charge involved with it. Unless you want to leave your money in the account and pay your bills from it... then it is a charge for everything you pay from there, as well.

No charge - Long Time MT-NY

[ In Reply To ..]
There is no fee to transfer to your bank account. I do it all the time with my small craft business.

Well, that is - a bold faced lie

[ In Reply To ..]
Every time I need to transfer money to my account, there is a charge for it. I don't think we are using the same PayPal

I've never paid a fee when transferring to my bank account - justright

[ In Reply To ..]
Withdrawing money:

You can withdraw money from your PayPal account to your bank account at no cost. If you prefer to receive a check, there is a $1.50 fee.

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