What Freelancers Should Know About the IRS & Venmo

What Freelancers Should Know About the IRS & Venmo

Quick summary:

1. A Pew Research survey looked at two types of capital platforms: home-sharing sites, where people can rent out all or part of their homes for a brief period of time (less than 1 percent of people used home sharing sites to supplement their income), and online selling platforms, where users can sell items ranging from used goods to crafts they make - 18 percent of Americans have earned money in the last year from selling something online. 

2. H.R.3425, the Saving Gig Economy Taxpayers Act, was introduced to reinstate the exception for de minimus payments by third party settlement organizations for payments made in settlement of payment card and third-party network transactions, as in effect prior to the enactment of the American Rescue Plan Act

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