However, it's crucial to differentiate these from business transactions, which have different tax implications. When using Venmo for business purposes, be prepared to report these earnings to the IRS.

This article was expert reviewed by Lisa Niser, EA, an enrolled agent and tax advisor. If you run a side hustle or a small business and accept payments on Venmo, Cash App, or an online marketplace ...

Fintech companies such as Venmo, PayPal, Zelle and Stripe make the process swift and safe through their mobile apps. Be aware that you will often need to pay income tax on your earnings.

Unlike other platforms such as Venmo ... their tax obligations are met. This unique position highlights the importance of understanding the nuances of digital payment systems and their ...

One of the men in charge of running America's money had a Venmo account so public that reporters were able to track his payments going back years — including the one marked only with an ...