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  #1  
Old 03-03-2005, 03:30 PM
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Join Date: Mar 2005
Posts: 2

international paypal transfer

What is the name of your state? my bank account is in texas. but i live and work in costa rica.

i run a tour business in costa rica and would like to offer paypal as an option to accept credit cards online. the money would be deposited in my paypal account. it is only possible to withdraw the money from the paypal account to a u.s. account. i am a u.s. citizen and still have an account in the u.s. would i have to pay federal income tax on the money transfered from my costa rica paypal account to my texas bank account?

thank you,
jayhutch13
  #2  
Old 03-03-2005, 04:46 PM
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Posts: 1,848
You have to pay income tax on all money you earn, regardless of where in the world you earn it, or where you keep it on deposit.

Snipes
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This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
  #3  
Old 03-04-2005, 09:09 AM
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Join Date: Mar 2005
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so if i am living and working in costa rica, i am still suppose to be paying federal income tax in the united states?
  #4  
Old 03-04-2005, 06:13 PM
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Join Date: Aug 2003
Posts: 1,848
Yes. There is an exclusion you can possibly take, but you are still required to file if your income meets the filing requirements for your marital situation.

Snipes
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This post does not create an agreement to represent you before the IRS, nor does it invoke confidentiality regulations. Postings are based only on the information provided and you should consult a tax professional in your area before relying on information contained in this post.
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