I am going freelance and I want to do everything properly and to my best advantage.
one thing I am a bit confused with is how paypal comes in to the 'tax' situation.
Obviously, when a sale is made you keep about 20% of each sale aside to pay for the tax assessment at the end of the tax year. Does paypal come into it anyway when you fill in the tax assessment? I havent filled in a tax assessment form yet so I dont know what it asks but I guess my questions is do you have to document paypal fee's etc in anything? like tax?
I hope i make sens, I'm new to this side of things.
one thing I am a bit confused with is how paypal comes in to the 'tax' situation.
Obviously, when a sale is made you keep about 20% of each sale aside to pay for the tax assessment at the end of the tax year. Does paypal come into it anyway when you fill in the tax assessment? I havent filled in a tax assessment form yet so I dont know what it asks but I guess my questions is do you have to document paypal fee's etc in anything? like tax?
I hope i make sens, I'm new to this side of things.