Online earnings - business or personal bank account?

[Deleted member 403]

Do you have a business or personal bank account for your online earnings? And the money you earn online, do you declare it as taxable self-employed income to your government, or not? I've heard horror stories of personal bank accounts getting closed due to business transactions being processed on them.

 

[Seno inyang]

It depends on what I choose to do with my online earnings. If it's to push business I'll prefer it in my business account but if otherwise, I'll prefer it in my personal savings account.

 

[Blessedsam60]

I have an account for my earnings as usual but I don't think I have paid any tax for this except the value added tax which is indirect payment of tax

 

[Good-Person]

Do you have a business or personal bank account for your online earnings? And the money you earn online, do you declare it as taxable self-employed income to your government, or not? I've heard horror stories of personal bank accounts getting closed due to business transactions being processed on them.

I do not save my money in bank accounts. I have an account with an online payment processor and I save my money in there. It is a good way to save money and you could even access your money if you travel out of the city. I also pay taxes indirectly (Sales tax) on my online earnings in my country.

 

[Ub40]

Personally, all my online earnings go directly to my personal bank account. For instance, if I earn from bizdustry and paid via crypto coins, I will convert it to naira and send straight to my bank account. And non of my online earnings are taxed by the government.

 

[Kubiat-Abasi]

Personally, I devote my online earnings to purchase data, recharge my phone and I use it to sort out my academic activities. None of my online earnings has been taxed by government.

 

[alberello75]

No, I have a dedicated Italian debit / credit card called "Postepay Evolution", which in addition to functioning as a prepaid card, has its own IBAN (International Bank Account Number) code.
It was used to get my salary when I worked for three months as a food and drink delivery rider.
That costs "only" 12 € / month. But real bank account instead costs a much and much more!

 

[Kvngsammy]

Though a lot of small scale entrepreneurs use their personal bank accounts for business transactions from what I've noticed - not necessarily because they don't want to be taxed but they haven't seen the need or are limited in knowledge that personal and business interests shouldn't be mixed together

 

[Toyoabasi]

Do you have a business or personal bank account for your online earnings? And the money you earn online, do you declare it as taxable self-employed income to your government, or not? I've heard horror stories of personal bank accounts getting closed due to business transactions being processed on them.

My online earnings go to my personal account. I have a business account which I use for my offline business.
I do not declare my online earnings as taxable to the government.

 

[Pousinha]

I only have personal bank accounts (to avoid too much bureaucracy) because the laws about individual micro-entrepreneurs don't oblige to open a business one (but, in any way, I have a business Paypal account and a business fintech account).

My online earnings go to my personal account. I have a business account which I use for my offline business.
I do not declare my online earnings as taxable to the government.

What's your country? If you were living in a whatever European or Mercosur country, you couldn't omit your online earnings in your annual tax return. Among these countries, banks are compelled to report to a central bank whatever amount falls in the bank accounts of citizens and residents, whether personal, whether business accounts. And you could get fined. If you live in a country that doesn't tax online earnings, nor obliges to the annual tax return when you earn online, you are in a lucky situation.

 

[Kane]

In my home country, all businesses accounts are checking or current account where we don't receive interest on deposits, therefore, I use personal saving accounts to withdraw my online earnings.

 

[tyrim88]

All my online earnings are linked to my personal accounts and they are put in directly into that account after conversion.But my government does not put a charge on personal account.

 

[Good-Person]

Personally, I devote my online earnings to purchase data, recharge my phone and I use it to sort out my academic activities. None of my online earnings has been taxed by government.

Well, each and every person has been using online earning to do different sort of things. I am earning right now to save money because I plan to invest my hard earned money into crypto trading despite the fact that I have endured loss when it comes to crypto trading.

 

[jay]

I actually use both my personal bank account for my business as well as my business account as well. There are certain amounts of money that goes to my personal account and one's that goes to my business account.

 

[Laurentta]

All my earnings go to my personal account and they are not taxed by the government.

 

[btaliat]

Do you have a business or personal bank account for your online earnings? And the money you earn online, do you declare it as taxable self-employed income to your government, or not? I've heard horror stories of personal bank accounts getting closed due to business transactions being processed on them.

To avoid any complications of having bank accounts closed because of online earning, I always prefer receiving my online payment through cryptocurrencies.

 

[Immilash]

Yes I have a personal bsrnk account for my online earnings, I usually used it anytime I liked to, but for task I have never paid task for anything , this happens to offline businesses

 

[Adebayonle7]

I have never experienced declaring of my online earnings or paying taxes on them. All my online earnings end up in my bank account in the long run and the bank never questions me on them, neither does government ask me to pay any task on them as regards being self employed. i think most of those who pay taxes are the self employed ones who have physical offices.

 

[joy101]

All my online money go directly to my personal bank account I have never use my online earning to pay anything in the government, because I have never earn much online.

 

[kayode10]

All my online earnings goes straight to the savings account. I am not running any business offline at present. So I am not managing business account as a result. I only have different personal accounts.