JReed TaxCo. LLC

🚨 Small Business Owners: Will You Get a 1099-K This Tax Season? 💰📲

If you received over $5,000 in payments through PayPal, Venmo, Cash App, or Square in 2024, be on the lookout for a 1099-K from the payment processor. This is a major change from the old $20,000 threshold!

What This Means for You:

✅ The IRS is tracking this income, so it must be reported.
✅ Not reporting it can lead to penalties or audits.
✅ Personal transactions (like paying a friend back) DO NOT count toward the $5,000 threshold.

🔹 2025: The threshold drops to $2,500.
🔹 2026: It will drop again to $600!

💡 Check your payment processor accounts and download your 1099-K before filing to avoid surprises!

☎️Call or message us today 888-660-0151

Do you have a hectic schedule? Not enough time to sit down with an tax preparer to file your taxes?
No worries, I provide virtual services and drop-off services. Take advantage of these services, and save yourself some valuable time on other needs! Call today to get started!
☎️ 1-855-855-3569

The begins accepting tax returns today! Taxpayer help has expanded this year with more in-person hours, better service and improved tools. Read: https://ow.ly/bb7k50QvqRN