Biz Help For You
Biz Help For You is a business education podcast designed to help small business owners and entrepreneurs navigate the rules, regulations, and best practices that keep their businesses compliant and profitable. Each episode delivers practical guidance on topics like business licenses, payroll, sales tax for online and brick-and-mortar sellers, 1099 processing, and other critical compliance tasks.
In addition to compliance insights, the show shares expert tips on marketing, website design, budgeting, understanding financial reports, and growing your business efficiently. Listeners will also learn how to build effective systems and processes, hire and manage teams, choose between desktop and cloud-based software, and create marketing strategies that drive results.
Whether you’re a new entrepreneur or an established business owner, Biz Help For You equips you with actionable strategies, expert advice, and insights to help your business run smoothly, stay compliant, and achieve sustainable growth.
Biz Help For You
How to Understand the IRS Reversal of the 1099-K Rule and What the $20,000 Threshold Means for You
Are you worried about receiving a surprise 1099-K for a few payments on PayPal, Venmo, or other apps?
In this Quick Tip episode of Biz Help For You, you walk through a major IRS update that brings clarity and relief to many small business owners, freelancers, and casual online sellers. The IRS has officially reversed the planned $600 reporting threshold for Form 1099-K and permanently restored the $20,000 and 200-transaction rule.
You will learn what changed, why it matters, and how this update applies to payments received through third-party apps and online marketplaces. The episode also clarifies important exceptions, including when a 1099-K is still required, how credit and debit card payments are treated, and why state-level rules still matter.
This episode helps you understand what Form 1099-K actually is, what it is not, and how to stay compliant without unnecessary stress during tax season.
If you receive income through platforms like PayPal, Venmo, Etsy, Apple Pay, or Zelle, this episode gives you the clarity you need to plan confidently.
To download your free resource guide, visit https://affordablebookkeepingandpayroll.com/1099-guide/
Resources: https://affordablebookkeepingandpayroll.com/resource-opt-in
Become a supporter of the show: https://www.buzzsprout.com/1522381/support