This might present a problem…….

We all have different opinions and obviously different taste isn’t that what makes America Great! Originally Posted by Nikki Tylor

I believe I have good taste. Definitely got to visit NOLA 😏

All Hail President Biden - how was this shmuck elected???? Who voted for him again ? Hmmmmmmm Originally Posted by Nikki Tylor

I did.

Let's Go Brandon. I knew Dems would find a way to tax Sex.

So basically now there no difference between sending money via western union with the fees they have and sending money via pay apps. Is that basically what is going on?

The new rule only applies to payments received for goods and services. Many small businesses use these apps to receive payments .

This means money exchanged as GIFTS or FAVORS isn’t taxable, and property sold at a loss is also excluded.

The change to the tax law American Rescue Plan . It will allow the IRS to figure out how much income business owners actually earned through payment app transactions regardless of what they report.

The IRS will be able to cross-reference apps that are now required to report and what you filed.

Law was just passed but doesn’t apply til next tax season .

So basically now there no difference between sending money via western union with the fees they have and sending money via pay apps. Is that basically what is going on? Originally Posted by gimme_that

No.

yeah I’ll wait a year before I use any of those pay apps at all. And seeing how someone receiving a semi steady streaming amount of “gifts” from people in those higher earning income ranges of 20K or more in earnings for a year will makes sense when filed. It doesn’t take long to accumulate that with the right business disguised as gifts or not. Cash is still king. All that matter to me. Convience sure was good while it lasted.

Let's Go Brandon. Originally Posted by Cherokeechief

More "Let's Go Darwin" from my perspective.

the law affects non-bank processors. its just for goods and services.


the 600$ report law was originally proposed for banks. this got too hot for the dems to handle so they fobbed it on the 3rd party non-bank processors which has a smaller market share than banks.

Actually, you can blame Ronald Reagan for that one. Next? Originally Posted by Joe Blows

I suppose that in an alternate reality Al Gore was Reagan's Vice President????.....sure, why not?? And while we are at it...What Inflation?, Stagflation??, never heard of it. Afghanistan was a HUGE SUCCESS, Immigration, Border Crisis, Nah, That's not reality man!!! Energy Crisis, Layoff's, Worker shortages, Supply Chain issues.....come'on man!!! Hunter's Laptop, Ashley's Diary.... NEVER HAPPENED.....Fake News Man!!!! AND Gas Prices are actually getting lower, wink, wink!! and on, and on and on...

BUT....Corn Pop....Definitely Happenned....wink, wink...

LETS'S GO BRANDON

Next?

Thank God I never ran my business through cash apps but I know most do - such a shame . All Hail President Biden - how was this shmuck elected???? Who voted for him again ? Hmmmmmmm Originally Posted by Nikki Tylor

"All Hail President Biden - how was this shmuck elected???? Who voted for him again ?"

They are "Distancing" Themselves. Several that I know have removed their bumber stickers, LMFAO....and all of my democrat "Facebook" friends have gone POLITICALLY SILENT???? apparently none of them are willing to publicly support ******* .....it's AMAZING how fast they got over their TDS and how silent they've become after four years of visceral attacks on everything Trump or conservative????

Accusation not allowed The Dr

I'm glad I don't use apps. I could see the threshold lowering over time as well.

I suppose that in an alternate reality Al Gore was Reagan's Vice President????.....sure, why not?? And while we are at it...What Inflation?, Stagflation??, never heard of it. Afghanistan was a HUGE SUCCESS, Immigration, Border Crisis, Nah, That's not reality man!!! Energy Crisis, Layoff's, Worker shortages, Supply Chain issues.....come'on man!!! Hunter's Laptop, Ashley's Diary.... NEVER HAPPENED.....Fake News Man!!!! AND Gas Prices are actually getting lower, wink, wink!! and on, and on and on...

BUT....Corn Pop....Definitely Happenned....wink, wink...

LETS'S GO BRANDON

Next? Originally Posted by Kernelingus

Here you go big fella...

In the early 1980s, President Ronald Reagan, with congressional leaders, convened a bipartisan commission to study the issue. In 1983, that commission issued a report that formed the basis for amendments to the Social Security program. Among the recommendations in the report was that benefits be taxed as income for recipients who had income over a certain threshold.

Congress set that threshold a little higher than recommended, at $25,000 for single people and $32,000 for married couples. That would be equivalent to about $64,000 and $82,000 today, adjusted for inflation using the Bureau of Labor Statistics’ consumer price index calculator.

A Senate Finance Committee report issued in March 1983 said that the bill would assure that those with low incomes wouldn’t pay taxes, but those with “substantial taxable income from other sources” would be taxed on some of the benefits they receive.

The income thresholds weren’t indexed to inflation, though. So, as time went on, inflation would rise but the thresholds would remain the same, effectively lowering the bar that was intended to keep low-income beneficiaries from being taxed and adding more beneficiaries to the tax rolls.

It should also be noted that the thresholds weren’t a hard line above which everyone would be treated the same. Rather, the bill set out a formula with a gradual increase in the amount of benefits eligible to be taxed, which maxed out at half of a recipient’s benefits.

All of the taxes collected on those benefits would go back into the Social Security coffers.

The bill that included that change to the program passed in a bipartisan vote in 1983. Biden was one of 88 senators who voted for it. Only nine senators voted against it.

When Reagan signed the bill into law, he praised the bipartisan effort in his remarks and was joined by members of both parties. “This bill demonstrates for all time our nation’s ironclad commitment to Social Security,”

Ps. Trump is not a conservative. You’ve been duped.

"All Hail President Biden - how was this shmuck elected???? Who voted for him again ?"

They are "Distancing" Themselves. Several that I know have removed their bumber stickers, LMFAO....and all of my democrat "Facebook" friends have gone POLITICALLY SILENT???? apparently none of them are willing to publicly support ******* .....it's AMAZING how fast they got over their TDS and how silent they've become after four years of visceral attacks on everything Trump or conservative????

Accusation not allowed The Dr Originally Posted by Kernelingus

He seems nice