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Business & farm
Welcome to the Event, JLS36!
It is a good idea to have separate accounts for your personal transactions and business ones.
Here is an excellent resource that explains how Venmo works:
You are required to report all income to IRS and pay taxes on it. It is important to keep track of your expenses - they can offset your total income earned.
State taxes are different - you can check with your state to see what is taxable there.
Here is another great resource from Venmo:
https://help.venmo.com/hc/en-us/articles/4407389460499-Venmo-Tax-FAQ
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May 22, 2024
10:28 AM