Pinball Preparedness
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1099k tax which became effective January 22
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1099k tax which became effective January 22
Does anyone know anything about this tax. From what I understand if you made money on any social media site over $600 you will have to pay taxes on it. It also said that on FB marketplace if you sell something for more than what the IRS considers the value you have to pay Capital gains tax. Any information is appreciated.
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19 Replies
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Yeah on any income even yard sale and bartering the government wants their cut…
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It’s going to take a lot of people by surprise. Lord help us all. Thank you
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I’m new to the app and haven’t been on much due to tax season and I’m a tax preparer with 30 years experience. 1099k is a form they are required to send for card or online transactions. You do have to make over $600 before one gets sent to you. The IRS makes new forms every year, which complicates doing your own taxes.
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I can assure you, they will keep talking until we says no or there is nothing left to take.
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This reply was modified 3 months, 2 weeks ago by TagNBee. Reason: Sp
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This reply was modified 3 months, 2 weeks ago by
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Cali in some counties already tax ppl on their well water…growing food is next imho
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Ask yourself this question?
Why do people pay illegal taxes?
Resolve that problem which originates in how people have been conditioned to think…
Fear is the bases of all control.
Remove the fear and remove the control.
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CA can’t be fixed. Sane folks will just get outvoted by the wokies. The best recourse, if you can manage it, is to move. Call 1-800-GO-U-HAUL.
If that is not an option, then as they say south of the border, “what can not be remedied must be endured”.
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This kind of goes along with a question I have that I haven’t seen anyone talking about. What are thoughts on this agricultural census? I know it’s all about ways to dig in to our pockets more, but we are just trying to grow our food.
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NWO (New World Order) desired by radicals with too much money. Meaning they are chipping away at your ability to be self reliant. They are attempting to weaken you in order to make you comply. Their goal is one government for the world. Made up of the wealthy corrupt – like America’s democrat party….only worse.
Basically, they get everything and you receive whatever they want you to. Think China 🇨🇳
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More big Government so they can spend more money on the things we don’t need. If the Government was a regular business they would be bankrupt and out of business. They spend millions every year just keeping the postal service afloat and they still raise the price of stamps.
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This is part of the danger of CBDC centralized digital currency – every transaction will be tracked.
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The minimum of $600 for which you would receive a 1099 has been suspended until tax time for 2023 income However, the government expects us all to be good citizens and claim any digital or cash income we have made throughout the 2022 year. But no, companies don’t send a 1099 unless you have had 200 transactions AND $20,000 income through them in 2022.
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People are still getting the 1099NEC and 1099MISC for self employment and 1099K for card and online transaction sales and fees. Most companies aren’t required to do it, like doordash and Uber, but still are in order to avoid any hassle from the government.
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Really? I never got one from Etsy, but they did say they because it changed and they weren’t required to change the terms that they wouldn’t be doing it until next tax year. Meantime, they made it impossible to keep my store because they wanted me to sign terms that I agree they can sell my banking info and now I heard they are having trouble paying sellers because they had ties to Silicon Valley Bank. I miss the income, we needed it, but I am so glad to be out of Etsy.
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Not all companies are sending them out. My son didn’t get one either. Most of them have the software to do it if the government can ever get it approved. Just another way they can track where everyone spends the money so they can tax it.
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Well, that’s going to be hard at tax time. You need to submit the 1099 with the taxes like a W2, don’t you? Maybe not, I can’t remember. It’s been a long time since I needed one. But Etsy does send them out if they are going to.
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Does anyone else remember seeing this on the evening news in the late 80s or early 90s?
The Supreme Court ruled that “If anyone had not paid income taxes on the basis of it being unconstitutional they are completely in their rights to do so.”
It was about a 1 minute blurb and that was the last time it was ever mentioned… I remember hearing it!
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Thank you. We’re all going to get audited before this is over.
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I won’t b surprised