New IRS Reporting Requirements

The IRS has changed reporting requirements for payment platforms like Paypal, Venmo, Cashapp, and Zelle. These platforms will now be sending 1099s to anyone who receives $600 or more in a tax year. A lot of folks are concerned about how this will effect them and I am diving into the nitty-gritty this week

In this episode, we discuss: 

  • What is being reported to the IRS
  • Whether your personal income is being taxed like your business income
  • Why an accountant is more important than ever

Got any questions about the new IRS requirements that I didn’t go over? Looking for an accountant to help? Screenshot this and tag me in your Instagram Stories @andreasagerlaw! We’ll get you connected with some recommendations. Plus, follow our new IG, @legalpreneur

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Transcript

Disclaimer: 

The Legalpreneur Podcast is advertising/marketing material. It is not legal advice. Please consult with your attorney on these topics. Copyright Andrea Sager Law 2022

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