My fifth-grade (1959-60) teacher use to proclaim a loaf of bread had 39 taxes hidden in each loaf. Now it is up to 151 hidden taxes in same loaf of bread. My favorite tax saying is from the 1800’s ’Don’ tax me, don’t tax thee, tax the man hiding behind the tree.’ No one, that I know, of enjoys paying tax. It takes both houses of congress to pass new tax laws, after they make sure the maximum deductions apply to them. Kind of like the weather, complain all you want, but seek some shelter. Taxes are neither red nor blue, they are red, white, and blue. White socks, red necks, and blue-ribbon beer made this country great.
Paypal Changes for 2022
If I understand this correctly, Paypal, along with all on-line payment sources like Venmo, etc. will now be sending out 1099 forms for all payments totaling $600 you receive in 2022 for goods or services. The only way around this is to use Paypal friends and family for payment which eliminates any buyer protections. Is everyone aware of this?