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> So there's presumably some threshold where you can just have essentially a petty cash business expense. $600
by giaour 4y ago
> So there's presumably some threshold where you can just have essentially a petty cash business expense.
$600
- ghaff 4y agoHow surprisingly sensible. :-)
- grepfru_it 4y agoExcept now the IRS will be watching bank accounts for any transaction totaling over $600 to combat this loophole. Good luck!
- ghaff 4y agoThey don't need to watch bank accounts. Companies are supposed to issue 1099s for payments over $600.
- grepfru_it 4y agohttps://www.cbsnews.com/amp/news/irs-bank-account-update-change-treasury-10000-dollars/ https://www.cbsnews.com/amp/news/irs-bank-account-update-cha...
- arjvik 4y agoDocumented anywhere?
- giaour 4y agohttps://www.irs.gov/forms-pubs/about-form-1099-misc https://www.irs.gov/forms-pubs/about-form-1099-misc