Uploaded November 2023 | Updated September 2026, 1 week ago
Important Update: IRS Delays $600 Tax Rule for Individuals and Online Sellers!
youtu.be/1UU3iKB2ZVo
Attention taxpayers! Dive into the crucial details about the new $600 Form 1099-K rules in my latest video. Despite talk about Congress delaying or adjusting the threshold, it's wise not to bank on it with the current pace on Capitol Hill. Join me as I break down what these tax changes mean for you, with a real-life example to guide you through.
Freelancers & Gig Workers: Simplify Your Taxes! Grab My Ultimate Guide to Side Hustle Taxes!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/PLHy9Ym2EJk
youtu.be/gkfJM46Afmc
youtu.be/F5Ve0z_4Jgk
Thanks for watching my video on, What You Must Know About the New 1099K Rules for 2023 Taxes
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - The IRS Has Revised The 1099K Requirements
01:51 - The New 1099K Loopholes
02:48 - The New 1099K Real-World Example
03:21 - Reporting Form 1099-K On Tax Return
03:57 - What Happens If You Ignore The 1099K?
04:13 - What If You Don't Have Records For The Cost of Items You've Sold?
05:25 - Conclusion: The New $600 Form 1099K Rules for 2023 Taxes
Replay Video Link: youtu.be/R4sECU6k2HE
#1099 #taxreturns #taxreturn
Important Update: IRS Delays $600 Tax Rule for Individuals and Online Sellers!
youtu.be/1UU3iKB2ZVo
Attention taxpayers! Dive into the crucial details about the new $600 Form 1099-K rules in my latest video. Despite talk about Congress delaying or adjusting the threshold, it's wise not to bank on it with the current pace on Capitol Hill. Join me as I break down what these tax changes mean for you, with a real-life example to guide you through.
Freelancers & Gig Workers: Simplify Your Taxes! Grab My Ultimate Guide to Side Hustle Taxes!
noellorenzanacpa.com/opt-in-filing-taxes-and-saving-money-ebook
☕ Buy Me a Coffee: Help support the channel!
buymeacoffee.com/NoelLorenzana
Hi, I'm Noel Lorenzana, a Registered CPA based in Illinois. I created this channel to help everyday people better understand money, protect their wealth, and prepare for whatever comes next through thoughtful discussions about gold and silver, wealth management, and tax strategy.
On, this channel, I simplify taxes for your business and offer tax tips for you! Let me know if there is anything you would like me to discuss. Feel free to connect with me on Social Media.
★CONNECT WITH ME ON SOCIAL MEDIA ★
Website: noellorenzanacpa.com
Facebook: web.facebook.com/noelblorenzana
LinkedIn: linkedin.com/in/noellorenzanacpa
🎥 RECOMMENDED VIDEOS 🎥
youtu.be/PLHy9Ym2EJk
youtu.be/gkfJM46Afmc
youtu.be/F5Ve0z_4Jgk
Thanks for watching my video on, What You Must Know About the New 1099K Rules for 2023 Taxes
Disclaimer: The information presented in this video is for informational and educational purposes only and should not be considered accounting, tax, legal, financial, or investment advice. Watching this video does not create a client relationship. While I strive for accuracy, I cannot guarantee that all information is complete, current, or applicable to your specific situation. Always consult with a qualified professional before making financial, tax, or investment decisions.
Affiliate Disclosure: Some links in the description may be affiliate links, which means I may earn a commission if you purchase through them at no additional cost to you. I only recommend products and services that I have personally researched, use, or believe provide genuine value to my audience.
⏱️VIDEO CHAPTERS⏱️
00:00 - The IRS Has Revised The 1099K Requirements
01:51 - The New 1099K Loopholes
02:48 - The New 1099K Real-World Example
03:21 - Reporting Form 1099-K On Tax Return
03:57 - What Happens If You Ignore The 1099K?
04:13 - What If You Don't Have Records For The Cost of Items You've Sold?
05:25 - Conclusion: The New $600 Form 1099K Rules for 2023 Taxes
Replay Video Link: youtu.be/R4sECU6k2HE
#1099 #taxreturns #taxreturn
