Payment App Tax in US: Impact, transaction limit, key details
Among them: changes to state-level overtime and minimum wage rules, the delayed federal FinCEN registration, taxes on payments from third-party providers like Venmo and PayPal, and anything that might affect inflation, including tariffs, as per AP report.
The Small Business Administration is also ushering in a new leader, Trump loyalist Kelly Loeffler, assuming she’s confirmed by the Senate. “I think there a general sense that there is going to be obviously a pro-business administration on the regulatory side,” said Karen Kerrigan, President and CEO of the Small Business & Entrepreneurship Council, an advocacy group. “But there could be some nuances specifically on, say, workplace or labor rules. But that’s still to be determined.”
Payment App Taxes
Another regulation that has been on small businesses' radar for several years is taxes on payments via third-party apps like PayPal, Cash App, Venmo and similar platforms.
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