venmooo question

[DISTROYA]

If you get paid for some stuff here and there, is there a threshold dollar amount monthly/yearly, each time, etc...you can opt to not report to uncle sam?

[Ebumdude]

If you get paid for some stuff here and there, is there a threshold dollar amount monthly/yearly, each time, etc...you can opt to not report to uncle sam?

As long as it’s under $9k per month, you can deposit or move the money as you wish. Under $9k per month for bank withdrawals as well.

[DISTROYA]

thx ebum...so couple grand a month dont have to report? around 3k doing odd jobs.

[Ebumdude]

Correct.

[DISTROYA]

great...thanks for the info.

[DISTROYA]

read somewhere if you pass 20k/year, they do report to uncle sam

[The Kraken]

Not sure what you’re doing or how much, but avoid structuring withdrawals.

[DISTROYA]

friend has a property collecting rent under 3k/month, sometimes through vmo, says doesnt report it keeps under 20k/year, like 1/2 takes through regular checking deposit, 1/2 through vmo.
do some odd jobs/errands and small crafty shit I sell but thats well under 20k a year.

[Grits n' Gravy]

There is always a trail if using your info. Just because they aren’t taxing you now doesn’t mean they don’t come knocking at a later date.