Personal Use

I used square only for personal use. Mainly to convert gift cards to cash, I don’t have a business. I stopped once I realized that is against square’s terms of service but I stupidly forgot about square being required to reports taxes over a certain amount. How would I handle that as my “sales” were not actual sales or income from another person? All of the money belonged to me.  

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Square Champion

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Hey @Lovelyp.  This is a question for an accountant or tax professional.  We are not permitted here to give financial advice of any kind, per the Community terms of service.  You’ll need to talk to a professional tax preparer and possibly enlist the assistance of an attorney, depending on how much money is involved here.  Yes, that will cost you money for their services, but it will be much less than what will happen if you are audited, so don’t skimp or skip the step of talking to someone soon.

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!

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Square Champion

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Hey @Lovelyp.  This is a question for an accountant or tax professional.  We are not permitted here to give financial advice of any kind, per the Community terms of service.  You’ll need to talk to a professional tax preparer and possibly enlist the assistance of an attorney, depending on how much money is involved here.  Yes, that will cost you money for their services, but it will be much less than what will happen if you are audited, so don’t skimp or skip the step of talking to someone soon.

Chip A.
Square Expert & Innovator and member of the Square Champions group. (But NOT a Square employee, just a seller like you)

Was my post helpful? Take a moment to mark it as a solution. Marked solutions help other sellers find possible resolutions to similar problems. Also, if you find your solution elsewhere (say, through Support), it is helpful to come back to your post and tell us about it, then mark that as a Solution. Solutions are what this Community is all about!
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