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Question about using Venmo to receive larger fantasy buy ins
Posted on 8/24/22 at 4:29 am
Posted on 8/24/22 at 4:29 am
I run a 10 team 200$ league. If several or all players venmo me, will I have to pay taxes on the $1800?
I’ve heard something about 600$ Or more transactions will get something in from the IRS. But wasn’t sure if that was true, or it is a cumulative $600, or a single transaction over 600$ (which none of these will be)
I’ve heard something about 600$ Or more transactions will get something in from the IRS. But wasn’t sure if that was true, or it is a cumulative $600, or a single transaction over 600$ (which none of these will be)
2
Posted on 8/24/22 at 6:29 am to Cow Drogo
Why any league is still using Venmo or PayPal instead of leaguesafe makes zero sense
Posted on 8/24/22 at 6:38 am to Tiger Voodoo
Does leaguesafe take a fee?
Bc if Venmo or PayPal doesn’t, why would anyone chose to use leaguesafe instead?
I know all these guys personally and will see them at in person draft. Some pay cash money as well.
Bc if Venmo or PayPal doesn’t, why would anyone chose to use leaguesafe instead?
I know all these guys personally and will see them at in person draft. Some pay cash money as well.
This post was edited on 8/24/22 at 6:40 am
Posted on 8/24/22 at 7:04 am to Cow Drogo
If you deposit money in advance and then pay individual league fees out of your balance, then there is no fee.
If you just pay as you go then yes there is a small fee like $1 per hundred I think.
If it’s a true home league with friends then holding money is fine I guess, although it was always a pain in the arse constantly reminding someone to pay when we did that back in the day. Of course it was still writing checks or cash back then lol so I guess the convenience of these apps eliminates that annoyance anyway.
If you just pay as you go then yes there is a small fee like $1 per hundred I think.
If it’s a true home league with friends then holding money is fine I guess, although it was always a pain in the arse constantly reminding someone to pay when we did that back in the day. Of course it was still writing checks or cash back then lol so I guess the convenience of these apps eliminates that annoyance anyway.
Posted on 8/24/22 at 9:00 am to Tiger Voodoo
Fortunately in 12 years I’ve never once had a single member not pay before or at the draft
Posted on 8/24/22 at 10:46 am to Tiger Voodoo
Absolutely no reason to use leaguesafe among a trusted group of friends. Random people? Of course. But there’s a credit card deposit fee on leaguesafe. I keep a balance on there to avoid fees.
Posted on 8/24/22 at 4:48 pm to Tiger Voodoo
quote:
Why any league is still using Venmo or PayPal instead of leaguesafe makes zero sense
Wut lol
Posted on 8/25/22 at 1:36 pm to Tiger Voodoo
quote:Why would anyone use a service that charges fees when there are apps that are free such as Venmo and Paypal
Why any league is still using Venmo or PayPal instead of leaguesafe makes zero sense
Posted on 8/25/22 at 3:11 pm to TigerTatorTots
You joined a random league on sleeper and wouldn’t trust the person? That’s what the whole site exists for
Posted on 8/25/22 at 9:27 pm to TheWalrus
A minuscule fraction of people join random fantasy football leagues where they don’t know anyone
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