If you are a Writer then you are a seller. You sell words, from thoughts and ideas that you write about.

PayPal is a business of Selling Financial Services.

I use PayPal as a Buyer every month. I do not use it as a Seller. Your story Carrie, prompted me to read up on these changes. Why are they happening. Will it affect me. The answer is no. Because I don't use PayPal to sell.

A lot of Business models are changing in the United States. The cost to do Business is going up because of higher Labor cost. The minimum wage in the US is going to increase to $15.00 dollars by the year 2025. See - Raise the Wage Act of 2021.

https://www.congress.gov/bill/117th-congress/house-bill/603

US Debt as a whole is going up because of inflation and that inflation goes to both Buyers and Sellers. Prices go up for everyone. So it costs Sellers more money to make X which then Buyers have to pay for else Seller goes out of Business.

You can see US Debt and Country Debt at these two links. USA = https://www.usdebtclock.org/index.html

World =

https://www.usdebtclock.org/world-debt-clock.html

And then there is the requirement by all US Business to report the income of all individuals to the IRS. This to determine how much they make. Should they go over $600.00 USD then that money becomes taxable as well.

PayPal and all the others will use Form 1099-K to track your Hustle money/livelihood money. That extra money you tuck away that you don't put in the bank or report. You know from side jobs under the table.

The IRS are creating new rules authorized by the present US Government Administration to get a handle on it.

Writing is a business. The cost of doing Business is going up. Labor is going up. Taxes are going up. Current business of all types including the Writing Business has to cope with finding changes to how we do things to stay in Business. We may not like them. But its happening.

Disclaimer - I am Not a Financial Advisor. I used the Internet and its articles to glean this information for me. If you did not read this far it is not my fault. Use this information at your own risk of becoming knowledgeable. This is not a game this is life. All information reported may be wrong. It is up to you to be the judge.

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Military Ops/Intell Assitant — Instructor — Leader — Gamer — Electronic Engineer — Science Explorer — People Person — Doberman Lover — An “Old Guy” who reads.

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Jay Javurek

Jay Javurek

Military Ops/Intell Assitant — Instructor — Leader — Gamer — Electronic Engineer — Science Explorer — People Person — Doberman Lover — An “Old Guy” who reads.