Posted January 25, 2022 This may be repetitive. I didn’t read through all of the topics currently Being discussed on any forum. Is anybody else is out there a little worried that the IRS is watching Cash app Venmo etc.? Considering this is how we are paying our ads?? 0 Share this post Link to post Share on other sites
Posted January 26, 2022 No, not really. I have to use Bitcoin for some business expenses. True business expenses or incoming income need to be reported since 1099 will be issued. From what I have read we will only need to record INCOMING INCOME not a pay out. The IRS does not care who we pay, but whoever is getting paid, needs to claim $$$. It will not affect simple transfers that are not biz related; i.e. A roommate giving their portion of rent, paying your grocery shopper etc. These payment systems show income though (which is good). If filing as sole proprietor or LLC (some may 🤷♀️). File under 1099 income. We all need to file, then you can pay social security, qualify for mortgage, car loan etc. You’ll be fine girlie! ❤️ 1 Share this post Link to post Share on other sites
Posted January 27, 2022 Agree with Audrey 100% from the way I read what IRS has published. 0 Share this post Link to post Share on other sites
Posted January 28, 2022 Excellent!! Thanks for input! 1 Share this post Link to post Share on other sites
