Venmo Taxes UPDATE | New IRS Reporting Threshold!?
Is the IRS really taxing anything over $600 on Venmo, CashApp, PayPal, & Zelle? What about the 1099-K form? Here's what's REALLY happening with your 2022 taxes, & what you can do about it... Leave a LIKE if you found this video helpful, & consider subscribing for more content just like this!
News Article Referenced
Link: https://www.dailymail.co.uk/news/arti...
TurboTax Article on Business vs Hobby
Link: https://turbotax.intuit.com/tax-tips/...
Previous Video About This
"NEW Venmo Taxes In 2022 + 1099-K | Should You Be Worried?"
Link: • Venmo Taxes + 1099-K | Should You Be Worried?
Additional Information About Reporting Income
Link: https://ttlc.intuit.com/community/inc...
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In this video I debunk some rumors surrounding the new PayPal & Venmo tax laws for 2022. I also explain what's REALLY happening with these money transferring platforms & how you might be impacted by these upcoming changes. I hope this video puts your mind at ease & gives you an idea of what to expect for 2022 tax season. If you use any of these platforms, are self-employed, have a side hustle, or run a business be sure to watch until the end so you can be prepared! Be sure to turn your notifications on for more life advice, financial tips, & psychological strategies to help you grow & optimize your life!
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My videos & descriptions may contain affiliate and/or referral links, which means if you click on one of the product links or sign up for a service, I may receive a small commission or referral bonus, respectively. This helps support the channel. All links provided in this manner are for products and/or services that I stand behind or use myself. Thank you for your support!
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LEGAL DISCLAIMER:
I am NOT a financial advisor/licensed legal professional of any kind & everything I share is my own opinion & perspective. All investments come with risk & I cannot guarantee any particular outcome. The information presented may not apply to you or your specific situation. Take everything I say with a grain of salt, consult a legal professional, & please do your own research to make the best personal decisions for yourself!
ABOUT ME:
My name is Caleb Clament, here to be your personal guide to self-investing! My goal is to provide you with tips, tools, strategies, & resources to help you invest in yourself, optimize your life, apply yourself as an adult, & grow to be your very best. I've had a great interest in psychology & personal finance from a young age, but some other passions I have include skateboarding, creating music, exploring nature, & reading. I love learning new things & teaching others. I want to see you thrive & achieve your goals!
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