#385 - The Venmo, Tippy, Paypal 1099 Tax Reporting Situation
Thriving Stylist Podcast
Britt Seva
4.7 • 2K Ratings
🗓️ 12 May 2025
⏱️ 20 minutes
🧾️ Download transcript
Summary
Did you just get a surprise tax form you weren't expecting? Are your Venmo, PayPal, or even salon software tips suddenly under the IRS microscope?
If you are a stylist or a salon owner that uses Venmo, PayPal, Apple Pay, Cash app, Tippy etc. and this has happened, then this episode is one you need to listen to.
Today, I discuss the 1099-K form that a lot of stylists were not expecting when it came time to do their taxes, along with the new laws that have come into effect, which I don't believe was widely reported.
More importantly, we'll discuss how to prepare NOW to avoid a financial shock come tax season. If you are ready to get ahead of the curve and ensure your hard-earned money stays where it belongs, then today’s show has the information you need to navigate this evolving landscape and protect your business!
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Do you have a question for me that you’d like answered in a future episode like this one? A great way to do that is to head over to Apple Podcasts and leave a rating and review with your question. I'm looking forward to answering your question on a future episode on the podcast!
If you’re not already following us, @thethrivingstylist, what are you waiting for? This is where I share pro tips every single week, along with winning strategies, testimonials, and amazing breakthroughs from my audience. You’re not going to want to miss out on this.
Learn more at: https://thrivingstylist.com/podcast/
Transcript
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| 0:00.0 | Do you feel like you were meant to have a kick-ass career as a hairstylist? |
| 0:05.8 | Like you got into this industry to make big things happen? |
| 0:09.1 | Maybe you're struggling to build a solid base and want some stability. |
| 0:12.5 | Maybe you know social media is important, but it feels like a waste of time because you |
| 0:16.1 | weren't seeing any results. |
| 0:17.9 | Maybe you've already had some amazing success, but are craving more. Maybe you're |
| 0:21.9 | ready to truly enjoy the freedom and flexibility this industry has to offer. Cutting and |
| 0:26.9 | coloring skills will only get you so far, but to build a lifelong career as a wealthy |
| 0:31.5 | stylist, it takes business skills and a serious marketing strategy. When you're ready to quit |
| 0:36.6 | just working in your business and start working on it, |
| 0:39.0 | join us here where we share real success stories from real stylists. |
| 0:42.7 | I'm Britt Siva, social media and marketing strategist just for hairstylists, |
| 0:46.3 | and this is The Thriving Stilist Podcast. |
| 0:51.4 | What is up and welcome back to the Thriving Stilist podcast. I'm your host, Perceva. And today we are talking |
| 0:57.8 | about what the heck is up with the Venmo, Tippi, PayPal, 1099 tax reporting situation. I'll be |
| 1:05.0 | honest, this one totally snuck up on me. And I think it's something that not enough people, experts, CPAs are talking about, |
| 1:14.4 | and I think that we should have this conversation. So this hit my radar. And truly, maybe I've |
| 1:21.8 | been living under a rock. I'll be the first to admit. Somehow I missed this announcement. |
| 1:25.8 | This hit my radar when it started with one salon |
| 1:29.8 | owner DMs me asking a question about a 1099, a stylist of hers received. I'm going to give |
| 1:37.9 | you the backstory on it in a second. Then about a week later, I got another DM from another salon owner who said that her |
| 1:46.5 | booking software was starting to offer this kind of like tip processing, direct to stylist, |
... |
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