1099

Celebrating Small Businesses

As we celebrate Small Business Month in May, it’s the perfect time to recognize the immense contributions that small businesses make to our nation’s economy and communities. Small businesses represent the entrepreneurial spirit that has long defined the American dream, from neighborhood coffee shops to home-based businesses. This is a time to shine a light […]

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IRS delays New 1099-K Tax Reporting Requirements

A big announcement was released 12/23/2022. The IRS delays the new 1099-K reporting requirements previously announced for all Venmo, PayPal, Stripe, and other cash app payment sites. This rule applied to any transactions, including part-time work, side hustles and anyone selling goods. Earlier in 2022 it was announced that transactions made through cash app payment sites over

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New 1099 IRS Rule for PayPal and Venmo Transactions

Heads up! If you missed it, there is a new 1099 IRS Rule for PayPal, Venmo and CashApp transactions starting in tax year 2022. This rule impacts small businesses and self-employed people. Reading an article covering this information in Entrepreneur.com this week, I was reminded how important it is to stay alert and start documenting

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