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What’s NEW for 2022?
The 1099k requirements for 2022 payments have changed!. This means thousands and thousands of people will be receiving IRS form 1099-k for the first time come 2023.
Even though you won’t receive the form until January 2023, it will include all the payments you received in the year 2022 if the total payments to you exceed $600.
Which 3rd Party Platforms Issue 1099-k Forms to You and IRS?
Any 3rd party payment processor that takes payments from buyers for goods and services, and then forwards the money to you (the seller) is a 3rd party payment processor.
Examples of more Common 3rd party payment processors:
- PayPal
- eBay
- Etsy
- Zelle
- Shopify
- Cash App
- Venmo
- Stripe
- Square
Of course there are many more, and new companies are likely formed every month. Also, don’t forget about the less common or platforms you don’t neccarily associate with the 1099-K, but now will:
Less Common 3rd Party Payment Processors
- Stubhub
- Godaddy (auctions)
- Uber drivers… etc
Official 1099K PDF Download – Free
Tip: Before receiving a 1099-k, it’s a good idea to know what they look like and what you can expect to receive in January. I highly recommend downloading the PDF right from the IRS website.
That way, if it gets updated (and many times they do), you’ll have the accurate version.
Here is a Link to IRS Website for the official 1099-k PDF Download
Expense Tracking Worksheet FREE Download: Excel
Useful excel spreadsheet for tracking receipts and costs related to Schedule C – Profit and Loss from a Business. Edit according to your needs and tax professional’s advice.
Good starting expense tracker or log book for:
- Self Employment
- Small Business
- Sole Proprietor
We also highly recommend, at the very least, getting an expandable portfolio with lots of pockets like these ones here and organize your receipts into these categories.
click HERE, or click the IMAGE to go to the Free Download Page
To learn more about the sublimation process or getting started, we think you should start with our home page.
Happy Sublimating!