venmo/zelle/traceable shit

[HenrySwanson]

So maybe a dumb question, but do any of the studios use methods other than cash for payment?


I know some indy girls do, but that seems sketchy since it's traceable...isn't it?

[bigdickbigmoney]

Why not ask the bookers?

[2balls75]

Agree with big money, but it shouldn’t matter, you’re boycotting anyway. Lol

[TexomaCowboy]

I thought that the boycott was against studios that have rates higher than 3? Did I misunderstand? So the question is still valid regarding LP

[her288]

They took Zelle after I find out not enough cash in my wallet.

[HenrySwanson]

It's more about wondering what kind of records they are keeping. I believe venmo and zelle are auditable by the IRS. If thats true wouldn't this be a risk for all of us eventually if the rumor about them hanging on to our screening info is true as well?

[TheTopG655]

Originally Posted by TexomaCowboy

I thought that the boycott was against studios that have rates higher than 3? Did I misunderstand? So the question is still valid regarding LP

It is studios that are 300+, so lunar palace is fine

[Darkloveofasians]

[QUOTE=HenrySwanson;1063322291]It's more about wondering what kind of records they are keeping. I believe venmo and zelle are auditable by the IRS. If thats true wouldn't this be a risk for a




I think cash app and Venmo are audited by the IRS. Zelle is fine.

[TexomaCowboy]

Originally Posted by HenrySwanson

It's more about wondering what kind of records they are keeping. I believe venmo and zelle are auditable by the IRS. If thats true wouldn't this be a risk for all of us eventually if the rumor about them hanging on to our screening info is true as well?

No, not now.

There was that law passed about reporting Zelle payments over $600 annually, but it was later clarified after lots of complaints from small businesses.

"Zelle® does not report transactions made on the Zelle Network® to the IRS. The law requiring certain payment networks to provide forms 1099K for information reporting does not apply to the Zelle Network®."

https://www.zellepay.com/faq/does-ze...-i-receive-irs

[TexomaCowboy]

"Companies such as Venmo, PayPal, and Cash App, known as Third-Party Settlement Organizations (TPSOs), are required to provide annual Forms 1099-K to the IRS and taxpayers. In March 2021, Congress modified the requirements for reporting these transactions by lowering the minimum reporting threshold to any amount over $600"

Looks like dropping from 20,000 to 600 as the threshold for requiring reporting (that's our Congress doing that shit) is not abandoned, just delayed by one year.

https://www.taxpayeradvocate.irs.gov...ing-by-a-year/

[TexomaCowboy]

Sorry for multiple posts but...the current reporting threshold is 20,000 per year. I think there are a small number of mongers here that would easily exceed that threshold, and would receive a 1099K if they used any of the TSPO's rather than cash. And again, that threshold drops to 600 in 2024, which would apply to all of us.

Cash is king...until we are forced to go all-digital, which means everything we do in life is tracked.

[aJohnDough]

Originally Posted by TexomaCowboy

Sorry for multiple posts but...the current reporting threshold is 20,000 per year. I think there are a small number of mongers here that would easily exceed that threshold, and would receive a 1099K if they used any of the TSPO's rather than cash. And again, that threshold drops to 600 in 2024, which would apply to all of us.

Cash is king...until we are forced to go all-digital, which means everything we do in life is tracked.

Coming sooner than later

https://www.instagram.com/reel/CyJdJ...c4MTIwNjQ2YQ==

[shauk1960]

If they are reporting to IRS, you are probably not going the exceed 20000 in payments, I cashapp all the time for legit massages because I don't carry cash, it's a hassle

[HenrySwanson]

So better to stick with cash and not leave a paper trail for "miscellaneous services" with the government. Good to know.

[Monaural]

Unless they're paying you then it's not a big deal.