Depression Support Group

Depression is a real and debilitating condition that is often misunderstood by family and friends. Its meaning can range from a prolonged period of sadness to an actual mental illness with specific symptoms. Find and share experiences with others who are going through the same struggles.

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dumb as a box of rocks. HElP!!!

meandthebeast
meandthebeast
I know I have not been here as I have been so tied up with my own woes, especially since Bill has died... But I have got myself in a horrible situation and wonder if anyone can help me... Now what I am about to tell you is not a *brag* just a true fact and I am going crazy over it..

My ex died a long time back which the older members here know, He left me a small fortune that I should have set on and let it grow interest.. I did pay off my house and am so happy for that as most everybody has money woes and I would not have had any if I would have played safe.

To make a long story short, when I am manic from bipolar, I buy hoards of jewelery on ebay and then get guilty and resell it back on ebay. It keeps me busy and out of trouble with my wandering thoughts.. Ok here is the point I am getting at.. I work a real job and made $33,000. Well paypal, that is who takes care of the money that I buy and sell on ebay, and they sent me a 1099 for sales last year of $77,000.. I just about shit my pants as it comes in small lumps and I did not know it was that much as I spend it as fast as it gets in my acct. I do not have any money to pay taxes on this as I tied all that money back in more jewelery.. What am I going to have to do? I have no records and paypal will not give me my records.. I send out items for free shipping and that cost me an arm and a leg and then ebay takes so much of your earnings? Am I going to go to jail for not paying taxes? Some one please help me.. I swear I am going nuts and I have anxiety so bad I cant quit crying.. What is going to happen to me? Please help anyone please!!!! I am so overwhelmed....beastie
repoman1
repoman1
Hugs .
deleted_user
deleted_user
Think you need a accountant. However you might get that advice online. There might be some websites that would be able to give you some idea but check that they know your areas laws.

.
Community LeaderWanderingVet
WanderingVet
Well, ... it's not good, .. but not as bad as you may think. You are not going to jail (unless you were fraudulent).

Paypal is simply reporting to you AND IRS that last year, you did $77,000 in GROSS sales last year. Now, ... you must claim that INCOME on your tax return (along with all other income). THEN ... you establish DEDUCTIONS ... and the difference is what you pay in taxes.

The problem is in determining deductions. Going to be hard to do with no records. Also .. unless you are an established and legitimate BUSINESS .. you cannot claim that you paid $2,000 for a ring and sold it for $1800 and claim the $200 as a loss. You probably can't claim costs of shipping as a business expense either.

I am not a tax expert ... but you need one. You need a consultation with a Tax Attorney ... and then PROBABLY a retainer. It may be 'bad' but usually it turns out to not be as bad as it looks ... but you must get an attorney ... quickly.
Community LeaderWanderingVet
WanderingVet
>> your areas laws.

Good point. You are probably liable for STATE income tax as well. Get a lawyer.
deleted_user
deleted_user
Ditto to repoman1 (hugs)

Chances they will take into account you where ill at the time.
deleted_user
deleted_user
You are NOT as dumb as a box of rocks or whatever. What is going on is that you might not know about tax laws and such.

Talk to someone who knows about taxes/financial literacy and such.

You are concerned and aware that you have a deficit. As an intelligent and responsible person, you are taking action to educate yourself.

Reframe:

"I am concerned and aware that you have an issue with finances. As an intelligent and responsible person, you are taking action to educate yourself and get assistance on this dillema!"

And
"I am aware of (whatever psychological issue there is) and I will research and find help for that issue." Because I am a responsible and intelligent person, I will do this."

See?

To be aware shows intelligence. You are not dumb.
Community LeaderThePepperMan
ThePepperMan
By all means get a lawyer/accountant. They can really help you; if you can't pay your tax bill the best thing you can do is to set up a plan so that you can pay it.

And check with paypal, see if they have a way so that a certain amount of your income there goes into a tax account.

Gentle hugs.

Scratch that, one HUGE DANCING BEAR HUG!!!
KelleyPaterson
KelleyPaterson
I too have an addiction to purchasing jewellery. It is so shiny and sparkly.....I needs to have it. I however try to keep to within my means. Heavy emphasis on the TRY. I have never considered trying to sell any of it.

It sounds as if you have actually found somewhat of a reasonable means of dealing with your manic shopping sprees. But I guess that depends on how much you may lose on shipping. Still at least you aren't simply running up thousands in debt.

I'm sorry that this tax situation is such a shock. I hope you are able to afford a good tax account to help out with your situation. I'm sure you can make payment plans at least. Maybe it won't be too crushing? Big Hugs Kelley
deleted_user
deleted_user
Look they know going to jail doesn't pay them that tax, they will set a plan for you to pay it a little at a time and you can appeal how much they expect. It's not a matter of them coming to cart you off. Hugs
Juice
Juice
You are not a dumbass!! Let's get that clear right from the start. Like you said, it's part of your illness, and when you're ill you don't think about stuff like taxes!! I don't have any advice, just wanted to say you're not dumb, just a little nuts.
WallyBear
WallyBear
Sweetheart,
You're NOT Dumb !
I Too Get A 1099 Form At The End Of The Year For My Part Time Cleaning Job. It Took My Husband THREE Years To Explain It To Me.

Please Try To Stay Calm. You Got Some Really Great Advice Here From All Your Friends :) Like PeppersTeddy ,The Government
Doesn't WANT You in Jail. They Will Help You Work Out A Way To Pay Whatever Taxes Are Due.

Love You Sweetie ((((((((HUGS)))))))))
deleted_user
deleted_user
I am not totally sure how it all works-I have more questions than answers for you- for PayPal- they sent a thing for total sales- what about the total charges? You should be able to get records at the very least from Ebay purchases and Ebay sales- you should be able to show the items you purchased- and the resale of those items- if you made a profit then maybe that part would be taxable. You are not set up as a business right? Definitely talk to an accountant/tax specialist about this because if you are using your own personal money to buy online (don't be offended-because you are a shop-a-holic/addict/impulse buyer etc.) and that you then turn around and sell those items-most likely at a loss to yourself- then you aren't actually making any money. If for example you were a business- you would have expenses that go along with any income- as always there are deductions! Try to contact ebay and see what they can do to help you out with records. Take some deep breaths- all is not as bad as it seems- I'd no doubt be freaking out too- what am I saying- I freaked out last week over $200 and had a complete melt down over it! There is help out there for you- experts that can straighten things out for you for sure! On here you've got support and understanding! Hugs to you- it'll be OK.
deleted_user
deleted_user
well,I don't have money,so I don't have that problem,just other money issues,but you are not a dumbass,like that other reply said,maybe get an lawyer,or an accountand,maybe you can find a way to lower the payment,or something like that,hugs always girl.
deleted_user
deleted_user
Here is a big comforting hugg. I have nothing to add to the advice you have already received.

But I do have to say you are not dumb.

That is my job hehe.

Huggs and love and good luck. please keep us posted.
deleted_user
deleted_user
i didn't read any of the replies, but you are not going to go to jail. If you didn't file the IRS will file on your behalf and it will cost you more due to penalties. IF you filled and have not paid then give them a call and work out something to set up payments. I owe then 7,010$ from 2010. if I had filed then I would only have had to pay 4,000$, but time and me being a screwed up hardcore drunk, I dropped the ball. However, I am working it out with them right now and going to start making payments soon. They are not the big scary IRS that people make them out to be. They would rather get their money than put you in jail where you CAN'T pay them. I would recommend a bean counter(accountant) to work out all the paper work that you can find. PayPal needs to give you access to that paper work too. It's for taxes and they can't deny that, but I would say talk to a tax attorney as they can give you better guidance.

BtW, it's not that much in taxes. 77K is only around 5,500$ in taxes. You can pay that off in a year ;) Just don't go all spend crazy! I tend to do that when I get all manic, but it's with computers. I just have to keep telling myself that I have enough! YES! 12 is enough!!!