Hi, small back story…I’m under 18 and need to make a PayPal BUSINESS account to pay my suppliers. Since I’m under 18, my account has to be under his name and SSN. This brings me to taxes. I know that each time I send money to my supplier, it’s 1-3% of the amount I send. That percentage is taken out of the money sent and that’s the end of the story correct? Let me know if I am correct on this part.
However, I just saw that PayPal started a 600$ rule thing until you are reported to the IRS. MY QUESTION IS: If I ONLY use Paypal to move money from my bank account to the supplier—NOT as an option to pay with on my store, then the 600 dollar tax rule doesn’t apply in this situation SINCE it’s I’m technically not making money, I’m just moving it?