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The Clark Howard Podcast

08.04.25 Subscriptions: A Clark Smart Assignment / Tax Update for freelancers & Payment Apps

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.65.2K Ratings

🗓️ 4 August 2025

⏱️ 30 minutes

🧾️ Download transcript

Summary

In an ongoing breach of ethics to the lasting detriment of consumers, many subscription services make it virtually impossible to cancel. So there’s something you need to do before signing up for anything. Also - Clark breaks down IRS reporting requirements on payment apps -which aren’t becoming more stringent after all. If you’re a vendor, small contractor or do business via payment app, know what will trigger a 1099.   Click To Cancel? We Wish: Segment 1 Ask Clark: Segment 2 Payment Apps & 1099s: Segment 3 Ask Clark: Segment 4 Mentioned on the show: One Tech Tip: 'Click-to-cancel' is over, but there are other ways to unsubscribe Cash Envelope System: How It Works Budgeting & Saving Archives - Clark Howard How To Take Your Score from ‘Good’ To ‘Exceptional’ Credit Karma Review: Free Credit Score and More at Your Fingertips Two tax reporting changes on tap for businesses, freelancers and payment apps like Venmo How to Start Investing: 10 Steps for Beginners Clark.com resources Episode transcripts Community.Clark.com  /  Ask Clark Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

It's great to have you here on the Clark Howard Show.

0:07.6

You know, our mission is to serve you with advice and information that empowers you

0:13.6

so you can make better financial decisions in your life.

0:17.9

I hope you started out this week by reading our daily newsletter from the team

0:24.7

at clark.com. We've recently made additions to it like daily stats that I really enjoy seeing

0:32.6

in my inbox. To subscribe so easy, just go to clark.com slash newsletter and you know what this is important

0:42.8

about what i'm going to talk about straight ahead we make it really easy to sign up do you know we

0:48.0

make it is equally easy if you say i don't like this thing toubscribe, as simple to cancel as it is to sign up,

0:58.9

because I'm going to talk about that straight ahead.

1:01.2

And later, I've got a homework assignment for you.

1:05.7

Some good news for you on tax reporting changes.

1:10.3

Good stuff. Okay. so I was all excited last, I think it's last

1:17.3

year when it was initially announced, we were going to have a new rule going into effect

1:23.1

this summer that would require that companies could no longer play you like a fiddle

1:30.8

when they'd have a trial period or you sign up for something and then you want to quit later

1:38.6

whatever it is a gym membership or a video streaming service, whatever it is, that however you were able

1:48.5

to sign up, you would also be able to quit the same way. Well, let me tell you, companies

1:54.5

large and small went berserk, wired up, and just before the new rules on canceling were going into effect,

2:07.5

a three judge panel in an appellate court said, nope, nope, this interferes too much with business.

2:16.6

So businesses are still going to be able to lure you in with an easy sign-up for something

2:24.0

and make it as difficult for you to cancel it as possible.

2:29.5

Let me tell you some of the industries that are the worst offenders of this. For years and years and years and

...

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