Goodwill offers business tax advice using apps to transfer and receive funds

0

ALBANY, Ga. (WALB) – Goodwill is preparing to help the community this tax season by offering free tax preparation services in partnership with the IRS.

If you earn less than $57,000 per year, you qualify for their free tax services.

Nathalie Moreau from WALB spoke with Goodwill’s Financial Services Coordinator, Arlington Neely, who provided guidance to local business owners wishing to file.

He said new tax rules are now in place for apps used to transfer money for goods and services, including apps like Cash App and Venmo.

“The new Cash App reporting rules will only apply to transactions involving goods or services, and this applies to businesses and anyone else making sales of $600 or more through these platforms. “, Neely said.

Neely explained where app users can get more information.

Good Will offers business tax advice using apps to transfer and receive funds(WALB)

“You can access Cash App Upgrade under their terms and conditions through their current website and they can prepare to get the actual tax forms at the end of the year,” Neely said.

Neely also explained whether customers will lose money with this new tax change.

“They wouldn’t lose any more money that way. Everything is only now a report, it is a standardized report at all levels for the federal government. Once these cash payment apps have become more and more useful. Now it’s just one. Way to normalize it across the board so everyone is tracked like a regular 1099 person who is a unique entrepreneur would,” Neely said.

If you’re looking to do your taxes with Goodwill, their career center manager Keyara Hamilton assured that the process will be secure for users who are concerned about their information security.

“Once the taxes are done, the tax preparation process is complete, they will be notified. When they are notified, they are actually provided with a password or access code. Whereas when we contact the You know, in terms of privacy and just for security purposes, we’re going to make sure that they don’t just give their information to anybody, we’ll let them know it’s Goodwill because we use a specific access code,” Hamilton said.

Good Will offers business tax advice using apps to transfer and receive funds
Good Will offers business tax advice using apps to transfer and receive funds(Good will)

Copyright 2022 WALB. All rights reserved.

Share.

Comments are closed.