Following are some ways you can get a sugar daddy to give you money:
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In short, how do you know if a sugar daddy is scamming you?
The scammer begins by posing as a sugar daddy or mommy. They then approach people on websites and social media who are looking to become a sugar baby. The scammer will send the user a message, telling them that they're willing to pay off any bills they have or buy them expensive goods.
That, how do Sugar Babies pay taxes? Sugar Babies will fill out a form Schedule C, Profit or Loss From A Business, and include that on their form 1040 tax return. All of the accounting that we discussed a few moments ago would go on this form. So your income will be shown at the top and your various expenses will be shown in the middle part of the form.
At any event, do sugar daddies need bank info?
He doesn't need that information to send you money. Banks can send Pop Money, which is basically an electronic check / funds transfer to you. You should call your bank or his bank to look into alternate transaction methods. Don't give him your account number and password.
How much cash can you deposit before it is reported to the IRS?
When a cash deposit of $10,000 or more is made, the bank or financial institution is required to file a form reporting this. This form reports any transaction or series of related transactions in which the total sum is $10,000 or more. So, two related cash deposits of $5,000 or more also have to be reported.