@the.real.tax.guy: Venmo update #SmallBusiness #taxtok #taxseason #deductions #taxtips #taxrefund

The Real Tax Guy
The Real Tax Guy
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Region: US
Friday 31 January 2025 15:11:54 GMT
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70fatman
70fatman :
They can’t account for Trillions but we have to explain everything
2025-01-31 18:01:22
2287
gunbunnyoils
Gun Bunny Oils :
It’s still for business transactions and does not affect personal transactions.
2025-01-31 16:47:38
745
sventroy
Sventroy :
The thing is that a lot of Venmo is ‘selling used stuff on Facebook marketplace’ or whatever. You should only be taxed on gains. There is no gain on selling a $500 couch 5 years later for $200
2025-01-31 18:09:05
119
happypoopytime69
happypoopytime69 :
This is only for business accounts tho.
2025-01-31 21:25:35
129
bscaper
bscaperpnw :
Nope. If i transfer money to my bank and then pay taxes on it. I’m not paying taxes twice lol.
2025-02-02 01:43:38
87
shadowflee
Shadow Flee :
So what if I send money through Venmo to my roommate? In order to pay my rent, I'm not paying my roommate. We're just making sure that only one payment has to go through for the rental company
2025-01-31 17:11:44
11
kspens
Kristin Hestrom Spen :
What if Venmo is used for gifting? That shouldn't be taxed. Does it only count as taxable if the transaction reflects it is a purchase?
2025-02-03 01:00:20
0
brotronix
Brody Young :
My roommate pays me $500 each month just for rent. Then another $100 for WiFi and utilites. What’s this mean for me?
2025-01-31 17:49:59
3
threemags
threemags :
What about apple pay
2025-02-01 11:35:54
1
joesmithvb290
joesmithvb290 :
You stopped at a good part. How can venmo tell?
2025-02-01 12:31:56
7
gingerwandering
Gingerwandering :
Wages are capital, and not taxable as income.
2025-01-31 20:24:09
1
tswum
Tyler :
If I pay rent with venmo will that now be taxed?
2025-02-02 14:27:48
0
337blaze
blaze :
Question: I was supposed to be paid $1k, but the person sent $10k accidentally. I refunded $9k immediately but was still sent a 1099 for the $10k amount. What do I do?
2025-02-02 15:44:03
0
skylarhadleyy
Skylar Hadley :
How do you see the total amount you received?
2025-01-31 22:58:59
2
pitterpatter608
Brandon Marshall :
Straight cash baby
2025-01-31 17:00:39
3
luckytiger3202
Ruthless714949 :
sending money i wont get any forms? asking for a friend
2025-02-01 02:20:10
0
username54177568875
username541 :
What happens if you just paid for your friends lunch and then they’re paying you back?
2025-02-01 00:14:58
1
richardstapleton10015
Richard Stapleton :
my buddy venmos me so we can put sports bets together... down about $5k. they better not.be taxin me for that
2025-01-31 23:34:38
0
nebo46
nebo46 :
I don't pay taxes so I don't file anyways
2025-01-31 18:24:31
20
yo_lets_go
Rich :
Cash is king.
2025-01-31 17:03:33
29
coolpapapump
coolpapapump :
What about selling on eBay 🫣
2025-01-31 17:40:30
2
daddy_needs_a_drink
Angry_leprachaun :
Won’t pay it
2025-01-31 18:40:35
11
chelsealiz07
ChelseaStrate :
They just keep taxing us on things that we’ve already paid tax on to tax us again and again
2025-02-02 00:26:27
0
samcottongim
Sam Cottongim :
What if that income is already reported in another way? For something like rental payments
2025-01-31 23:36:21
1
chandler603603
Chandler :
Moving to cash, appreciate it!
2025-02-02 10:16:29
3
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