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What is the best app / service for sending and receiving money online?
Posted on 2/5/22 at 8:18 am
Posted on 2/5/22 at 8:18 am
Let's say you post free content on your website / social media page and you want to include a link for voluntary donations in case people would like to donate.
What is the easiest or most popular app for people to use to send money? That makes it fast and convenient on the sender side? Preferably one that also works on PC.
I just figured I'd set up a PayPal.me link, but maybe there are more popular options available?
Also, I read about this new IRS thing with over $600 dollars now being the basis for tax reporting. It sounds like if you send it as 'friends and family' that there is no need to report anything, so maybe that's irrelevant. But is there a lesser known app which avoids that requirement, that everyone will flock to now?
What is the easiest or most popular app for people to use to send money? That makes it fast and convenient on the sender side? Preferably one that also works on PC.
I just figured I'd set up a PayPal.me link, but maybe there are more popular options available?
Also, I read about this new IRS thing with over $600 dollars now being the basis for tax reporting. It sounds like if you send it as 'friends and family' that there is no need to report anything, so maybe that's irrelevant. But is there a lesser known app which avoids that requirement, that everyone will flock to now?
2
Posted on 2/5/22 at 4:05 pm to Big Fat Guy
I was told using Zelle between my OWN accounts would trigger the reporting. My wife and I have shared accounts and individual accounts plus an able account for my disabled son so he can at least have something when he grows up and using Zelle was the easiest way to transfer money. It is a PITA now.
Posted on 2/5/22 at 4:14 pm to Big Fat Guy
Paypal or venmo?
Posted on 2/5/22 at 4:46 pm to armsdealer
LINK
quote:
The law requiring certain payment networks to provide forms 1099K for information reporting does not apply to the Zelle Network®.
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