puppylover
Junior Member
What is the name of your state? CA
My friend, who has a business in Asia, asked me if I can help her act as the 'purchasor' and 'receiver' of some products she would like to purchase from the US. Apparently the company selling the products only ships to within the US. So what she's proposing is this -- she'll wire the $$ needed for the purchase into my US bank account, which I will then use to pay for products. Upon my receipt of the products/goods, I will then ship them over to her in Asia.
My question is, am I setting myself up for any tax liability (or any other forms of risk) in this scenario at all? The total amount that will be wired to my bank account would be under $100,000.
Thanks in advance!
My friend, who has a business in Asia, asked me if I can help her act as the 'purchasor' and 'receiver' of some products she would like to purchase from the US. Apparently the company selling the products only ships to within the US. So what she's proposing is this -- she'll wire the $$ needed for the purchase into my US bank account, which I will then use to pay for products. Upon my receipt of the products/goods, I will then ship them over to her in Asia.
My question is, am I setting myself up for any tax liability (or any other forms of risk) in this scenario at all? The total amount that will be wired to my bank account would be under $100,000.
Thanks in advance!