Don’t take this as a political post because it’s not. Just trying to think ahead.
The current President changed the tax rules shortly after going in. Selling something like car parts and getting paid through certain avenues such as Venmo or PayPal triggers the possibility of receiving a 1099k for income from these financial institutions if it’s over $600 in a tax year. It’s easy to track and hard to dispute.
If a used car is sold, say a classic car for $40k, would this technically be...
Read more
The current President changed the tax rules shortly after going in. Selling something like car parts and getting paid through certain avenues such as Venmo or PayPal triggers the possibility of receiving a 1099k for income from these financial institutions if it’s over $600 in a tax year. It’s easy to track and hard to dispute.
If a used car is sold, say a classic car for $40k, would this technically be...
Read more
