1099K Changes Explained
A significant shift in the 1099K reporting threshold is on the horizon, dropping from $20,000 to just $600 starting in 2024. This change could catch many off guard, especially those who have casually sold items online or used payment platforms. While the IRS has delayed the implementation for 2023, individuals should prepare for potential tax implications and start keeping better records to avoid surprises.In this clip
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Ask HTM - Cash with an Online Bank, Revenue Credits on a Target Date Fund, & Paying Taxes on Hobby Income #616
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