Where to ask questions about 2022 taxes?
Because the Federal tax laws have changed, but aren't being fully implemented until TY 2023, I thought that we could use a single place for questions, especially since some people have resurrected questions from long ago and the situation is very different now. There are some very important, fundamental differences in the way our earnings are being reported. Gross earnings vs net is an example of one.
The delayed implementation DOES NOT affect sitters in some states, including my own, which legislated lower reporting requirements previously. In Illinois, all it takes is $600 in gross earnings. The same holds true for sitters in DC, Maryland, Massachusetts, and Virginia. Arkansas, Mississippi and New Jersey also have lower reporting requirements.
Not only has Rover updated its article about how taxes factor into things, it has also paid Ernst & Young to create a detailed guide for sitters. It doesn't take the place of using a tax professional but should give you much more information. It is 28 pages long. Do try to at least skim through it, especially for what E&Y says about claiming a portion of your home for business purposes.
Here are some of the links:
https://support.rover.com/hc/en-us/arti…
About Stripe and your 1099-K:
https://support.rover.com/hc/en-us/arti…
The E&Y sitter tax guide:
https://www.rover.com/blog/wp-content/u…
Wish there was some way to pin this, but will add things if needed.