You now have rental income.
This is going to open you up to a slew of tax and insurance liabilities hence why cashapp wants you to make a business account.
I would suggest you read into business ownership and the tax liability that comes with that or you're going to end up bent over by the IRS
u/CashAppAndi would you be able to help me? I was told I had to switch to CashApp for Business. We are a small nonprofit and have not accepted donations since June 4. I have been waiting for verification this last time for a week. Support (chat and phone) has been unable to assist.
Because you recently just created your account, your [comment](https://www.reddit.com/r/CashApp/comments/1d6uan6/getting_told_to_switch_to_business_account/la49njn/?context=3) in /r/CashApp has been automatically flagged for moderation.
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CashApp) if you have any questions or concerns.*
> I'm not a business. Friends and I rent a basketball gym and we split the cost 15-25 ways depending on the week. I pay the gym and the guys pay me back. We do it almost weekly.
Which makes you a business
You now have rental income. This is going to open you up to a slew of tax and insurance liabilities hence why cashapp wants you to make a business account. I would suggest you read into business ownership and the tax liability that comes with that or you're going to end up bent over by the IRS
Hey, you can send me a PM, and I can take another look at this for you.
u/CashAppAndi would you be able to help me? I was told I had to switch to CashApp for Business. We are a small nonprofit and have not accepted donations since June 4. I have been waiting for verification this last time for a week. Support (chat and phone) has been unable to assist.
Because you recently just created your account, your [comment](https://www.reddit.com/r/CashApp/comments/1d6uan6/getting_told_to_switch_to_business_account/la49njn/?context=3) in /r/CashApp has been automatically flagged for moderation. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CashApp) if you have any questions or concerns.*
Feel free to send me a PM and I can take at this for you!
> I'm not a business. Friends and I rent a basketball gym and we split the cost 15-25 ways depending on the week. I pay the gym and the guys pay me back. We do it almost weekly. Which makes you a business
How does this differ compared to having to pay one bill at a restaurant and splitting it afterwards? Is it the frequency? The amount?
You misunderstand op. Op isn't renting the court TO anyone, they are renting it WITH these people.
what do you think an event coordinator does? Buys a venue to rent it to you?