#385 - The Venmo, Tippy, Paypal 1099 Tax Reporting Situation

Did you just get a surprise tax form you weren't expecting? Are your Venmo, PayPal, or even salon software tips suddenly under the IRS microscope?  If you are a stylist or a salon owner that uses Venmo, PayPal, Apple Pay, Cash app, Tippy etc. and this has happened, then this episode is one you need to listen to.  Today, I discuss the 1099-K form that a lot of stylists were not expecting when it came time to do their taxes, along with the new laws that have come into effect, which I don't believe was widely reported. More importantly, we'll discuss how to prepare NOW to avoid a financial shock come tax season. If you are ready to get ahead of the curve and ensure your hard-earned money stays where it belongs, then today's show has the information you need to navigate this evolving landscape and protect your business! With Grow My Clientele Calculator, you'll get instant clarity on how many new clients you'll need to hit your 2025 financial goals! Enter just four numbers, and this tool will show you exactly how many new guests you need monthly and yearly to reach your target income. No guesswork or complicated math required, and you can get it now at www.thrivingstylist.com/growmyclientele/!   Do you have a question for me that you'd like answered in a future episode like this one? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!  If you're not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You're not going to want to miss out on this. Learn more at: https://thrivingstylist.com/podcast/