I have a year-end tax tip for you: Be prepared to prove money you received via PayPal or any other payment app - to split a dinner check or as a cash gift for your wedding - was not business income.Let me explain.If you have a personal finance question for Washington Post columnist Michelle Singletary, please call 1-855-ASK-POST (1-855-275-7678) ArrowRight As of 2022, all third-party payment processors in the United States, includingVenmo and Cash App, must report payments of more than $600 a year received for goods and services.
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