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Find out What Cash App is & how it works.

i. Here are the steps to invest in stocks using the Cash App:

1. Download the Cash App mobile app and sign up if you don't already have an account.

2. Tap on the Investing tab at the bottom and select Stocks.

3. Tap “Get Started” in the Stocks section if its your first time.

4. Link a bank account to facilitate money transfers for stock purchases.

5. Decide how much money you want to transfer from your bank to the Cash App investing account.

6. Search for stocks by company name or ticker symbol. You can also browse trending or top stocks.

7. Tap the stock price then tap “Buy” and place the trade order by defining the quantity.

8. Once the brokerage order is fulfilled, the stocks will show in your portfolio. You can track values over time.

9. You can sell stocks by tapping into your portfolio, selecting the stock and tapping “Sell” to place the redeeming trade.

Make sure to carefully research any stocks before purchasing and understand brokerage fees. Cash App Investing makes it quick and convenient to directly trade stocks from the mobile app.

ii. Here are the steps to file taxes for your Cash App transactions:

1. Download the Cash App year-end tax statement - In January, Cash App will provide a 1099-B summarizing your stock/bitcoin investment sales, and a 1099-MISC summarizing other income like cash payments received.

2. Review and collect all related documents - Along with the Cash App tax documents, gather other records like bank statements, income slips, deductible expense receipts.

3. Calculate gains/losses from investments - For stocks/bitcoin, subtract purchase costs from sales proceeds to determine capital gains or losses for filing.

4. Fill out tax forms manually or via tax software - Major software like TurboTax, H&R Block support importing Cash App records. Or manually enter amounts as needed.

5. Complete tax forms Schedule D and Schedule 1 - Use Schedule D to report investment gains/losses. Use Schedule 1 for any miscellaneous income from cash payments.

6. Double check for accuracy - Verify the amounts on your filing match the Cash App year-end statements and other records you maintain.

7. File before the tax deadline - File your completed tax return with your W2 income, Cash App activity etc. before April 15 to avoid any penalties or interest.

Be sure to reach out to a tax professional if you have questions or need guidance based on your specific situation.

iii. Here are the basic steps to receive and send money through Cash App:

To receive money:

1. Download and open the Cash App mobile app.

2. Tap the profile icon in the top-right corner.

3. Tap your $cashtag to view your unique Cash App payment link.

4. Share this $cashtag link with someone you wish to receive money from.

5. They can open their Cash App, click “Pay”, enter your $cashtag, and send you money.

To send money:

1. Open the Cash App and tap the “Pay” tab.

2. Choose whether you want to pay an individual via their $cashtag or phone number/email.

3. You can also pay a business by searching for their name or scanning their QR code.

4. Enter the $ amount you wish to send.

5. Confirm details like the $cashtag name, payment amount etc.

6. Tap “Pay” to complete sending the money.

And that's it! Sending and receiving payments via Cash App only requires your custom $cashtag as a handle to facilitate direct peer-to-peer money transfers.

iv. Cash App has a few major competitors in the peer-to-peer payments and mobile money transfer space:

Cash App vs Venmo:

- Venmo has more active overall users, but Cash App growing faster recently
- Cash App allows buying/selling stocks and bitcoin, Venmo does not
- Cash App handle is $cashtag username , Venmo uses phone contacts to connect
- Venmo feed shows transaction history publicly to friends by default

Cash App vs PayPal:

- PayPal much more widely adopted globally for ecommerce transactions
- PayPal allows storing balances and direct deposit; Cash App doesn't
- PayPal more business/merchant focused, Cash App peer-to-peer focused
- Cash App simpler interface and money transfer experience

Cash App vs Zelle:

- Zelle built into many major US bank apps natively
- Zelle higher transaction limits and mainly bank account transfers
- No fees taken on Zelle money transfers, Cash App charges for instant bank withdraws
- Cash App additional features like investing, bitcoin

Overall, Cash App excels in the casual peer-to-peer money transfer space, especially with younger demographics with its slick mobile-first presence. But competitors serve other major niches with key advantages.

Learn more@ https://www.youtube.com/c/ITGuides/search?query=Cash.

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