I started a new phone plan with about 6 people total, including myself. In order to get the best discount for everyone, I had to set the plan on autopay, coming out of my bank account only. I set up the other 5 people on an autopay through PayPal to pay me for their portion. They are each paying about $33/month, coming out to $2k/year total for their 5 lines. So technically, I am a middle man that’s just taking their money and applying it directly to their portion of the phone plan. Because it’s going in and out of my bank account, will I have to report this as income on next years taxes? It’s probably a stupid question, but I’d rather not get into any trouble. Thanks in advance!
Submitted December 01, 2018 at 12:36AM by cpabell https://ift.tt/2E7wGUU
